正文
Several points about only accepting money order, not cash
1. It's hard to demonstrate how much cash you accepted. For example, in case you go to court, if the tenant says giving you $1000, while you only got $500, how do you demonstrate that you're right? Remember, the court only look at fact, so you need physical evidence, such as copies of check or money order.
2. It makes you a crime target. If you're know to go around to collect rent at certain time of month, it might make you a target, especially in low-income neighborhood.
3. If you check the policy at large apartment complexes, they never accept cash, and they also have policies of not having any cash on premise.
4. If you think you can accept cash, and under-report income, well, you could do that. But rental business already give you a very good way to deduct most expenses, it's really not necessary to game the system in this way.
All in all, it's better not to accept cash, and instead leave a paper trail in rental. For example, in LZ's case, if he didn't accept the cash, and want to evict, it's very easy to convince the judge with the returned check.
Hope this helps.
http://www.sunskitehomes.com
1. It's hard to demonstrate how much cash you accepted. For example, in case you go to court, if the tenant says giving you $1000, while you only got $500, how do you demonstrate that you're right? Remember, the court only look at fact, so you need physical evidence, such as copies of check or money order.
2. It makes you a crime target. If you're know to go around to collect rent at certain time of month, it might make you a target, especially in low-income neighborhood.
3. If you check the policy at large apartment complexes, they never accept cash, and they also have policies of not having any cash on premise.
4. If you think you can accept cash, and under-report income, well, you could do that. But rental business already give you a very good way to deduct most expenses, it's really not necessary to game the system in this way.
All in all, it's better not to accept cash, and instead leave a paper trail in rental. For example, in LZ's case, if he didn't accept the cash, and want to evict, it's very easy to convince the judge with the returned check.
Hope this helps.
http://www.sunskitehomes.com
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