Collecting Rent - No Office

[David Peskind]

Hello all, 

  I'm looking to sell my office, however, I am hesitant to do so as it is a common place to meet with tenants and collect rent (cash, checks, etc...) my question is what have you all found most effective in collection rents off line. P.O. Box? I do not want to have a rent collection box on site as I feel that's an easy way to have rents stolen. 

Thank you! 

[Alecia Loveless]

@David Peskind I use Venmo, the free portion where it takes 2-3 days to transfer into your account, FB pay, which takes about 10 seconds, and checks to my P.O. Box.

If someone wants to pay cash I ask them to get postal money orders and mail them or go to Walmart and get one of their certified checks and mail it. Obviously if you want cash you can arrange a meeting or something but as a small woman I do not want it in my house or car.

My tenants using the electronic payments all tend to pay the 1st of the month while my check payments tend to straggle in until the 8th or 9th. I have a grace period until midnight on the 5th. Of course they are all dated by the 2nd of the month but have not been postmarked until the 6th.