Payments towards rent

[Kate Jones]

Hey BP members. Couple of questions.

- What are ways you allow your tenants to pay you for rent?

- What is the most effective way to get paid? 

- Anything you learned not to allow?

-Any stories relating to issues you have had previously? 

[Brendon Pishny]

@Kate Jones

Depending on how many units you’ll have to decide on the cost effectiveness. I went with a property management software about 5 years ago and it changed my life for the 10 rentals I had at the time. I only allow my tenants to pay online. For an ACH transfer the fees are insignificant. This eliminates post office errors, etc. Plus it immediately gets posted to their ledgers. Also it makes you seem more professional and makes it more likely to get paid. Just my experience. Hope it helps.