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  • Shant
    replied
    I wouldn't download a new financial app just to pay rent, especially one that I've never heard of (zelle). My tenant texts me the rent using Interac but that was my tenant's choice, I had actually requested cheques since apparently I am a dinosaur...

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  • Larry Ragman
    replied
    If you are going into the landlord business, it is a good idea to automate the processes and make them as professional as possible without driving costs up. Along those lines there are several good (some free) rent payments services that might appeal to technologically savvy tenants and that are easy to use. I know people that use apartments.com and also Cozy. Both fine. Many other options.
    5 Best Online Rent Payment Services for 2021 (fitsmallbusiness.com)

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  • DocNextDoor
    replied
    My son’s most recent apartment landlord only would accept payment by check in the mail, I would recommend any other option.

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  • justlearning
    replied
    1- Keep the money in separate account using Zelle, Venmo, check etc whatever works for you and tenant is OK.
    2- Read the state laws about security deposit etc. You may need to keep the security deposit in an interest yielding escrow account etc.

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  • pedsmd
    started a topic best way to collect rent

    best way to collect rent

    We bought a rental property that we (finally) have a tenant for. What are the best pays to collect rent? I was going to have the tenant zelle to the account which I manage the property from. I've read about other options like apartments.com. Any other thoughts?
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