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Updated almost 7 years ago on . Most recent reply

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27
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Matt Schambeau
  • Investor
  • Roswell, GA
9
Votes |
27
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How to accept cash for rent from tenant in Roswell, Georgia?

Matt Schambeau
  • Investor
  • Roswell, GA
Posted

I have a duplex with tenants I inherited that pay their rent in cash.  The current setup is I swing by once a month to collect the rent.  I'm going to have them sign a new lease, and don't want to collect the cash each month in person anymore.  They don't have a PC or the ability to pay electronically.  I wanted to give them some options of where they could still pay in cash, but I did not pick it up.  The duplex is in Roswell, Georgia.  I found a place called PayLease online that I hope to her from today.  Any advice will be greatly appreciated.

Most Popular Reply

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689
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Andrew Kerr
  • Rental Property Investor
  • Everywhere, USA
525
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689
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Andrew Kerr
  • Rental Property Investor
  • Everywhere, USA
Replied

@Matt Schambeau - I used Pay Near Me back when I did affordable housing. It worked pretty well.

A lot of folks will setup an account at a bank local to the property, and let tenants deposit cash into the account. They then transfer the money out right away. They basically use the account as a temp holding account only. You could try this method.

What I started doing for new tenants was to only provide an online application. I basically used this as part of my screening. If you couldn't apply online, I didn't want you as a tenant because I wanted rent paid online and maintenance requests submitted through the online portal. While this doesn't help now. But think about doing something like this for when you have to find new tenants.

Good luck!

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