Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago on . Most recent reply

User Stats

44
Posts
18
Votes
Todd Snyder
  • Rental Property Investor
  • Wooster, OH
18
Votes |
44
Posts

What hassle free ways do you collect rent?

Todd Snyder
  • Rental Property Investor
  • Wooster, OH
Posted

I am always looking for creative systems to improve my landlord experience. I currently use Cozy to collect rent for my duplex, but it charges my tenants 2.75% of rent if they use a card and don't link their bank account. Most tenants are fearful to link to their bank account and they certainly don't want to pay the 2.75% (I know I wouldn't). For this reason they try to pay with checks in the mail. I don't want to deal with the hassle of cashing checks or having to trust the tenant when they say the checks in the mail on the 4th. I still want to learn as much of buy and hold Real Estate as I can so property manager isn't on my radar right now. I live in Ohio and an hour away from my property. I'm curious what other landlords are currently using to collect rent?  

  • Todd Snyder
  • Most Popular Reply

    User Stats

    120
    Posts
    99
    Votes
    Harvey Yergin IV
    • Rental Property Investor
    • Columbus, OH
    99
    Votes |
    120
    Posts
    Harvey Yergin IV
    • Rental Property Investor
    • Columbus, OH
    Replied

    @Todd Snyder This has worked GREAT for us:

    Step 1) Setup a dedicated account with Huntington or Chase or some other user friendly bank

    Step 2) Give tenants routing and account number (we put it in lease with instructions for payment)

    Step 3) Tenant pays via online ACH or walks into bank and deposits check or cash into your checking account.

    Step 4) You get text notifications once the money hits your account 😁

    Tenants obviously can deposit but not withdrawn or anything else.

    Loading replies...