Tenant obviously wants to hold onto funds as long as possible and Landlord wants secured funds to hold the apartment. Which position is customary or reasonable here?
I've done this before but not for the length of time you've listed. I don't see a problem with at least asking about it. The landlord will simply earn interest on the money. But I do believe at least the security deposit or a portion of it will be necessary to hold the unit for you. Btw, check with the landlord on another issue, too. Depending on your state, I believe most landlords give you a certain amount of time to take possession of the apartment.
It's usually 2 weeks to 1 month.
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I personally wouldn't accept it. Also the landlord may accept, not notice and cash it anyway, and the bank doesn't care. Usually the bank will clear a post dated check before the date anyway. The bank doesn't care about the date. Your check should be dated with sufficient funds available on the date when you sign the lease agreement.
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Look at it from the LL's perspective. You sign a lease, give no money to secure the lease but post-date the check to be effective when the lease becomes effective. You find something else in the meantime, cancel the check, the LL is left empty-handed. A nutty post forgive my outspokenness but so outside the realm of reality. The LL's position is customary. If you were renting something would you considerate it rented without money in hand and turn down other people on a maybe If I take a check for the first month and deposit they do not get the keys until I have time to go to there bank and cash it.
Cash in hand holds a unit not a check that can bounce or be canceled. For the places I've lived with tenant protections, the answer would be both. In such places with legal protections, the landlord cannot require that you pay rent months in advance. Rent is due on the first of the month, never before, regardless of when you signed the lease. So the rent payment for Feb could be post-dated for Feb 1 Effective Dating and just when my idling mind thought of this as a matchmaking software, it turns out to be the […].
Why future of HRM Software: I agree with Denise that PeopleSoft does the best job in effective dating. SAP HR may try to do effective dating, but it organize data in a way more like a traditional application to me. If you want to have to dated sections of PeopleCode so that the right one is called depending on the effective-date of the transaction in hand, then you need to write more PeopleCode to get you to the right place.
And I could say the same about SAP. Naomi, I would like to add an additional consideration on effective-dating. Traditional HRMS systems use to track activities as in a single line of time. For example, one a employee joins an organization you keep track of all the events that happen for that single employee: However, life has changed and we are now living in networks: So, in this case, there is no line but a very fractal composition. It is a tree with branches, but the only difference is that there is no trunk, you always go back and find more branches.
Hopefully, there are a lot of folks at the HRM software vendors — at those vendors which are engaging fully social technology and social networks — who are working hard on the next generation of effective-dating, to include these more fractal-like requirements. Perhaps some of them will join this conversation to share their thoughts on how this might best be accomplished. Great post as usual. On the customer side the historical data section is one to really pay attention to during a conversion.
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Many legacy systems today as you document in your post do a poor job of effective dating. As customers begin to convert these systems to modern HRM software they are unfortunately going to have to make some very hard decisions about bringing over historical data into the new system.
This article discusses general laws about checks, postdating, and fraud.
The cost to scrub and map the historical data from the legacy system to the new system may be prohibitive for many customers. I hope that these modern HRM software vendors are designing into their applications a place to store, access and report on the historical data even if it is not converted directly into the main application tables or objects. Michael, Thanks for adding your thoughts on this critical implementation planning issue.
But this new generation of primarily SaaS HRMSs and SaaS talent management software, especially the best of them, have totally remodeled data structures, really object structures, which are quite a leap from their predecessors. Therefore, bringing historical data into these newer structures is going to take a lot of work. Perhaps some of our colleagues from those vendors with completely remodeled HRM software will share here the guidance that they are giving their prospects on this important topic.
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With a little effective dating here, and a little re-entrant code there, the first, modestly capable, retroactive processing […]. Naomi, I think that you are definitely think that you have hit the nail on the head with effective dating. I have worked with a number of HR systems, with the first being PeopleSoft and the last being SAP and some smaller systems in the middle and I have been surprised at the randomness that some of the systems use with effective dating.
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I am sure that thought was put into what was and was not effective dating but it appears to have not been enough thought. I am particularly surprised with SAP which I am fairly new to. For such a large and robust system, I am surprised with how many areas are not effective dated. Mainly it seems to be with their configurated items, such as Personnel Areas or Subareas, or Employee Groups.
But when I took training the SAP trainer even mentioned that if these have to be changed, ever, that you should just update the name to reference that it is no longer used. But users could still technically use the value! I think that I am spoiled because I started out on PeopleSoft, which I feel does a better job with effective dating than the other software that I have worked with.
The Future Of HRM Software: Effective Dating
A lot of manual effort, errors and automated work-arounds — with all the attendant costs — are the price of poor effective-dating. I totally agree with your benchmarks for effective dating. After several years of development we successfully built an effective dated model layer in our architecture that provides all the benefits you mention, and more.
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We have been using it in with clients since late last year, and have seen tremendous value in benefits administration where events occur before or after they are known, and elections and other decisions result in changes that take effect at some other time. With pervasive model-based effective dating, we can easily process elections for the upcoming new plan year at the same time as we handle life events that took place last week and data changes that happened every day since then. Here are some other things you should think about. In a fully effective dated model, when you go into the past, you have two dimensions of time: These provide very interesting possibilities when you can manipulate them independently.
Tom Cooper, Chief Architect at Workscape. Tom, thanks so much for your terrific comments. You must be logged in to post a comment. April 23rd, Category: September 13, at 4: September 13, at 5: