Receiving credit card payments for rent

[Anna Buffkin]

What is everyone's thoughts and opinions on accepting credit card payments from tenants?  

I have generally veered away from credit card payments as now the tenant is in debt to my company and the credit card company come the following month but accepted a payment for the balance of rent owed today.  This was a long time tenant and I know the backstory on what set her back financially.   I have never told a tenant no I don't accept credit cards but have also not been asked since I've had the capability to accept nor do I advertise that I can.  I do encourage ACH.   I have no policy currently though I keep a Word document with policies like tenant screens as I come across something I need to clarify. 

My question is, for those who accept credit card payments or who have done so in the past, do you find that it reduces your delinquencies or creates more headaches and issues? 

I'm not worried about fees as I am in a state that allows for credit card surcharges and if I start accepting them, I can write this into the new leasing agreements.

Anyway, from others experience, should I accept credit cards or avoid them?

[Nathan Gesner]

Credit cards charge hefty fees so you'll have to pass those on to the tenant.

I don't like credit cards because it indicates the tenant isn't managing their funds and walking a thin line. I hate to help someone get deeper into debt.

ACH payments can be made and then reversed but it's even easier to do that with a credit card.

Long story short, I prefer not to take them but I have done it on occasion.