 Full Payment (by Vogol [VA]) Mar 9, 2023 10:56 PM
 Full Payment (by plenty [MO]) Mar 10, 2023 6:20 AM
Full Payment (by myob [GA]) Mar 10, 2023 6:38 AM
Full Payment (by gevans [SC]) Mar 10, 2023 6:43 AM
Full Payment (by WMH [NC]) Mar 10, 2023 6:50 AM
Full Payment (by zero [IN]) Mar 10, 2023 7:36 AM
Full Payment (by DJ [VA]) Mar 10, 2023 7:38 AM
Full Payment (by 6x6 [TN]) Mar 10, 2023 8:04 AM
Full Payment (by myob [GA]) Mar 10, 2023 4:01 PM
Full Payment (by Vogol [VA]) Mar 10, 2023 4:56 PM
Full Payment (by Vogol [VA]) Mar 10, 2023 4:56 PM
Full Payment (by Vogol [VA]) Mar 10, 2023 4:56 PM
Full Payment (by Vogol [VA]) Mar 10, 2023 4:56 PM
Full Payment (by Vogol [VA]) Mar 10, 2023 4:56 PM
Full Payment (by Vogol [VA]) Mar 10, 2023 5:04 PM
Full Payment (by Jim in O C [CA]) Mar 10, 2023 6:10 PM
Full Payment (by Vee [OH]) Mar 10, 2023 8:38 PM
Full Payment (by Vee [OH]) Mar 10, 2023 8:43 PM
Full Payment (by zero [IN]) Mar 11, 2023 4:41 PM
Full Payment (by Vogol [VA]) Mar 17, 2023 12:26 AM
Full Payment (by Vogol [VA]) Posted on: Mar 9, 2023 10:56 PM
Message:
State Specific Question About: VIRGINIA (VA)
Is it okay/ legal to accept the total rents for the whole renting/ leasing term (12 months) at the beginning of the tenure in Virginia. The rental is located in Virginia Tech, Blacksburg, Virginia in Montgomery County, VA. Tia for your time. --152.119.xxx.xxx |
Full Payment (by plenty [MO]) Posted on: Mar 10, 2023 6:20 AM
Message:
Do you want to? It's not always a good idea. It's ok in my state but I do not do this. --172.59.xxx.xxx |
Full Payment (by myob [GA]) Posted on: Mar 10, 2023 6:38 AM
Message:
plenty MO -- has some of that smoke from OH drifted your way?
WHY would you not want to be paid a whole year in advance? You could buy another house with it.
Make your term on the rental contract from say April 1, 2023 to end date March 31, 2024 --108.239.xx.xx |
Full Payment (by gevans [SC]) Posted on: Mar 10, 2023 6:43 AM
Message:
I'm not saying I wouldn't accept under any circumstances, but there are reasons not to.
It can be difficult to impossible to evict if rent is already paid. This is a tactic used by drug dealers, human traffickers, and meth labs.
If you stay on top of things and do your inspections, check for non tenants living there, etc., it should work out.
You need to ask the tenant this question: Why would you pay the rent one year in advance?
Know your facts. --69.80.xx.xxx |
Full Payment (by WMH [NC]) Posted on: Mar 10, 2023 6:50 AM
Message:
Gevens, because they are students and their parents want to be sure the rent is paid? --50.82.xxx.xxx |
Full Payment (by zero [IN]) Posted on: Mar 10, 2023 7:36 AM
Message:
I had a couple move into an apartment and wanted to pay an entire year in advance.
She had collected from an insurance settlement and they knew they would blow thru it if they didn't pay up front. Tried to do the same with the electric.
I allowed it but booted them a couple months later. Hated giving that money back, but they had to go.
They paid a year in advance at the next place as well. --107.147.xx.xxx |
Full Payment (by DJ [VA]) Posted on: Mar 10, 2023 7:38 AM
Message:
I don't remember ever reading anything in the VRLTA that prohibits it, so yes I believe you can. But check yourself - I forget thing sometimes, especially when its not the specific thing that applies to me.
Do screen them thoroughly & have a plan for getting them out if needed - such as inspections & written notices of lease violations - so you could evict for breech of lease. What will happen if there are damages? Will they be paid from the pre-paid rent if they fail to promptly reimburse you for repairs? How will that rent be replaced/ will the last month be short? Just some thoughts to consider ahead of time, to have a plan.
Perhaps our student landlords here will have more/better advice, as I do not have student tenants at this time.
I suggest to choose upperclassmen who have good grades and I believe it's "normal" to pay a semester at a time. You could negotiate that if it seems better to you.
Keep that advance rent money well documented as each payment is deducted. --68.229.xxx.xxx |
Full Payment (by 6x6 [TN]) Posted on: Mar 10, 2023 8:04 AM
Message:
With my lack of experience, due to only having one rental at the moment, I have done this a few times.
It has always worked for me. 1 time was a full year. I would send an accounting statement each month as a receipt. I believe the upfront payment also helped me get the ELT fee without problems as the money was already paid. Sort of like how people use credit cards instead of cash. It is easier to spend using a card then when watching the cash disappear right before your eyes.
