Recieving deposits

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T
thurstan
83 Posts
2 Thanks
I am about to take a deposit and at least initially intend to use the custodial scheme. Can I get the tenant to just make the cheque out direct to the scheme, rather than having to process it through my account? Is there any problem with that?

Apart from keeping my accounts simple it would also ensure I don't have a problem with bounced cheques - cheques can appear to clear and then bounce several weeks later and the money needs to be transfered into the scheme in that time. If I had a problem tenant like that the last thing I would want is to have my own money tied up in the scheme.

In over ten years of letting I have never had such a problem tenant -until recently, so am just being cautious.

Thanks, David

16/04/2007 00:00

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