Bounced checks affect everyone. The bank collects a fee from both the person who wrote the check and from the person who tried to cash it. As a landlord you have the right to impose your own fee for bounced checks. The fee needs to be reasonable and never more than what the bank is charging. Whatever you decide, everything must be in writing in the lease or rental agreement.
It is recommended that you do not resubmit bounced checks. Instead, to ensure that you get your payment, ask your tenant for a money order or cashier's check. And, if your tenant seems to be establishing a pattern of bouncing checks, you have two options, insist upon a money order or cashier's check every month or start eviction proceedings. Make sure you keep good records of exactly what happened.
Bradford Miller Law, P.C. has been helping landlords for several years. We approach every client with a focus on integrity, advocacy, and understanding and can provide experienced legal guidance to assure that your assets are protected.
At bradfordmillerlaw.com you will find helpful landlord information along with information about our firm. Our experienced attorneys have earned membership in the Better Business Bureau and we have great reviews on Yelp.
To discuss your pending or potential real estate transaction, your ongoing legal needs as a property owner or landlord, building code violation defense or your estate planning concerns, call us at 312-238-9298 for a FREE 15-minute consultation.
Posted by Bradford Miller Law, P.C.
134 N. LaSalle Street, Suite 1040
Chicago, Il 60602
Offering free legal representation to homeowners seeking a short sale
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