194 votes

Tenant claims they paid rent in cash and that it was stolen from a mailbox. What should I do?

I'd say your tenant is out $750, not you. How you handle it is totally personal preference. If you want to be the super-nice landlord and eat the loss this one time, then you might gain some karma ...
BobbyScon's user avatar
  • 14k
152 votes

I co-signed on an apartment for a now ex-boyfriend who refuses to pay. What can I do?

Advice based on USA style system. Do not pay it. Do not talk to the creditor. What you have is old debt. The debt is not still accumulating, it has stopped some years ago, and now, the debt is ...
Harper - Reinstate Monica's user avatar
133 votes
Accepted

Should I deplete my saving and buy a house with cash, or should I rent?

Because you don't have the jobs lined up, it makes more sense to rent for a few months for a couple of reasons: A: You should never deplete your emergency fund of 3 to 6 months for non-emergencies B:...
Adam Klump's user avatar
  • 1,269
93 votes
Accepted

Paying for a flat renovation to reduce rent payments in the future

I generally find that when two things are mixed together, it doesn't end well. Your friend wants to borrow the money for a renovation, and perhaps can't borrow elsewhere, and you want to live in a ...
Kate Gregory's user avatar
  • 13.2k
92 votes
Accepted

Tax implications of BTC for rent

Barter is a taxable event. You would owe taxes on the full fair market value of the Bitcoin the moment that you trade housing for it. Things would work the same way if you bartered baseball cards or ...
Shawaron's user avatar
  • 6,234
87 votes
Accepted

Currently sole owner of a property. My girlfriend is looking to move in with me and is offering to pay 'rent'. Am I at risk here?

The rent payment is in principle taxable. However, you should be able to take advantage of the "rent a room" scheme, and the proposed rent falls well under the £7,500/year tax threshold for that. So ...
GS - Apologise to Monica's user avatar
86 votes

Tenant claims they paid rent in cash and that it was stolen from a mailbox. What should I do?

Cash should never have been placed in the mailbox in the first place; this is what checks are for. I would be a bit surprised if that constitutes your accepting payment, but I Am Not A Lawyer. You ...
keshlam's user avatar
  • 46.5k
81 votes
Accepted

Is rent considered a debt?

Rent is not a debt because you have not borrowed any money from the landlord. Your current month's rent is a (very) short term liability, as are other payments for services rendered (like utility ...
RonJohn's user avatar
  • 50.7k
81 votes

Asked for a Western Union postal deposit receipt before visiting a rental property: is this a scam?

Your gut is correct, this is a scam. If you provide all the info requested they can change the receiver's name from your relative to themselves and take the money. The Western Union Receiver's Name ...
Hart CO's user avatar
  • 70.5k
78 votes

I co-signed on an apartment for a now ex-boyfriend who refuses to pay. What can I do?

After 8 years, you should have a fundamental understanding that things will not change with this ex-boyfriend. He may not be found, and even if he is, he will not pay any portion. Dragging him ...
Pete B.'s user avatar
  • 76.5k
73 votes

Is the apartment I want to rent a scam?

The two basic rules for not getting scammed while apartment hunting are: Never sign the contract before you inspected the property in person Never pay money to inspect a property in person Carefully ...
Philipp's user avatar
  • 23.9k
69 votes
Accepted

Is there any reason to not buy if mortgage is comparable to rent?

There are a few economical reasons to rent instead of buy including if the cost are similar. The first is that you anticipate that you might be moving soon. It is typically expensive to transact real ...
Pete B.'s user avatar
  • 76.5k
66 votes

Tenant claims they paid rent in cash and that it was stolen from a mailbox. What should I do?

This is fairly simple, actually. You should insist on payment for the rent payment you never received and stop accepting cash payments. If you want to be nice, and believe the story, allow the ...
HopelessN00b's user avatar
  • 1,521
66 votes

Math Behind Buying a House

Compared to the other answers, I feel like I'm taking crazy pills, because: Is my following calculation correct? Sorry to be the bearer of bad news, but no, this is not correct. In 3 years, if ...
TTT's user avatar
  • 47.2k
62 votes
Accepted

Holding rent money for my friend which amounts to over $10k?

