Digital Rent Payments

[Mark Abele]

What are the pros and cons of having tenants pay rent digitally?

What service or services have you used or are thinking about using?

Personally I'm thinking about using Google Pay (no fee with just bank accounts) since it integrates well with email and you don't need to sign up for anything to send payments (at least that's what they advertise).

[Gwen Fyfe]

I accept payment any way my tenants want to pay me. They're paying their rent? Awesome! Check, money order, cash, ACH, google, deposit-only debit card, whatever, get that rent to me and I'm happy.

For digital payments, I have used Cozy in the past, which is great. I use it for screenings, so tenants are familiar with it when they see it, and it automatically reminds them every month. Tenant pays fee. Appeals to tenants who are tech-savvy but not comfortable just shooting over the money on Venmo or whatever.

More recently I rented to friends-of-friends who are about my age, hippie millennials like me. They asked to use Google Pay and it works great too. I don't think my older tenants would be comfortable with it but I'm happy.