Am I responsible for all the bounced check fees, since the checks wouldn’t have bounced if the bank had waited like it was supposed to before cashing it?
The bank’s not responsible, since the law lets banks cash post-dated checks before the date on the check.
As a landlord, collecting a check that has been postdated could be dangerous.
The tenant may know that he or she will not have the money in time, the check could have a stop-payment placed on it, or the check may bounce.
Post-dated checks are a risky form of do-it-yourself credit.
The main reason the law lets banks cash post-dated checks is that it’s too hard to look at checks for their date.
That’s if you warn your bank ahead of time about your post-dated a check, so it knows to be careful.
The law says you have to describe the check “with reasonable certainty,” and give the bank enough time to have "a reasonable opportunity to act.” Therefore, although it's not generally a good idea to write post-dated checks, the careful writer of post-dated checks will notify his bank as soon as possible about his post-dated check. Don’t be surprised if the bank charges a fee for having to be extra careful.Accepting a postdated check from a tenant may seem like a surefire way to get the money that you are owed, but this does not always lead to payment and sometimes may even lead to further complications.Unless you are 100 percent sure that the tenant can be trusted and that there will be funds to cover the check when it is ready to be cashed, it may not be a good idea to accept a postdated check.Mary Lamphere writes travel, real estate, wellness, health and business content for a variety of online portals.Her work has been featured by a number professional websites since she started writing in 2005.Only “properly payable” checks are supposed to be cashed by banks.