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Updated over 7 years ago on . Most recent reply

User Stats

93
Posts
23
Votes
Sonu Sharma
  • Investor
  • Frisco, TX
23
Votes |
93
Posts

Collecting rents from tenants

Sonu Sharma
  • Investor
  • Frisco, TX
Posted
Hi all landlords, What are the different no cost/low cost ways to collect rents from tenants ? Planning on kicking out my Prop Mgmt company and save some green !! I read about PayPal but for some reason am not a fan of it !! Any other viable alternatives please ? Thank you !

Most Popular Reply

User Stats

52
Posts
24
Votes
JC Conchas
  • Investor
  • Torrance, CA
24
Votes |
52
Posts
JC Conchas
  • Investor
  • Torrance, CA
Replied

We use Chase bank accounts. We 10 units spread over three properties. We setup separate checking accounts for each property. I gave the tenants the account number for the proper account and have them deposit into the account each month. 

So far 7 tenants, have been using it flawlessly. The other three use either checks or cash. Which is fine because I like go to each property once a week, to show myself and keep an eye on everything. 

JC

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