The other 2 times were 6 months in advance from students. Again, I just sent accounting statements.
I am still learning however, and so did not think about problems that it might cause to evict or for other things. --98.40.x.xxx |
Full Payment (by myob [GA]) Posted on: Mar 10, 2023 4:01 PM
Message:
more reason for them to behave. The term i9s one year. So any time the lease is violated-- even if day 35 -- then with proper notice you can terminate the lease -- boot them out and re-rent. Almost doubling your money if it's early in the lease. --108.239.xx.xx |
Full Payment (by Vogol [VA]) Posted on: Mar 10, 2023 4:56 PM
Message:
Thanks for all the responses, great to hear them. I've never done this before, so wondering; this is the first time I was offered such thing!
Yes, the tenant is a student, senior at VTech. Parents are paying for one less headache to have I believe, haven't asked thou. My son is also one of the occupants in this condo who's bringing him in, and he's his classmate and friend. I thought it's pretty safe and nothing to worry about eviction or anything like that with the students, where the parents are guarantor for him. --152.119.xxx.xxx |
Full Payment (by Vogol [VA]) Posted on: Mar 10, 2023 4:56 PM
Message:
Thanks for all the responses, great to hear them. I've never done this before, so wondering; this is the first time I was offered such thing!
Yes, the tenant is a student, senior at VTech. Parents are paying for one less headache to have I believe, haven't asked thou. My son is also one of the occupants in this condo who's bringing him in, and he's his classmate and friend. I thought it's pretty safe and nothing to worry about eviction or anything like that with the students, where the parents are guarantor for him. --152.119.xxx.xxx |
Full Payment (by Vogol [VA]) Posted on: Mar 10, 2023 4:56 PM
Message:
Thanks for all the responses, great to hear them. I've never done this before, so wondering; this is the first time I was offered such thing!
Yes, the tenant is a student, senior at VTech. Parents are paying for one less headache to have I believe, haven't asked thou. My son is also one of the occupants in this condo who's bringing him in, and he's his classmate and friend. I thought it's pretty safe and nothing to worry about eviction or anything like that with the students, where the parents are guarantor for him. --152.119.xxx.xxx |
Full Payment (by Vogol [VA]) Posted on: Mar 10, 2023 4:56 PM
Message:
Thanks for all the responses, great to hear them. I've never done this before, so wondering; this is the first time I was offered such thing!
Yes, the tenant is a student, senior at VTech. Parents are paying for one less headache to have I believe, haven't asked thou. My son is also one of the occupants in this condo who's bringing him in, and he's his classmate and friend. I thought it's pretty safe and nothing to worry about eviction or anything like that with the students, where the parents are guarantor for him. --152.119.xxx.xxx |
Full Payment (by Vogol [VA]) Posted on: Mar 10, 2023 4:56 PM
Message:
Thanks for all the responses, great to hear them. I've never done this before, so wondering; this is the first time I was offered such thing!
Yes, the tenant is a student, senior at VTech. Parents are paying for one less headache to have I believe, haven't asked thou. My son is also one of the occupants in this condo who's bringing him in, and he's his classmate and friend. I thought it's pretty safe and nothing to worry about eviction or anything like that with the students, where the parents are guarantor for him. --152.119.xxx.xxx |
Full Payment (by Vogol [VA]) Posted on: Mar 10, 2023 5:04 PM
Message:
Sorry for the repeats, really sorry. My computer was slow, I kept hitting submit, my bad.
Admin: Please take out the repeat postings @ 4:56 PM pls --152.119.xxx.xxx |
Full Payment (by Jim in O C [CA]) Posted on: Mar 10, 2023 6:10 PM
Message:
In many states you can not require it but if tenant wants to it’s legal. --99.23.xxx.x |
Full Payment (by Vee [OH]) Posted on: Mar 10, 2023 8:38 PM
Message:
I used to do something like this for students - I put all into a joint escrow account, then draw out monthly to cover damages and actual rent - send a rent bill to tenant showing the rent account payments, this way you do not have to petition the escrow account to make payments and without being prepaid for rent only there is a damage buffer. --76.190.xxx.xxx |
Full Payment (by Vee [OH]) Posted on: Mar 10, 2023 8:43 PM
Message:
I forgot to mention there really is no such thing as a full payment until the unit is empty of all furniture, food and packages.
--76.190.xxx.xxx |
Full Payment (by zero [IN]) Posted on: Mar 11, 2023 4:41 PM
Message:
myob,
You can keep all the money paid early if you boot them for a legit reason?
Man I left a lot on the table if that would have worked here. --107.147.xx.xxx |
Full Payment (by Vogol [VA]) Posted on: Mar 17, 2023 12:26 AM
Message:
Again, thanks to all for your responses and nice advices. Nothing has happened yet, but it seems like it will happen soon. And there seems to be no pitfall to accepting the money, based on overall responses above; Thank you.
This sort of offer never happened to me in my last 20 years or so, but there is always a first time, I guess:) --67.161.xx.xxx |
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