Can a Tenant Voluntarily Pay Six Months Rent in Advance
A tenant with poor credit wants to rent a home, and is willing to pay six months of rent in advance, but Massachusetts law allows only for payment of first and last month's rent and a security deposit of up to one month's rent. Is there a way for the landlord to secure the money so that the rent is certain to be paid, without violating the law?
Re: Can a Tenant Voluntarily Pay Six Months Rent in Advance
The landlord should not accept a greater payment than is legally permitted. There are possible solutions, such as the possibility that the landlord might open an account that may be accessed by the landlord for rent payments; but there would be a chance that the tenant could take the money out. There are more complicated possibilities, such as the tenant's using an escrow service that would release rent to the landlord as it becomes due, but the landlord would have to be careful that any such arrangement was voluntary, as requiring an escrow service would almost certainly be deemed to be legally the same as requiring an excessive deposit.