FAQ: Are Tenants required to give post dated cheques?
Whenever possible, we prefer that Tenants use our online portal for payments. Once they are signed up, they have the option of using various payment methods. From direct banking to Visa credit, or even Visa debit, all through the online portal. There is even a feature called 'AutoPay'. When this option is selected, rent collection gets really easy. The payment method, that they have previously designated, is automatically used by the online portal to pay the rent amount on the 1st of each month. There is no need to remember or do anything. It just happens.
We encourage each Tenant to sign up for ‘AutoPay’ for obvious reasons. Sometimes a student is unable to pay online. For these Tenants, we request post-dated cheques for the year ahead. By law, in Ontario, we can not 'require' post-dated cheques for residential tenants.
Occasionally, we even take cash, although we try to avoid cash payments whenever possible.