Collecting CASH rent

[Frank Nguyen]

What are some efficient and convenient ways to collect cash rent?

I have renter that was supposed to send me rent through cash app when we started the lease, however he was trying to say he couldn't get the app to work and that he could pay cash. I said ok and now it has been ongoing. I don't want him to come to my residence, so I have just been picking it up. So I'm trying to find out if there are any alternatives. Could I get him some deposit slips with my account number on it and have him deposit it to my bank account or is that not a good idea with him knowing my account number?

[Krista Olen]

My bank allows tenants to pay directly at any of their branches. All tenants need are the last three digits of the account. The bank teller gives them a receipt and when I check my account online I can see the payment with a note that has the tenant's name. 

You may want to see if your bank offers this or find a bank that does. It has worked really well for our cash paying tenants.

Collecting cash rent in person can be messy especially if you do not provide a receipt. This option provides a clear record of the payment and I can check my bank account online from anywhere to see if the tenant paid.