Here is a question for those experienced property managers.
How is payment of the bond handled (if paying by cheque). Does the tenant pay the bond to the landlord? If so, how do you make sure the cheque has cleared before you pass the money on?
If the bond cheque is made out to the bond people by the tenant, how do you make sure it didn't bounce?
I'm vaguely thinking about managing one of our properties myself so I thought I should find out this stuff first!
How is payment of the bond handled (if paying by cheque). Does the tenant pay the bond to the landlord? If so, how do you make sure the cheque has cleared before you pass the money on?
If the bond cheque is made out to the bond people by the tenant, how do you make sure it didn't bounce?
I'm vaguely thinking about managing one of our properties myself so I thought I should find out this stuff first!
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