Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 12 years ago, 12/05/2012

User Stats

408
Posts
37
Votes
Ben Bakhshi
  • Investor
  • Atlanta, GA
37
Votes |
408
Posts

Poll: Why do you, or don't you, collect rent by credit card?

Ben Bakhshi
  • Investor
  • Atlanta, GA
Posted

Many people are against collecting rent by credit card because of the fees, as low as 2.9% + $0.30. Landlords would love to push these fees onto tenants, and vice-versa.
But given that so many tenants make payments a bit late, would you be willing to have a more steady cash flow for a 3% charge? The cash flow would be steady because even if the tenant is waiting for his paycheck in 2 weeks, he can still pay by credit card.
Is your answer different if you are a solo landlord or are using a property management company?
If 2.9% was too high for you, would you be willing to split the charge with the tenant?
We are self-managing our properties right now, and sometimes spend close to $30 in gas to collect rent.
The virtues of checking account direct deposit are obvious, but a large percentage of rent is collected otherwise: cash, mailed check, check in dropbox.

Loading replies...