Short answer: you're ok, just deposit it all at once and keep records. Long answer: the $10k rule is just what triggers an automatic bank report to the feds. Structuring the deposits into smaller ...
Rocky's user avatar
  • 24k
61 votes

Buy home and leverage roommates, or split rent?

what I should think about. How much cash can you put toward a down payment? Anything less that 20% will significantly raise your mortgage amount. What if your roommates decide that they want to move ...
D Stanley's user avatar
  • 135k
61 votes

Paying $185k back rent to sister - can I claim in taxes?

This is way too complex for a DIY. You need an attorney ASAP. With the amounts involved (hundreds of thousands of dollars), you may be able to get an attorney on commission (i.e.: you don't pay ...
littleadv's user avatar
  • 174k
58 votes

My landlord claims I didn't pay rent even though I can prove I did - What can I do?

I'm going to go out on a limb here, and say, based on the facts you presented, that the letter didn't come from your landlord, and someone else is trying to scam you! Here's why: As you pointed out, ...
TTT's user avatar
  • 47.2k
55 votes
Accepted

I've been scammed, but have the scammer's bank information

I'm not sure who the proper authorities are - but you can start with the Police, and they can help direct you to the proper authorities to report to. As for whether or not you should do it - Yes, ...
Zibbobz's user avatar
  • 4,374
55 votes

In the US, is it normal to not include an electronic way to pay rent?

Is it normal that rent cannot be paid using electronic methods such as a credit/debit card, or a bank transfer, or Paypal, or anything electronic? It's fairly common, especially with smaller ...
Hart CO's user avatar
  • 70.5k
52 votes

How much of a discount should I seek when prepaying a whole year's rent?

What discount they'd agree to (if any) will depend on a lot of factors. From my discussions with other landlords and reading on landlord discussion boards, many don't want to deal with prepayment. ...
Hart CO's user avatar
  • 70.5k
47 votes

Potential debt collection scam from National Credit Systems?

National Credit Systems is a genuine and reputable collections agency. It's a member of American Collectors Association and National Apartment Association. The web site and the phone numbers in the ...
Moyli's user avatar
  • 814
44 votes
Accepted

Given this phrasing in the lease, when should I pay my rent?

Just ask your landlord and agree on a date with him. From the way the sentence is worded, I'd assume you are expected to pay by the end of the 23rd, but really, there is no reason not to give your ...
Gweddry's user avatar
  • 578
43 votes

When leasing/renting out an owned property, is there a standard ratio between monthly rent and the mortgage?

No. The starting point is what other rentals are going for in the area. Supply and demand dictates a fair starting price. From there, you can adjust up/down for the fact that you know this person. (...
JTP - Apologise to Monica's user avatar
42 votes
Accepted

Tax consequences of paying "rent" to romantic partner that owns the house

In theory, partner treats home as 1/2 rental unit. This creates a far more complex tax return, forces depreciation and expensing of half of all costs, including all utilities and maintenance costs. ...
JTP - Apologise to Monica's user avatar
39 votes

Infrequent car rental vs. lease/buy

I think your math is fine, and also consider insurance costs and the convenience factor of each scenario. Moving a car frequently to avoid parking tickets will become tedious. I'd rather spend an hour ...
Rocky's user avatar
  • 24k
39 votes

In the US, is it normal to not include an electronic way to pay rent?

Is it normal that rent cannot be paid using electronic methods such as a credit/debit card, or a bank transfer, or Paypal, or anything electronic? It's highly dependent on the landlord/property ...
RonJohn's user avatar
  • 50.7k
37 votes
Accepted

How to show a landlord what we have in savings?

Landlords vary wildly on policy, some are more rigid than others on income requirements. In a college town it will be more common for potential tenants to not meet income requirements. For students ...
Hart CO's user avatar
  • 70.5k
36 votes

Landlord making up charges

The carpet seems suspect too unless you trashed it. The $177 feels illegal to me. I might go as far as leaning that way even if the rental agreement included the rule! (Just because something's in an ...
TTT's user avatar
  • 47.2k
35 votes

Holding rent money for my friend which amounts to over $10k?

Do one transaction, and if they ask, explain it: there is nothing wrong with this. Do not split the transaction into multiples to avoid the reporting threshold; that's structuring even if what you're ...
Harper - Reinstate Monica's user avatar

Only top scored, non community-wiki answers of a minimum length are eligible