Self Managing Rent Collection

[Jacob Wietholder]

I finally have my first investment property under contract, a duplex with two long-term tenants already in place in Davenport, Iowa. I plan on managing the property myself.

What method(s) are best for collecting rent from the tenants? I have researched that personal checks, venmo, and cash are not ideal. Should I utilize a direct deposit system though a checking account at a local bank?

[Bryan Martin]

Quote from @Jacob Wietholder:

I finally have my first investment property under contract, a duplex with two long-term tenants already in place in Davenport, Iowa. I plan on managing the property myself.

What method(s) are best for collecting rent from the tenants? I have researched that personal checks, venmo, and cash are not ideal. Should I utilize a direct deposit system though a checking account at a local bank?

Before I handed my properties over to property management, I used QuickBooks and would invoice my tenants with a link to pay by echeck.  I also tried Turbo Tenant which seemed simple enough and I liked it, but shortly after decided to hand it over to a manager as I wanted to be as passive as possible and it wasn't trending that way once I got to 8 properties with tracking down contractors for maintenance requests.