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 7 years ago on . Most recent reply

User Stats

55
Posts
2
Votes
T Brown
  • Pittsburgh, PA
2
Votes |
55
Posts

tenants depositing into account

T Brown
  • Pittsburgh, PA
Posted

How does it work to have tenants deposit directly into your bank account? Do you just give them your account number? Isn't that dangerous? I've never heard of this and would like to understand the mechanics.
TIA
Trina

Most Popular Reply

User Stats

53
Posts
47
Votes
Melissa W
  • Syracuse, NY
47
Votes |
53
Posts
Melissa W
  • Syracuse, NY
Replied

The problem I have heard about with this system is that if you are evicting them and accept any payment at all, it invalidates the eviction and you're back to square one. So if they deposit five dollars in your account, you have to start the whole thing over again with notifications, court fees, etc.

Loading replies...