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Updated about 1 year ago on . Most recent reply
Banking problems
I own a lot of properties and take all the rents by bank deposit.
So each month I have over 15 different deposits in my account and some of the properties are the same rent amount.
I've previously asked tenants to send me a photo of the rent receipt after payment but they forget most of the time and I don't want to place an extra burden on the tenant or place the onus on them.
I personally find the bank system in the USA to be prehistoric. In Australia you need to write your name and usually a payment description when depositing money into someone's bank account so it would look like this:
John Smith
Rent for 18 Rowe St
Whereas my US bank statement is like a guessing game when trying to work out what's what. Furthermore I hate the fact I can't type in a description into a search box and filter all payment details from a particular tenant.
If anyone has some tips and tricks they use for handling this situation, I'd surely be grateful to hear.
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Can you give them pre-printed deposit slips that have their names on them?