Accepting Money Orders

[Kaybreh Mathis]

Hello! We are new owners of a 10 unit building. The tenants are all inherited. We currently offer two options for paying rent-depositing directly into our account at the bank and paying online via apartments.com. However, we have several tenants in this building who do not drive (can't get to bank) and who don't have bank accounts (only get paid directly onto a card from their employers). It's been a hassle this entire month. So I'm going to offer to accept money orders. For those of you who accept MO, what policies do you have in place? This is all new to me. Do you require it is postmarked by the day rent is due? Received by the day rent is due? Have them send you a picture of it going in the mail? I know there can be a huge tendency to say "the check is in the mail" and then lose several days in transit time before you discover that wasn't the case. Just looking for advice! Thanks!