If a prospective tenant wants to pay rent with a money order only, is that a red flag for a landlord or property manager? Veteran landlord and property manager Hank Rossi, who is both a rental property owner, landlord and property manager himself, takes on this question.

Dear Landlord Hank:

We have a new prospective tenant who passed all the background screening and has good references. Our only pause is that she wants to pay rent each month with a money order. Do you see any red flags in that?

-Jim

Dear Landlord Jim:

We try to have our tenants pay ACH or electronic fund transfer from their bank account to ours.

That’s fast, secure and always there on due date.

I’m happy to take money orders or personal checks. Never had a problem with a money order although there are some scammers passing fake money orders.

When a new tenant is moving in though, I tell them they are welcome to pay deposit and rent with a personal check as long as there is time for check to clear.

Sometimes tenants move in quickly and there is no time-then we do bank wire or cash.

Anyway, I see no red flags with money orders for monthly rent payments.

Sincerely,

Hank Rossi

Ask Landlord Hank Your Question Below

Other recent Dear Landlord Hank posts you may have missed:

If A Good Tenant Loses A Job How Long Before You Evict Them?

How Do You Raise Rent For A Long-Time Tenant?

 How Do You Know When To Change Property Managers?

 Where Do You Draw The Line On Normal Wear And Tear?

Dear Landlord Hank: Do You Conduct Rental Inspections? How Often?

Dear Landlord Hank: How Do I Motivate My Tenants To Conserve Water?

Is An Old Drug Conviction A Big Deal?

Dear Landlord Hank: Should I Give A Tenant More Time To Pay?

Dear Landlord Hank: Tenant’s Sewer Line Clogged With Tree Roots

Tenant cannot pay rent

Landlord Hank at work on one of his properties