Best method of accepting rental payment?

[Dani U.]

Hello! I'd like to know your thoughts and experience on accepting rent payments. In the past, I've accepted checks with no problems and online transfers with no problems. Unfortunately, I just evicted a tenant this summer who bounced checks and I learned being able to transfer money into my account (with no option to deny payment) wouldn't be a good idea as it would delay eviction. Is cashier's check or money order the best way? But like Brandon Turner mentioned in his Managing Rental Properties book, "lost in the mail" can also be an issue. I've read some people are accepting debit or credit cards but this seems risky as well since they can call their bank to dispute the charge. Thanks for any advice!

[Rick S.]

Disclaimer: I work for a rent payment service.

@Dani U. check out some of the online payment options here as some of these can block partial payments:

https://www.biggerpockets.com/rei/pay-rent-online-...

Let me know if you have any questions since I am involved with the payment industry, as mentioned, so I am obviously biased toward an online option.  Thanks.