Residential Real Estate Broker · Orange County, CA · Member since 2016 · 46 posts · 21 votes
We're choosing between Buildium, Rentec, Appfolio, RentRedi & Yardi. Any advice on which one to choose?
Many of our tenants need to have the option to pay with cash or money order, so we chose the 4 companies above because they work with PayNearMe, which lets tenants to to 7-11 and places like that, where they'd buy money orders, and instead pay $4 to use PayNearMe to pay their rent. That sounds like we need it, so the cash payers can pay electronically. So, we're not looking at Avail, Rentler, Cozy, eRentPayments, Innago/Quickbooks, because they don't seem to offer a way to pay for cash payers.
We need to be able to customize monthly bills to add the monthly water bill amount. I also like the idea of tracking maintenance through the app. And, we need to send rent invoices by email.
Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
4y
Yes, we warn them that they either have to fill out their name and ADDRESS on a deposit slip or on their deposit receipt and send to us. If they don't they may be charged a late fee and receive an eviction notice.
Most deposit money orders, very few cash. Of those that deposit cash about 10% screw it up the first time. Most quickly identify themselves when they receive our daily nonpayment emails. Otherwise, we make them jmp through a few hoops to remove their late fee and warn them we will NOT remove their late fee if we have to waste our time tracking their payment next time.
Residential Real Estate Broker · Orange County, CA · Member since 2016 · 46 posts · 21 votes
4y
Drew Sygit - How do you know which unit each payment is for, when the tenants deposit it to your bank account? Do you give them a deposit slip or some way of connecting their deposit with their unit number? Thanks!
Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
4y
Yes, we warn them that they either have to fill out their name and ADDRESS on a deposit slip or on their deposit receipt and send to us. If they don't they may be charged a late fee and receive an eviction notice.
Most deposit money orders, very few cash. Of those that deposit cash about 10% screw it up the first time. Most quickly identify themselves when they receive our daily nonpayment emails. Otherwise, we make them jmp through a few hoops to remove their late fee and warn them we will NOT remove their late fee if we have to waste our time tracking their payment next time.