PayPal is free, unless your tenant can’t follow instructions

[Anthony Wick]

I know there’s a ton of posts and questions about how people collect rents. I’ve been using PayPal for quite a while. It’s free to landlords and tenants, and I get my money within 24 hours (the first time rent payment does take 3-4 business days).

However, twice now tenants have selected the “pay for item or service” button instead of “sending to a friend”. That option would charge me 3%. So I refund their entire rent, which refunds the fee, and then they need to send rent again. It’s a pain and delays me getting rents.

My point here? I may need to switch how I collect rents. I just don’t like the other free services that take 3-5 business days to send me the payment. And I sure don’t like any service that I have to pay for to get my rents.