Why do Landlords prefer tenants pay rent in cash?
So my rent is going to be $750 but the deposit is $850.
My future landlord wants it in cash. Which I've heard of this once before. My former professor accepted rent in cash from one of his tenants. But that was the only time.
So she's actually the owner of the property. She told me she likes cash. That's a lot of money to carry around.
Is this a warning sign?
Should I still rent from her? She's retired so I don't see why she wouldn't want to hide anything? Don't people get their money back when they pay taxes?
- Raymond L.Lv 43 months ago
1. so she can get out of paying taxes.
2. fears a check will bounce.
Its; still kinda odd, I could see a money order though.
- e9601:Lv 63 months ago
No landlord ever asked for cash when I rented. Something underhanded is going on. IF you do give cash, get a receipt immediatly.
- Casey YLv 73 months ago
Old people are weird...cash never bounces.
- JohnLv 43 months ago
Yes. She's scamming you. 750? Cash? ROTFLMAO.
No "property owners" don't take cash. They have bills repairs and taxes to pay.
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- 3 months ago
The money belongs to them, but make sure to get an official receipt when you pay them.
- BixbyteLv 43 months ago
Whistle blowers that report people for not paying taxes to the IRS and if the person is found guilty for tax evasion the person that made the tip usually a reward is paid. I don't know is your landlord honest?
- 3 months ago
The rent money would have to be declared as income and taxes would have to be paid on top of the landlord's wages. They are likely not declaring the rent as income.
- JudyLv 73 months ago
Several reasons, but cash can't bounce like a check can.
- BryanLv 73 months ago
My guess would be so that they can under report their taxable income to the government. I think its unlikely to be a problem for you as long as you get a written receipt. No receipt, no money changes hands. You need to protect yourself by showing you paid your rent. Whatever else is going on doesn't appear to be your concern.
- hotstuffktrLv 63 months ago
Cash = no paper trail - more likely the landlord won't declare the rental income to the IRS.