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Trying to find payment software at no cost to tenant
I am a rookie with only 1 rental property as a house hack and I was using rent redi as my payment software until I realized that it charges the tenant a 10 dollar fee every time so goes and pays rent and I don't like that at all if I already paying them every month through my pro membership. I just wanted to know if there was a good payment system out there that doesn't charge the tenant for paying rent and preferably has the same capability of rent redi
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Apartments.com will do everything you need and it's free for you and the tenant. It automatically charges late fees once you set it up. I have 3 properties on it for 6 units without issues. I plan on using them still once I aquire another small Multifamily. It has other features as well like maintenance request, automatic reminders, etc. The downside would be it takes about 3 to 4 business days to receive the rent money. This isn't an issue as I push all my mortgages to pull from my bank on the 15th of every month for free.
Cue Nathan for his lengthy response. Needs to be a sticky. There's zero reason to be paying money for a rent collection system unless you plan on scaling pretty big or already have a bunch of units