direct deposit for rent payment

[Larry K.]

Does anyone out there have their tenants go to your bank with their rent check payable to you, fill out the deposit slip, and hand it to the cashier as a way of paying the rent?

I had previously always had them mail it but am now beginning to do it this way.

[Kevin Bender]

Originally posted by @Jaime Frausto:

I do the same with direct deposit however it gets confusing when a tenant pays late fees I don't know who's who? And some of my tenants don't know how to text. Any ideas?

Like others have said, make them use a deposit slip with the address on it-and- find a bank that posts pics of those slips online.

I have a bank that does real-time images of the deposit, so I simply log-on and see the amount, the pre-printed address on the slip, and the timestamp.

Also the money automatically sweeps out everyday so no major security concerns.

On my payment instructions I tell them "you must use either the pre-printed deposit slips or you must write your address on a blank deposit slip provided by the bank..blah blah....Failure to do so may make you subject to a late fee "