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Updated 8 months ago on . Most recent reply

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36
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14
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Stephen Reyes
14
Votes |
36
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Using Zillow for rent payments

Stephen Reyes
Posted

I am using Zillow to collect rent payments.  I like it because it is free, the tenants can pay online, it is automated, etc.  However, it takes 7-10 days (which is longer than Zillow claims) for me to actually get the payments.  Honestly waiting for the payment is not a big issue for me, however, I am worried if their payment does not "clear" I won't know for 10 days.  Am I worried about nothing?  Are there better platforms?

Most Popular Reply

User Stats

69
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51
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Christopher Cole
  • Rental Property Investor
  • Seattle, WA
51
Votes |
69
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Christopher Cole
  • Rental Property Investor
  • Seattle, WA
Replied

ACH payments by their nature take a few days to know if it actually clears (you can know faster for credit card payments). 7-10 days I'm guessing is something like this:

2-3 business days Tenant -> Zillow
2-3 business days Zillow -> Landlord

So in summary, you'd almost surely know within a couple days if the tenant sends a bogus payment, even if you don't get it into your bank account until later.

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