MB8 (Maryland)
Posts: 40
Posts: 40
Posted:
For clubhouse rentals, is it normal for a management company to cash the deposit check or do they just hold the check and return it there are no damages?
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Processing Clubhouse Rental Payments
Started by MB8 • 5 replies • 573 views
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MelissaP1 (Alabama)
Posts: 13,836
Posts: 13,836
Posted:
We had our own clubhouse committee. To rent the clubhouse, you had to contact someone on the committee. They asked for 2 checks. 1 for the damage deposit and 1 for the rental. You get the damage check back as long as determined no damages. So it's never deposited until after the renter returns the key.
I would say in typical rental situations like this, one holds the checks but never cashes until it's necessary for damages.
I would say in typical rental situations like this, one holds the checks but never cashes until it's necessary for damages.
Former HOA President
MB8 (Maryland)
Posts: 40
Posts: 40
Posted:
Quote:
Posted By MelissaP1 on 02/21/2019 8:35 PM
We had our own clubhouse committee. To rent the clubhouse, you had to contact someone on the committee. They asked for 2 checks. 1 for the damage deposit and 1 for the rental. You get the damage check back as long as determined no damages. So it's never deposited until after the renter returns the key.
I would say in typical rental situations like this, one holds the checks but never cashes until it's necessary for damages.
We had our own clubhouse committee. To rent the clubhouse, you had to contact someone on the committee. They asked for 2 checks. 1 for the damage deposit and 1 for the rental. You get the damage check back as long as determined no damages. So it's never deposited until after the renter returns the key.
I would say in typical rental situations like this, one holds the checks but never cashes until it's necessary for damages.
We require the same. One check for rental fees and one check for the deposit. For some reason our management company chases the deposit check. I never realized this until this week when a resident sent me an email Informing me that the magagment company hadn’t returned her deposit. When I questioned our property manager about cashing deposit checks, here is what she said:
“We can hold on to checks and return the actual check as long as the party provides two checks and does not combine the fee and the security deposit on one check. (Generally your homeowner send in two checks or money orders).”
“We should not put ourselves in the position of holding a money order and then mailing it back out unless it is sent certified, receipt requested. (Cost about $7.00). It will be a real headache if a certified check is claimed as not being received. Not in favor of returning a money order at all. Do not have a safe to place the money order in while being held. Who is responsible for the funds if the money order is lost or burned up if we experience a fire? And roof leaks happen and the money order is damaged in such an event.”
MelissaP1 (Alabama)
Posts: 13,836
Posts: 13,836
Posted:
Why then have the MC even get the deposit check? Just cash the actual rental check. Have someone on the committee or board member hold the deposit check. Buy a safe if you want to. I got one at Walmart not very expensive. Fire safe and with a key. There ya go!
Former HOA President
MB8 (Maryland)
Posts: 40
Posts: 40
Posted:
Quote:
Posted By MelissaP1 on 02/21/2019 8:54 PM
Why then have the MC even get the deposit check? Just cash the actual rental check. Have someone on the committee or board member hold the deposit check. Buy a safe if you want to. I got one at Walmart not very expensive. Fire safe and with a key. There ya go!
Why then have the MC even get the deposit check? Just cash the actual rental check. Have someone on the committee or board member hold the deposit check. Buy a safe if you want to. I got one at Walmart not very expensive. Fire safe and with a key. There ya go!
Those are good ideas! Sometimes I wonder about our management company. It might be time for a change.
SheliaH (Indiana)
Posts: 6,964
Posts: 6,964
Posted:
Ours usually hold the check and if there are no damages, the check is returned
If it is not right do not do it; if it is not true do not say it. Marcus Aurelius
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