Ask Me Help Desk - Having tenant leave money order in box attached to house- good idea?

I know you can get "one way mail boxes". My friends have a business and they have a rather large mailbox on the house for the business. Mail can go in, but not out.

Some here: Locking Mailboxes | Mailboxes | Residential Mailboxes | Commercial Mailboxes

Since MO's really cannot be re-issued easily, you do need a secure method of delivery.

Quote:

Originally Posted by excon

Hello a:

The landlord business IS a business like any other. If you don't understand the business, you'll probably lose money.

As an example, rent a movie called Pacific Heights, starring Michael Keaton. Then tell us you still want to be landlords.

excon

I will do. But this decision is not something we really WANT to do. But if we can't sell it we have to get money out of it somehow. Just letting it sit empty and making 2 house payments is a bit crappy(if I may use that terminology!).

But I will surely let you know what our reaction to that movie is!!

I always enjoy your posts excon. :p Always! Thank you!

You could also consider accepting rental payments via PayPal. Anyone with a PayPal email can send to anybody with an email address (you) without a Paypal account, but you can get one anyway.

That's a secure method of payment with no stamp.

Quote:

Originally Posted by Rich Slumlord

Hi Scott,

First of all, never tell your tenant(s) where you live; this could result in their showing up at your house for a BBQ (best case - chuckle, chuckle) or threatening you and your family should you need to evict them (worst case, and for real...).

Second, what I do to collect rent is to rent a P.O. Box at the local Post Office (only $26/six months for me) and have all mail related to my rentals go there. I also tell my tenants that they are charged late fees ($50 if not received by the 1st of each month), and that I track it by the post date (which gives them an extra day or two, but that's OK).

In order to motivate them to pay on time, I have also tried to increase the late fee to $100 if not paid by the 15th of the month. This has been met with "mixed reviews"; if the late fees get too high, they could move out or decide to NOT try to catch up. It's up to you to decide based on the neighborhood / type of tenant you are renting to.

With regards to a lockbox outside your rental property. you better make sure it is secure and well locked, as it is like putting up a big poster saying (Money Inside!) to criminals (who would then try to forge your signature and cash the money orders). As such, I would not consider this for myself. I hope this helps.

Good Luck!

The Rich Slumlord

Thank you Rich Slumlord for the advice!! I appreciate all of it. Though my name is Champ and not Scott! :p But that's okay! I am positive that we are going with a PO box for only rental payments. And I think we are going to get it in the county where the rental is and not where we reside. As a safety precaution against those BBQ's and scary drop ins (he he). But thank you for the time you took to respond!!

Quote:

Originally Posted by achampio21

Thank you Rich Slumlord for the advice!!! I appreciate all of it. Though my name is Champ and not Scott! :p But that's okay!! I am positive that we are going with a PO box for only rental payments. And I think we are going to get it in the county where the rental is and not where we reside. As a safety precaution against those BBQ's and scary drop ins (he he). But thank you for the time you took to respond!!!!

All your tenants have to do is go to the Town or the County Clerk or Assessor and ask where the tax bills are sent, who owns the property, and that info will be handed to them. It's public record.

If you open the PO Box in another County you will do a lot of driving back and forth and if they want to find you, they will anyway.

Quote:

Originally Posted by KeepItSimpleStupid

You could also consider accepting rental payments via PayPal. Anyone with a PayPal email can send to anybody with an email address (you) without a Paypal account, but you can get one anyway.

That's a secure method of payment with no stamp.

Fabulous advice! Thank you I have investigated the paypal thing though I will admit not very thoroughly.:o But I will bring it to my honey's attention as a thought! Thank you!

Quote:

Originally Posted by JudyKayTee

All your tenants have to do is go to the Town or the County Clerk or Assessor and ask where the tax bills are sent, who owns the property, and that info will be handed to them. It's public record.

If you open the PO Box in another County you will do a lot of driving back and forth and if they want to find you, they will anyway.

I remember your post from earlier about how they can find us easily if they take the time. But I am hoping that overall any tenants we have won't need to "find" us and if they do want to may hopefully not know who to call or how to find us. But if they do, I will surely be ready to contact the local police and/or issue a restraining order. ;)

But I do appreciate you letting me know that. I do believe you just showed a slight concern for my safety... or am I reaching dear Judy?? :) ;)

Thank you though. Really.

Quote:

Originally Posted by achampio21

I remember your post from earlier about how they can find us easily if they take the time. But I am hoping that overall any tenants we have wont need to "find" us and if they do want to may hopefully not know who to call or how to find us. But if they do, I will surely be ready to contact the local police and/or issue a restraining order. ;)

But I do appreciate you letting me know that. I do believe you just showed a slight concern for my safety.... or am I reaching dear Judy??? :) ;)
Thank you though. Really.

What does this mean ("I do believe you just showed a slight concern for my safety... or am I reaching dear Judy?? :) ;)"? You asked, I answered - what's the problem - ?

EDIT: Just got it - you got suspended from the site and think (according to your PM to me) that I'm the one who suspended you? Nope. Don't have those privileges. Thought that was all over, but okay -

Quote:

Originally Posted by JudyKayTee

What does this mean ("I do believe you just showed a slight concern for my safety.... or am I reaching dear Judy??? :) ;)"? You asked, I answered - what's the problem - ?

EDIT: Just got it - you got suspended from the site and think (according to your PM to me) that I'm the one who suspended you? Nope. Don't have those privileges. Thought that was all over, but okay -

WHOA! Actually I was being nice! As in I have been a butt head to you in the past and you are giving me helpful advice even though I figured you don't have to even respond to me. So calm down. I was actually trying to be nice and funny. And possibly have normal posts on the same thread as you.

And I never got suspended. So no, I never thought you did anything.

Sorry for trying to be funny and nice.

Sheesh:o