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Updated over 11 years ago,
Rent Collection Question
Hey All,
So we just bought our 2nd rental property. On my first one i drive by and collect the rent every month. However now that we are adding another one, and soon a 3rd. I don't want to make a habit of this for all my tenants. So, I have several ideas but wanted to see what everyone else does and thoughts.
Option 1: Start a new bank account and give that to the tenants to have the money deposited by the 5th of the month.
Option 2: Have them mail the check to me to be received by the 5th of the month.
What do you all do and what works well?
Thanks,
Chris