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I am being told that I can not except 12 months rent payment in advance because my tenant ran into some extra cash and she simply wants to pay so its out of the way! This has nothing to do with their security deposit! My realestate teacher at a class I am taking states I would be breaking the Law? Please advise

Robert S, CT on Wednesday, September 17, 2014

RE: Advance Rent

Most of the time in many states cash rent in advanced is against the law this helps to prevent illegal tenancy and in the case of eviction the need to refund a larger lump of money and avoid bigger money issues. If your tenant has come into a large sum of money they can put that money in a simple account and set up an automatic withdraw with you.

Posted by Derrick D, PA on Wednesday, September 24, 2014

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