Nice to be here. Question for the group...

[Wiley Hood]

Nice to be among so many successful property owners!  I have a question regarding a new tenant.  I recently purchased a property with an existing tenant.  They have a current lease which does not expire until next year.  I have every intent of honoring this lease, but need to set up the new payment arrangement.  Obviously, that aspect of the lease will change.  My question is, do I have the right to require them to pay me through my preferred method of receiving payments?  I currently use Rentredi for my other units, and it will require the new tenant to download an app.  

Anyone else come across this?

[Greg M.]

Since you are taking over an existing lease (contract), you need to follow that lease. Regardless of what is written in the lease, if the prior owner accepted a mailed check, you must accept a mailed check. Nothing says you can't ask the tenant to pay a new way.

Barring any local law that says otherwise, you can change this at renewal and require Rentredi. Keep in mind, many places have laws that list ways you must accept rent payments. Your preferred way might be Rentredi, but the law may allow 20 other ways to pay.