Tenants using Credit Cards to Pay for Rent

[Kathy Kifer]

For my long term rentals, my tenants pay me by venmo, and I have had no big issues. Its fast and easy.

I have just listed a mid term rental on Furnished Finder. I see they suggest offering the tenants the option of paying by Credit Card. I am also getting leads where the person is saying they prefer to pay by card. 

I signed up for a Square Acct. I see that invoices or links can be sent. There is less of a service charge for the link, than the invoice.

What are your thoughts on taking the payment by Card?

If you collect by credit card, how have you set it up and at what point are you adding in the service charge that needs to be passed on to the tenant?

Thanks in advance for any advice!

[Allen Duan]

We've had no issues collecting rent by credit card. We come from a STR background so it's very normal. We use Stripe for our direct bookings and don't charge a credit card fee to our guests. Our pricing strategy covers the fee as just another operating expense. For context, we manage 20 MTR doors in Los Angeles. Never had a credit card dispute issue, I believe due to our screening up front.