I took a holding deposit for a sept 1 move in. They made the deposit thru paypal, holding fee agreement signed. They changed their mind and told paypal I took their money without their permission and paypal has no system in place to defend yourself. Needless to say I dont want this person as my tenant. But going forward CASH is all I am taking for a holding fee. --73.227.xxx.xxx

Cash only! --24.180.xx.xx

Why was PayPal in the loop? --99.103.xxx.xxx

bet, that kinda worked out as a good screening tool. --107.141.xx.xxx

Yes. Paypal is fine when things are normal. But when things are contested, Paypal is a thousand times useless and will do nothing to help, regardless of how open-and-shut your supporting documentation is. --137.118.xx.xxx

Zelle. ? Young people are savvy this way. Perhaps this could be a convention speaker topic to help us understand the pros and cons that work in our favor and those that are too friendly to senders of electronic payments. --172.58.xxx.xxx

Yes, things like that can be clawed back. I do not like using it for app fees either. --73.120.xx.xxx

I like that suggestion plenty. --73.120.xx.xxx

It was never a good idea as posted here for 7-10 years, the disputes last 90 plus days if you can get one on file before the other account closes up. --76.188.xxx.xxx

First month's rent and security/cleaning deposit accepted only in cash. After that checks are OK, but so far, in the past 4 years, my tenants continue to pay me in cash. Weird. I don't mind. Cash only on the first monies is a good thing, and I do keep the pile of cash untouched 'just in case' of a snafu. Had to refund it twice so far when things went sideways. --72.207.xx.xxx

--76.171.xxx.xxx

It takes work, but if you have the documentation, you can win in a PayPal challenge. You might need to get on the phone with an agent or you may need to follow up by using the email addresses found on the Chris Elliott website. --149.76.xxx.xx

Several of my banks will allow me to conduct limited business in their lobby, such as handing over funds. If we have to review the lease and I'll need to explain it, that can't be done in a busy lobby. --47.155.xx.xxx

It would seem that if PayPal won't do the right thing, you would have an excellent case for Small Claims Court. Send them a demand letter first, then file when they don't respond. --73.25.xx.xxx

--149.76.xxx.xxx

Barb, I could not find any place to lodge a defense or counter claim. I will try to call them Monday. They signed a holding fee agreement and sent me the fee (one months rent) via paypal. They said I took the money from them without authorization, which is going to be hard to prove since they sent it to me. But now my account is negative the amount of the holding fee. Applicants; complete application, once thoroughly screened. I meet them at property. I tell them if they want the apt to email me the rest of the supporting docs and a deposit.So going forwarding, I plan to have them give me supporting documents and then I will meet them again at the apt to collect a cashiers check and sign the holding fee. I dont review the lease with them beforehand because they would run away if they read it, lol Really I have had so few vacancies these past 2 yrs, I am getting a little rusty.Time to tighten ship again. --73.227.xxx.xxx

this is ONE MORE REASON I DEMAND A CHECKING ACCOUNT...folks that cannot get one or figure out how to keep and balance one are too stupid to be bothered with. ALL the banks i deal with give free cashiers checks. i do not want money orders either. the cashiers check comes from a local bank...money orders come from a liquor store. low-lifes bank at liquor stores --75.80.xx.xx

So true Mike. My spouse owes trailers, mobile homes. Not a single one of them have a checking account or can figure how to get one. Monthly hassle trying to get these less oxygenated folks to figure out simple banking. --73.227.xxx.xxx

Bet, I own a mobile home park. Each of my 84 residents has a checking account, with most paying via ACH. --149.76.xxx.xxx

Good to hear Sisco and if I was managing these trailers instead of my spouse, all the tenants would have checking accounts. --73.227.xxx.xxx

I take Zelle for application fee. I take a check in person when signing the lease. I take Zelle 3 days before move in. --75.11.xx.xx

I can't believe nobody here has mentioned paypal friends and family payment. If I were to take paypal I would require it to be sent that way. Payment cannot be disputed when sent this way. --174.55.xxx.xx

Does anyone have a "holding deposit" agreement ? --98.10.xxx.xx

Cash only on the first monies is a good thing, and I do keep the pile of cash untouched 'just in case' of a snafu. Could someone tell me what this acronym "SNAFU" stands for. Just curious. Also I like the idea of the holding fee charge, is it the same amount of the security deposit? I love this discussion board. We (my husband & I)have been in the landlord business since 1998 & still learning :-). Happy Labor Day weekend everyone. --24.129.xxx.xxx

SNAFU = Situation Normal All Fouled Up --72.207.xx.xxx

--35.141.xxx.xxx

Re: "SNAFU = Situation Normal All Fouled Up" The original, milspeak version is a bit stronger than using "fouled".... --72.207.xx.xx