Warehouse Leasing-- Best Payment options for Tenants

[Beth Brandt]

I am a seasoned SFR investor and am under contract to purchase a warehouse space (16,000 sq ft). We will be leasing spaces to individual tenants. I have spoken with an agent who has worked exclusively in this space for years and have been told that for the Oklahoma market, warehouse tenants pay rent most generally by CHECK. I am having a hard time believing this is the case. Does anyone work in this space and have insights into the BEST practices for rent payments from their tenants?

[James Atkinson]

Hey Beth, most of the people I've seen in the space pay by wire transfer or direct deposit. I don't think it's uncommon to pay by check though. It should be a fairly easy process to set that up for the new tenant. If they're only willing to pay by check, it could be a red flag in my opinion. 

[Caleb Brown]

I have a warehouse space I lease for another business. They set me up on a website that I pay by wire transfer. Cash or check probably would work too but it's easier on that website. If you used check I would do copies and make sure you have proof each time