State Specific Question About: MARYLAND (MD)

One of my friends is a LL, and she asks her tenants if they are willing to have their rent taken out of their pay automatically using direct deposit. So, basically, when they get paid every 2 weeks, half of their rent is automatically deposited into her bank account.

This is how she chooses to collect her rent. If they don't agree ahead of time, she doesn't select them to be their tenant.

Why would tenant's employer cooperate with this?

My day-job doesn't allow me to have more than one deposit, so this would knock me off your friend's list of possible tenants. A better way is to use the service on this site to take the rent from their bank account. That way, you only take the amount of the rent, and don't overlook people like me.

BTW, I'm a teacher and I'm paid a salary monthly. Most of the time, teachers make decent tenants.

I have low end rentals where they go to the bank physically to deposit into my bank account

Some of the older tenants cannot get used to the idea of driving to the bank to deposit rent

I have asked older tenants if they can do autodraft or go to the bank and they are against this method of rent collection

Some of the older tenants on ssi income are terrified of auto draft or going to the bank to deposit rent, its a change that they cannot handle

I wish all my tenants could direct deposit to bank or pay ck autodraft but it seems that the younger tenants dont mind this but the older tenants are totally against it

I was thinking that direct deposit straight from the paycheck was safer because it would never hit their bank account first, which would never give them the opportunity to be irresponsible.

I might have to try clear now.

I'm scared because I have good credit and I'm scare of gaps in payments. This will be my first time being a LL.

I was thinking that direct deposit straight from the paycheck was safer because it would never hit their bank account first, which would never give them the opportunity to be irresponsible.

I might have to try clear now.

I'm scared because I have good credit and I'm scare of gaps in payments. This will be my first time being a LL.

Silk,,, you can pick your friends and you can pick your nose but you can't pick your friend's nose.

I have never heard of such collecting straight from the employer pre-deposit... unless they work for you or something, then you'd want to talk to your tax man...

if you are "scared" then these are your fears and figure out how to deal with them. Read more books, there is to much at stake in RE investing to be "scared" going in.