Post Dated

[displacedsoul]

Been looking at rental houses,one of them that seems to suit us is asking for post dated cheque's. Is this normal and is it a safe way to do this,they want it paid 12 months in advance with these post dated cheques.Larry

[Singers]

Been looking at rental houses,one of them that seems to suit us is asking for post dated cheque's. Is this normal and is it a safe way to do this,they want it paid 12 months in advance with these post dated cheques.Larry

Do you have the facility with your Bank - the issuer of the checkbook - to cancel (stop) cheque's?? should the need arise.!?UK Tomps... Does this resemble the LandLord?? HeHe

Edited May 6, 2010 by Singers

[Gold Heart]

Been looking at rental houses,one of them that seems to suit us is asking for post dated cheque's. Is this normal and is it a safe way to do this,they want it paid 12 months in advance with these post dated cheques.Larry

I have heard of this and understand it is quite common. I have offen used pre-payment as a negotiating point to lower monthly rental rates as it is one negotiating term that you have. I think the advantage for the lessor is they don't have to chase you for payments. I don't know what your contract says if you end your lease before the term ends. Sometimes there is a fixed number of months you are required to pay. Sometimes you have to pay until they find a new tennant. You can ensure the terms for return of the checks are expressed in the lease. With US banks you can stop checks if needed. I don't know how that works with Philippines banks. I'll have to inquire with my banker.

[Call me bubba]

contact your local bank or try to find the rule in bsp.gov.ph what i try to suggest to all,is find a local "LAW BOOK" store, get the necessary info you need civil/criminal ,property. i have done this and its been very helpful to me.Instead of being a " ignorant" foreigner ,i used the rules/laws to help/protect my rights. and yes its common for some business/owners to ask for all rent paid(checks) in advance.