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#335944 - 04/26/10 05:05 PM Out of State Potential Tenants
zpcsc Offline
Veteran Member

Registered: 08/29/05
Posts: 751
Loc: Florida
I am representing a potential tenant from another state. We want to make an offer on a rental but I don't have the escrow deposit check due to them living elsewhere. How do you work this out? Do you ask for the deposit and wait? Or can you put on the contract to lease under Deposit receipt, upon acceptance, or is this a no,no...They know that my customer lives out of town.

This is my first rental w/out of towners.

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#335948 - 04/26/10 05:55 PM Re: Out of State Potential Tenants [Re: zpcsc]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 4726
Loc: Vermont's North-East Kingdom
I'd have them wire you some real money or quickly get a Postal Money Order or Cashier's Check into your possession.

The news is filled with people who gain occupancy and then the Check for their 1st Month's Rent, Security Deposit and Last Month's Rent bounces. Not good!

I hope you know these Rental Tenant "Clients" real well (I've never had one of those!) My experience is such that when I hear the word "Rentals", I instinctively want to run the other direction. Good Luck Zoila!
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#336643 - 05/01/10 06:03 PM Re: Out of State Potential Tenants [Re: zpcsc]
HollywudLandlord Offline
Member

Registered: 06/23/09
Posts: 37
Loc: Hollywood, CA
I have been managing property for ten years and the only time I have ever been burned was when out of towners had me hold an apartment (that I stopped showing) only to be told when they got to L.A. that they were no longer taking the apartment.

It was the first and last time I have not gotten all of the security deposit ahead of signing the lease.
_________________________
Stirling Gardner consults for ezLandlordForms - your best online resource for a state specific Free Rental Agreement or Free Lease Agreement.

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#336914 - 05/04/10 06:03 PM Re: Out of State Potential Tenants [Re: HollywudLandlord]
Maui Offline
Moderator
Veteran Member

Registered: 01/13/10
Posts: 726
Loc: Maui, HI
Without a doubt, get real money into your hands. Whether they mail you a money order, wire you the money directly, etc., get the money before you go further.
_________________________
Visit a Maui Blog , then view our ActiveRain page and Maui Wordpress Blog for local events and market stats. View one of the best values of Maui luxury real estate in this Honua Kai Condo For Sale.

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