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Family offering property to rent for cash payments

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    #32
    omega666
    Registered Users Posts: 595 ✭✭✭omega666


    Woopsey wrote: »
    Is there not a risk to the op that the owner is not paying their mortgage and the op could be kicked out with no record of payment.

    Nothing to suggest in previous posts that the owner is not paying
    his mortgage. You can rent for cash and still pay the mortgage.
    Also there may be no mortgage, it may be fully paid off.

    And owner is a family member of the OP so the chances of
    screwing them over would seem to be slim.


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    #33
    TheChizler
    Registered Users Posts: 9,455 ✭✭✭TheChizler


    bucketybuck wrote: »
    The same way tenants handled rent payments for years before electronic payments became commonplace? Ways that have already been mentioned in this thread?
    That's all that's being advised: when paying cash be sure to get a record of payment.


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    #34
    davo10
    Closed Accounts Posts: 6,926 ✭✭✭davo10


    Woopsey wrote: »
    Is there not a risk to the op that the owner is not paying their mortgage and the op could be kicked out with no record of payment.

    If the tenant does not have a fixed term contract (unlikely in the ops scenario that they would have one) the tenant can be evicted anyway if the property is to be sold. How or if the rent is paid would not effect that, the bank would want vacant possession.


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    #35
    Claw Hammer
    Registered Users Posts: 6,238 ✭✭✭Claw Hammer


    bucketybuck wrote: »
    The same way tenants handled rent payments for years before electronic payments became commonplace? Ways that have already been mentioned in this thread?

    A trail through a bank is foolproof. All this withdrawing at the same time every month, same amount leaves open the allegation that it was a set up. Before electronic payments became commonplace it was a frequent occurrence for landlords to deny ever getting a deposit. Years ago it was weekly payments in cash with a small deposit. An non-paying tenant was out on his ear quickly. Lost deposits were small and tenants moved on and wrote them off.


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    #36
    davo10
    Closed Accounts Posts: 6,926 ✭✭✭davo10


    Claw Hammer wrote: »
    A trail through a bank is foolproof. All this withdrawing at the same time every month, same amount leaves open the allegation that it was a set up. Before electronic payments became commonplace it was a frequent occurrence for landlords to deny ever getting a deposit. Years ago it was weekly payments in cash with a small deposit. An non-paying tenant was out on his ear quickly. Lost deposits were small and tenants moved on and wrote them off.

    It's a family member we are talking about here, offering a substantial reduction to a relative, Jesus wept, only in Ireland.


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    #37
    TheChizler
    Registered Users Posts: 9,455 ✭✭✭TheChizler


    davo10 wrote: »
    It's a family member we are talking about here, offering a substantial reduction to a relative, Jesus wept, only in Ireland.
    As has been pointed out it's not just concern about the landlord screwing them over, banks often require receipts to prove rental payments when applying for loans.


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    #38
    [Deleted User]
    Posts: 24,714 ✭ [Deleted User]


    Claw Hammer wrote: »
    A trail through a bank is foolproof. All this withdrawing at the same time every month, same amount leaves open the allegation that it was a set up. Before electronic payments became commonplace it was a frequent occurrence for landlords to deny ever getting a deposit. Years ago it was weekly payments in cash with a small deposit. An non-paying tenant was out on his ear quickly. Lost deposits were small and tenants moved on and wrote them off.
    TheChizler wrote: »
    As has been pointed out it's not just concern about the landlord screwing them over, banks often require receipts to prove rental payments when applying for loans.

    As I said though, whether they accept the withdrawl as being rent or not isn't going to be the difference between getting a mortgage or not considering loads of people have never rented and get a mortgage or move back in home to save and are therefore not paying rent in the key period in the run up to applying for the mortgage.

    The far higher savings enabled by lower rent will be far more beneficial in both getting the mortgage and increasing the deposit. It would be madness to pay a few hundred more a month (thus reducing savings by this amount) for nothing but a standing order appearing on your bank statement.


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