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Updated over 8 years ago on . Most recent reply

User Stats

98
Posts
29
Votes
Susan Clark
  • Investor
  • Palmyra, NY
29
Votes |
98
Posts

Systematizing rent payments

Susan Clark
  • Investor
  • Palmyra, NY
Posted
I recently purchased and rented out my first rental property. I took the deposit and first months rent in person but informed my tenant that I wanted to automate things and when I found something I'd let them know how to proceed. I found a rental platform called "Cozi" each property had their own account my master account then they set up a payment option. This is a free site. My tenant did everything and payed the rent but informed me that they had to pay a $22 fee.He was not happy and wants to pay cash. I want my business to grow so I DONT want to drive around collecting rents. (I'm working 3-4 jobs just to get this rolling) I did tell my tenant I'd look into the charges and it turns out that if they want the service to be free then set it up using a checking account but if the want to use a card there is a 2.75%fee. My question is how do I respond to my tenant. I want to keep these guys they are respectful, clean, timely... but I also really need this system in place to help my growth progress smoothly. My tenants issue I guess us they get paid with a DSS card each month and that's how they pay rent but there is other money sources. What would you do? How would you approach this to be a win win for everyone. Thanks

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