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Updated almost 8 years ago on . Most recent reply

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Dave K.
  • Rockford, MI
5
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33
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accepting rent in multifamily

Dave K.
  • Rockford, MI
Posted

How are you structuring your bank accounts to accept rent, to know who paid, if you have an automated/online system?

I have a 4 unit, that i have turned over from section 8/low income, to student housing.     I have tenants that want to pay by the year, some by the semester, and some by the month, all in the same apartment.    

Since i only have 4 units, i am planning to do 4 separate bank accounts, but that got me to thinking, how do they keep track of the big multi units?    website with login? paypal? etc

Most Popular Reply

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Mindy Jensen
  • BiggerPockets Money Podcast Host
  • Longmont, CO
10,048
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Mindy Jensen
  • BiggerPockets Money Podcast Host
  • Longmont, CO
ModeratorReplied

@Dave K. , I've seen other landlords alter the rent amount slightly, so you know who is paying what. Apartment A is $500, Apartment B is $501, Apartment C is $502 and Apartment D is $503.

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