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Updated over 8 years ago,
How do you collects rent?
We recently bought a 5 unit property in an older historic area that is seeing some growth. We got a good deal and the rents have been kept artificially low which allows plenty room for more cash flow. Only problem is that the current tenants don't have bank accounts and generally pay by check or money order. That means we have to show up several times at the beginning of the month to collect.
What are you guys doing to avoid having to physically collect rent payments? A couple of the tenants in this particular building aren't very savvy with the internet either.
Thanks!
Jason