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Updated almost 14 years ago,

User Stats

119
Posts
8
Votes
Joel NA
  • Real Estate Investor
  • Bloomington, IN
8
Votes |
119
Posts

Rent Collection Issues

Joel NA
  • Real Estate Investor
  • Bloomington, IN
Posted

I'm going to be managing some properties on top of my own beginning this summer. Some of the properties are 20-30 minutes away in lower income, non-subsidized housing. About half of the tenants like to pay in cash or money orders for various reasons. I've read up on Rentmatic, but what I really want is a physical location for tenants to drop off rent (this is what they are used to in some instances). Many of the tenants aren't computer savvy and will balk at Rentmatic-type automatic debits.

I'm stymied as to how to provide a location without a storefront or person on hand to accept money. Does anyone have any ideas about how I could have a system where tenants can drop rent off without me meeting them (my personal residence is not an option). PO box won't work, will it?

What about a bank? Could I set up accounts at banks in the small towns where the units are and have them be deposit only?

Any other creative solutions?

Thanks for any help!

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