All Forum Posts by: Account Closed

Please disregard original post. I'm trying to figure out how to delete it. I see that somebody has already posted about this in the forum!

Are other people having issues with getting their money from this company? I have a tenant that pays biweekly and her payment normally would have appeared in my account on Wednesday. I emailed them to see where it was and this is the response I got: Hello, Our processing bank has delayed deposits. Due to this, we are changing banks going forward so that this isn't an issue in the future. In the meantime, our processing bank (that we are leaving) has been holding deposits in what they have stated is an attempt to balance our ledger. The time that they have held funds is not acceptable, so as of today, here is what we are doing to get this resolved: They are still holding funds in a "reserve" account claiming they need to hold the funds in case of any future returns, however we have very few returns after the normal return period. We are no longer processing any new transactions through them since all new transactions will go through our new bank so here are the steps we are taking today: 1. Our lawyer is contacting them this morning to demand immediate release of the reserve funds. Our lawyer was not able to contact them this weekend since their office is closed on the weekends. 2. We have already talked to our bank to raise additional funds to put down to get the reserve account funds released. 3. We are also talking to past investment groups that have contacted us in case we need to raise any additional funds. We know this isn't the answer you want to hear, however we will get this resolved. We understand the issues caused by the delayed deposits and that regardless of the situation we have encountered you need a quick resolution. We will continue to update you as we receive updates this morning from all the parties involved. Rick Manager of eRentPayment Please let us know if there is anything else we can assist with. Thank you. I am not trying to talk bad about this company but this seems unacceptable to me. I would like to know if other people have had issues with them in the past. I was about to get new tenants enrolled in recurring payments with them but now I'm hesitant since I don't know if I can trust them.

Thank you for all of the replies! I just got a policy with Geico 

Peter G. That's why I said to go to Dollar Tree if you have one in your area. If you buy something they already have, you only wasted a dollar. Plus they're always going to need more toilet paper and paper towels. The shower curtain isn't just something you're adding in to be nice. If they move in and don't have a shower curtain, they are likely to shower anyways and just get water all over the bathroom which could damage your floors.

Mark Poulton I would've had all of my policies through them if they weren't trying to charge me over 3x what I'm currently paying for car insurance. The property insurance was reasonable but the car insurance was unreasonably high. I am glad it worked out for you though! It does sound like it makes things a lot easier for you to have everything with one company

I have tenants paying $1400 a month. Their credit is bad, they live paycheck to paycheck and it is unlikely that they will ever be able to save up a down payment or qualify for a mortgage. I'm sure you're probably wondering why I would rent to them if their credit is bad, but they make rent a priority over every other bill they have. The plus side for me is that since their credit is bad, they are less likely to leave because it will be more difficult for them to find another place. There's a good chance they'll still be there 5 years from now. I have taken my chances on some people with pretty bad credit and so far it has worked out for me due to low turn-over rates. I'm not recommending renting to people if their credit is bad because it is risky, but sometimes it works out. I think a lot of people who are paying a lot for rent are in situations similar to my tenants. They make decent money but aren't great at saving and don't have good enough credit to get a mortgage

I need to get an umbrella insurance policy. Are there any companies that will give me an umbrella policy when my other policies are not with them? I called USAA and they told me that they can only give me an umbrella policy if all of my underlying policies are with them. I currently have my primary residence and my two rental properties with USAA but my car insurance is with Geico. I looked into switching my car insurance to USAA so I could get the umbrella policy through them but the car insurance was way too expensive. I am happy with all of my current policies and would like to just get an umbrella policy from another company so I don't need to merge auto insurance with property insurance but I don't know if there are companies that will do umbrella insurance without the other policies being with them too. If it varies by state, I am in Pennsylvania.

I plan to get a welcome gift for whoever moves into my property I'm trying to rent right now. I was thinking of doing stuff that would be useful like paper towels, toilet paper, trash bags, a shower curtain, etc. I feel like these are some things that people might forget on move-in day and it could save them a trip to the store. I know my idea is boring but it's cheap since I can buy all that stuff at Dollar Tree and if the situation were reversed I'd find that useful on move-in day. I would also like to add something more personal in there so I am looking forward to reading some of the suggestions you get!