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Updated about 8 years ago on . Most recent reply

User Stats

38
Posts
7
Votes
Laura R.
  • Investor
  • near Richmond, VA
7
Votes |
38
Posts

best way to pay the rent

Laura R.
  • Investor
  • near Richmond, VA
Posted

Hi All, 

I am a flipper, so I do not know the answer to my daughter's question as to the best way for her to pay her rent.

She and 2 roommates rent a cute little home from an elderly couple that is walking distance to their college campus. Each pays their portion of the rent separately. The first month, the owner came by and collected their checks. At that time, she dropped off a deposit slip with her banking info on it and asked the girls to wire funds to her account from then on so she doesn't have to come by and collect the rent. My daughter checked with her bank, and it is $25 or $30 to wire the funds each month, so this past month she drove over to the lady's bank and deposited her rent check directly into her account. I don't think she should have to do this, but I don't know a better way for her to pay the rent. She can do an external linking of the bank accounts, but I am not sure if the other account would be able to access her account if she does that. Suggestions? 

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