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?

[John K.]

(in reverse order from normal:)

Best: Direct Deposit, even offer a $5/month discount if people are willing to signup for automatic withdrawls from their account.

Better: Have them mail checks to a PO box.

Worst: Pick the check up, if the tenant is late "has the check if you come pick it up" - as long as you live close just go pick it up.  It's not ideal but at the end of the day you just get your money.  Take this into account at renewal time then....