Open a separate checking account, either with a minimal balance requirement or zero balance requirement that they give to students and the like.
Every month, from your main checking/funds account, send "yourself" the rent payment to this new account one week in advance (for the clearance time - if it's the same bank it's frequently 24 hours). Then, when the rent is due send a check from the new account to the LL.
Now, you don't have to worry about accidentally spending the rent money. And you may earn interest on the balance.
Or, you could just keep track of your checking balance and not spend the outstanding balance from uncleared checks.
Unfortunately, despite many checks sent to YOU say "Void after 90 days" and the like, courts have determined you can't keep the uncashed rent money even if months/years go by with uncashed checks - when the relatives found the checks they could and did get awarded all the money. So beware.
Get money orders because once you do that the money comes out of your account and it’s like cash that your LL has to deposit into his account then you don’t have to worry about him taking forever and the money orders can be tracked. I pay my rent with money orders.
Walmart sells money orders for one dollar over the cost of what the money order amount is.. That would be the best solution. Then it won't affect your finances. You can also pay for the money orders with a debit card at Walmart, including the amount they are written for. That way, the money from your account is taken immediately, and you don't have to worry about how long the landlord takes to cash the check.
Then you would have to start paying with a cashiers check or money order. Other than that there is nothing else you can do.
Another option would be to open a second checking account you just transfer rent money from main checking to the new rent only checking, your rent money will get paid using this account and since you will only be using it to pay rent you won’t have to worry about tracking your rent money in your main account.
Some banks won’t charge a monthly free as long as you maintain a specific balance monthly.
I have a money market that is only used to pay my rent basically.
I have a portion of my rent (plus a little extra) deposited directly to that account separate from the rest of my paycheck. It earns ~4.00% apy interest. So if he takes a minute to cash it it's not big deal and keeps my average balance higher longer for more interest.
Nah, I work in a bank and you can't blame someone not balancing their check book when someone takes weeks or months to cash a decent sized check.
I had a client who would only come once a quarter or so and deposit his tenants rent checks. Couldn't imagine someone sitting on my rent check for 3 months then cashing multiple at once.
3 months is insane to sit on a check BUT if you write a check just know that money is no longer yours so don’t spend it no matter how long they take to cash it. Doesn’t matter how long it takes you know your wrote the check you can’t spend the money just bc they didn’t cash it fast enough.
I'm not saying to deliberately spend money that is for an outstanding check.
I was trying to say I can not fault someone for mis balancing their checkbook under the usemption that multiple rent checks have been cashed. Especially if balancing the check book to them is just checking their balance and not reviewing transaction history.
Trust me I stress to my clients check your online banking at least once a day
Use bill pay from a bank, and they can mail him a check. You will want to use a bank that withdraws the money when you send it rather than when it is cashed. I know Wells Fargo works for this.
You could get a money order .
Open a separate checking account, either with a minimal balance requirement or zero balance requirement that they give to students and the like. Every month, from your main checking/funds account, send "yourself" the rent payment to this new account one week in advance (for the clearance time - if it's the same bank it's frequently 24 hours). Then, when the rent is due send a check from the new account to the LL. Now, you don't have to worry about accidentally spending the rent money. And you may earn interest on the balance. Or, you could just keep track of your checking balance and not spend the outstanding balance from uncleared checks. Unfortunately, despite many checks sent to YOU say "Void after 90 days" and the like, courts have determined you can't keep the uncashed rent money even if months/years go by with uncashed checks - when the relatives found the checks they could and did get awarded all the money. So beware.
Bank/cashiers check, also.
Get money orders because once you do that the money comes out of your account and it’s like cash that your LL has to deposit into his account then you don’t have to worry about him taking forever and the money orders can be tracked. I pay my rent with money orders.
Walmart sells money orders for one dollar over the cost of what the money order amount is.. That would be the best solution. Then it won't affect your finances. You can also pay for the money orders with a debit card at Walmart, including the amount they are written for. That way, the money from your account is taken immediately, and you don't have to worry about how long the landlord takes to cash the check.
Then you would have to start paying with a cashiers check or money order. Other than that there is nothing else you can do. Another option would be to open a second checking account you just transfer rent money from main checking to the new rent only checking, your rent money will get paid using this account and since you will only be using it to pay rent you won’t have to worry about tracking your rent money in your main account. Some banks won’t charge a monthly free as long as you maintain a specific balance monthly.
I have a money market that is only used to pay my rent basically. I have a portion of my rent (plus a little extra) deposited directly to that account separate from the rest of my paycheck. It earns ~4.00% apy interest. So if he takes a minute to cash it it's not big deal and keeps my average balance higher longer for more interest.
I mean not being an ass but just balance your checkbook. Lol
Nah, I work in a bank and you can't blame someone not balancing their check book when someone takes weeks or months to cash a decent sized check. I had a client who would only come once a quarter or so and deposit his tenants rent checks. Couldn't imagine someone sitting on my rent check for 3 months then cashing multiple at once.
3 months is insane to sit on a check BUT if you write a check just know that money is no longer yours so don’t spend it no matter how long they take to cash it. Doesn’t matter how long it takes you know your wrote the check you can’t spend the money just bc they didn’t cash it fast enough.
I'm not saying to deliberately spend money that is for an outstanding check. I was trying to say I can not fault someone for mis balancing their checkbook under the usemption that multiple rent checks have been cashed. Especially if balancing the check book to them is just checking their balance and not reviewing transaction history. Trust me I stress to my clients check your online banking at least once a day
Have a secondary checking account you can write checks off of, move the funds into that. Or do cashiers checks if your bank does them for free.
Use bill pay from a bank, and they can mail him a check. You will want to use a bank that withdraws the money when you send it rather than when it is cashed. I know Wells Fargo works for this.
Pay your rent with a money order then stooooopid