What's a good online Rent Payment System any of you are using?

Multi-Family and Apartment Investing
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What's a good online Rent Payment System any of you are using?

Mark Mosch
Rental Property Investor · Los Angeles, CA · Member since 2014 · 120 posts · 88 votes

Hi All - wanted to know if anyone is particularly happy with any online payment system for their multi-family properties?  There's these sites like Cozy.com, SparkRent, eRentPayment.com and the like (I also saw a list on a Bigger Pockets blog post) - but I wanted to hear if any of you are using any that you particularly like.  I've got about 60 units up in Montana, and I'm thinking about trying to move them away from checks to some sort of online service and/or App.  Any feedback would be greatly appreciated.

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Stephen Hundley
Realtor · Lafayette, LA · Member since 2011 · 297 posts · 175 votes
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I am using sparkrent for my single family homes and enjoy it very much.  It's a $1/m per unit and well worth it to me.  Very easy to use site. 

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  • Stephen Hundley
    Realtor · Lafayette, LA · Member since 2011 · 297 posts · 175 votes
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    I am using sparkrent for my single family homes and enjoy it very much.  It's a $1/m per unit and well worth it to me.  Very easy to use site. 

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  • JR C.
    Knoxville, TN · Member since 2013 · 62 posts · 216 votes
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    I use IPN (Intuit Payment Network) now. It is 50 cents a pop and works flawlessly. I also have an account with erentpayment.com and it is great too but it is $3 a pop. For a third option, I occasionally use Square Cash. It is totally free.
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  • Mark Mosch
    OP
    Rental Property Investor · Los Angeles, CA · Member since 2014 · 120 posts · 88 votes
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    thanks, guys.  Do you require your tenants to use the system or make it as an option?  I was wondering what kind of adoption % you get by the tenants...

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  • Stephen Hundley
    Realtor · Lafayette, LA · Member since 2011 · 297 posts · 175 votes
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    I make it a requirement to be able to rent my property.  No one has complained and I've found they actually prefer it as well. 

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  • Ciro LoCascioPro Member
    Investor · Queens, NY · Member since 2013 · 135 posts · 39 votes
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    I've been using erentpayment.com and it has been great. Customer service is on point and I will continue using their services.

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  • JR C.
    Knoxville, TN · Member since 2013 · 62 posts · 216 votes
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    It is indeed a requirement on my leases. Of course the tenant must have a bank account but I wouldn't rent to someone without a bank account anyway.
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  • Michael Faulk
    Realtor · Shreveport, LA · Member since 2012 · 311 posts · 58 votes
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    Have you guys tried PayNearMe. Through BiggerPockets the service offers  a waiver of the $199 set up fee. I will be trying it out at one of my properties starting December 1st when a new tenant moves in. 

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  • Jon Holdman
    Rental Property Investor · Mercer Island, WA · Member since 2008 · 22k+ posts · 14k+ votes
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    I have Chase quick pay and paynearme set up.  One tenant uses quick pay, another just deposits the rent directly.  No takers on paynearme yet.

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  • Steve Olafson
    Scottsdale, AZ · Member since 2014 · 659 posts · 536 votes
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    I just sent an email to my office to test out sparkrent.  We are paying $3 per transaction now with erentpayment.  I like them a lot but one dollar sounds better.

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  • Chris K.Pro Member
    Investor · Baltimore, MD · Member since 2012 · 1k+ posts · 655 votes
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    I'm using erentpayment also and it's been working fine for me. I would love to have something like PayNearMe but from my reading their setup requires a registered business and some people have complained of not getting responses from customer service.

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  • Shawn M.
    Investor · New Haven, CT · Member since 2012 · 285 posts · 175 votes
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    How about FREE ? Try williampaid.com
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  • Aaron Montague
    Rental Property Investor · Brookline, MA · Member since 2013 · 1k+ posts · 777 votes
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    Dwolla.com

    25 cents per transaction.  They have a nice set of tools.

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  • Bill Sargeson
    Real Estate Broker · Burlington, NC · Member since 2013 · 95 posts · 52 votes
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    I use paynearme and love it!

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  • David Roberts
    Brownstown, MI · Member since 2014 · 344 posts · 98 votes
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    A friend of mine uses quick pay with chase because it's free and easy, and I think I'm going to start that as well on my next couple of rentals.

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  • Arnie Guida
    Residential Landlord · Greenfield, WI · Member since 2013 · 299 posts · 126 votes
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    PayPal.

    No fees.

    0Reply
  • Kevin C.
    Investor · McKinney, TX · Member since 2009 · 405 posts · 160 votes
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    I use Chase's Quick Pay as well - can't beat free.

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