Rent Collection - Mail, Collect In Person, or Direct Deposit?

[John White]

Just curious if you pick up your rent from your tenants (not an option I would ever want to do), have the checks mailed to a P.O. Box (I have no interest in having my tenants know where I live with my family), or have your tenants makes deposits into your bank account? I have a bank account for my LLC, so I'm thinking of just handing them some deposit slips, and putting the onus on them to ensure that the rent money is there on or before the 1st of each month. I'd rather not get into the "lost in the mail routine". I'm just curious how some other go about collecting your monthly rents?

[Aaron Montague]

I have a mix of all 3.  Several of my more annoying tenants are required to hand cash or cashier's check directly to my property manager.  Others mail checks in each month with no issues.

I recommend a service like Dwolla.com.  25 cents and it pulls directly from their bank account into yours.  Nothing in between except the internet.