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Updated over 6 years ago on . Most recent reply

User Stats

53
Posts
11
Votes
Corey Jacques
  • Minneapolis, MN
11
Votes |
53
Posts

How do I find a way to Automate rent payment for me and tenants

Corey Jacques
  • Minneapolis, MN
Posted

Hello All, I am looking to find out what other investors do for collecting rent and automating payment with tenants. 

  • Corey Jacques
  • Most Popular Reply

    User Stats

    1,862
    Posts
    2,310
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    Wesley W.
    • Rental Property Investor
    • The Vampire State
    2,310
    Votes |
    1,862
    Posts
    Wesley W.
    • Rental Property Investor
    • The Vampire State
    Replied

    I ONLY accept rent payments through my bank.  They can pay by any appropriate means as long as it's in the account by the end of the grace period.  Here's a portion of my lease:

    2. RENT:

    A. You agree to pay the monthly rent indicated above via deposit to the following checking account at <<BANK NAME>>: account # 12345; routing # 678910  (nearest branch is <<address>>).Rent is due in advance and in full on or before the 1st day of each month without deduction or set off. Time is of the essence. Payment may not be made by third party checks. If rent is not paid physically at a branch (i.e. it is paid online or via bank transfer), the date of payment will be considered the date when funds reach our account. 

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