Cash Deposit

Dolby

Dolby

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If someone says they'll do a cash deposit, will it show intantly on my bank statement (even if not available yet)?

My tenant said he'll do a cash deposit to me, which isn't showing on my internet banking as yet. I know the banks are closed now - so I'm wondering if he could have done it earlier and internet banking hasn't updated - or if he hasn't done it?
 
Unless it is cash at the ATM then it should show up between 16h00 and 18h0 when they empty the cash machine. My branch does this daily. Not sure about all banks though.
Or if it is via internet, sometimes people say cash deposit when they mean internet transfer, then it could take 2 days.
 
I actually just phoned the guy and he said he didn't manage :/

How long before I should get super angry with a tenant because they haven't paid? I know people have gone months before taking actiion - but I think if I haven't received anything by 01 April I take action
 
Sooner the better. The way things start are the best sign of things to come.
 
You can do real time clearance with some banks, it costs extra though. Otherwise you might need to wait, saswitch runs at night and even though most banks say it will take up to 48 hours it's normally processed that same night.
 
in my experience, if its a cashdep from an atm, you normally only see it a day or 2 later, although its an uncleared amount for a day or so...
 
Dolby said:
I actually just phoned the guy and he said he didn't manage :/

How long before I should get super angry with a tenant because they haven't paid? I know people have gone months before taking actiion - but I think if I haven't received anything by 01 April I take action
Click to expand...
Avoid getting angry as this will always cloud your decision making, but take firm decisive action immediately, i.e. within one day of a late payment.
The lease agreement describes this, and the fact that the costs will be to his account.
 
Dolby said:
I actually just phoned the guy and he said he didn't manage :/

How long before I should get super angry with a tenant because they haven't paid? I know people have gone months before taking actiion - but I think if I haven't received anything by 01 April I take action
Click to expand...

Give him a deadline, if you don't have the cash in your account by lunchtime on wednesday then you are going to take action.
 
Phone him every moring 4am and again at 11pm, and ask if the money is in yet. He would get the picture soon.
 
Deadline is today at 3pm ... next I'm getting a letter drafted to say he's in breach of contract and should start seeking alternate arrangements
 
Good idea dolby. It is the 10th of March he should have payed by now. No excuses. If he can't afford the rent then he is in breach of contract. He shouldn't have signed in the first place then. Not your problem!
 
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