Why do landlords use money orders?
A personal check has to clear. Two alternatives are a certified cashier’s check or direct depositing to the landlord’s bank. Money orders are generally preferred because the landlord has ease of immediate deposit, while you have a receipt which also allows you to do a trace to show it was deposited.
Do landlords have to take money orders?
Effective January 1, 2013, a landlord must allow a tenant to pay his or her rent and security deposit by money order, cashier’s check, or check. California Civil Code Section 1947.3 prohibits a landlord from demanding cash, and/or electronic deposit, as the exclusive forms of payment for rent or a security deposit.
Can you use money orders to pay rent?
Under California law, it’s illegal for a landlord to require cash and/or electronic deposits as the sole methods to pay rent. Landlords must allow a tenant to pay rent using at least one of these other options as well: check, cashier’s check, or money order.
How does a money order work?
A money order is a paper document, similar to a check, used as payment. You buy a money order by giving cash or other guaranteed funds to a cashier, plus a fee for the service. They print out the order, you fill out some information, and send or give it to whomever you’re doing business with.
What is the difference in a cashiers check and money order?
A cashier’s check and a money order are both forms of payment that can be used instead of cash or personal checks, but that’s where the comparisons stop. A cashier’s check is issued by a bank, are available in higher dollar amounts, are considered more secure than money orders, and the fee is more than a money order.
Can a landlord ask for 6 months rent in advance?
But the National Residential Landlords Association says it advises against big upfront payments. “We would encourage landlords to look for alternatives to asking for high levels of rent upfront. But there is no legal limit on how many months’ rent can be asked for in advance.
How do you receive a money order?
The steps below describe how to convert any money order to cash:
- Bring the payment to a location that cashes checks or money orders. Money orders are treated very much like checks.
- Endorse the money order like you would a check.
- Show valid identification.
- Pay any fees for the service.
- Get your cash.
How do you pay rent with a money order?
Keep your receipt.
- 5 steps to fill out a money order.
- Fill in the recipient’s name.
- Write your address in the purchaser section.
- Include your account number if you’re paying a bill.
- Sign the bottom where it says ‘purchaser’s signature’
- Keep your receipt.
Is a money order considered cash or check on a deposit slip?
Key takeaways. A money order is a safe alternative to cash or a personal check; it works like a check so you can cash it or deposit it into a bank account.