Should I accept a personal check at move-in?
No, make it clear when discussing the move-in procedure that you can only accept certified funds. (Money order or cashiers check.)
The worst thing you can do is accept a personal check to cover a Security Deposit and first months rent, only to have it bounce. When this happens, you are stuck with a Tenant and no funds to cover eviction, damages or bank fees.
A good rule to follow: schedule the Lease signing during regular banking hours only. This will allow them to run to the bank if they 'forgot' the certified funds. If they hesitate, chances are they knew the check would bounce to begin with.
The worst thing you can do is accept a personal check to cover a Security Deposit and first months rent, only to have it bounce. When this happens, you are stuck with a Tenant and no funds to cover eviction, damages or bank fees.
A good rule to follow: schedule the Lease signing during regular banking hours only. This will allow them to run to the bank if they 'forgot' the certified funds. If they hesitate, chances are they knew the check would bounce to begin with.


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