Tenant Screening/Rent Collection Services

[Leonard Sanford Jr]

Good Evening BP,

I am in the midst of securing my first house hack under contract! It is a 3 bedroom SFH that I plan to rent by the room located in a college town. As I begin to proactively seek out potential tenants, I am wondering if there are any particular go to services that you all utilize to properly screen tenants? Also, what are some good rent collecting mediums that you all use? I was thinking of utilizing Apple Pay, Paypal, or even Venmo potentially. Any and all help is greatly appreciated!

[Sharlene Mulchandani]

@Leonard Sanford Jr I recommend looking into a free property management software that allows you to screen your applicants as well as collect your rent online. As far as I know, for you're thinking of using Paypal and Venmo for rent collection, you will require a business account to collect rent, since by using a personal account, you are in direct violation of their User Agreements. Also, through the use of a business account, you're likely to encounter fees to collect these payments.