All Forum Posts by: Mike Russo

Hi all,

I wanted to share a process that I just started using to automate my rent receivables. Chase bank offers a service called QuickPay, free to its customers. QuickPay is a process that you and your tenant can use to send and receive rent (as well as other) payments. It's easy to set up as long as you both have a checking account.  A complete explanation of the service is described here:

https://www.chase.com/online-banking/quickpay

In a nutshell, both the tenant and property owner set up a Quickpay account. When the rent is due, the tenant requests payment to be sent to the property owner. The property owner receives an email or text notifying that payment was sent. Then they simply accept payment into their account. If both sender and receiver have Chase checking accounts, funds are available to the receiver that day.

Happy investing!

Mike 

Thanks Ryan! I've purchased a years supply of filters and replace them myself. It gives me an opportunity to view the inside of the residence on a regular basis.

Mike

Thank you for the very thorough response Bill. I really appreciate it!

Mike

Very generous Phillip. Thank you. It's interesting that I'm getting answers that are all over the map but I really appreciate the different perspectives.

Mike

Thanks much Justin!

Mike

Thanks again Chris! Happy Investing!

Mike

Thank you Chris. I curious. Why will you repair the dishwasher and fridge but not the washer and dryer?

Mike

One more question folks. Who pays for a broken dishwasher, clothes washer or dryer, or refrigerator? I assume it is a question of normal wear or incorrect use.

Thanks again.

Mike

Thank you Westin and Kathleen! You both provided excellent suggestions. I have a walk-through checklist but I didn't think of photos. I will definitely take them prior to move-in.

Mike

I want to thank you all for taking the time to respond. What about chips in countertops and broken windows or screens?

Thanks again!

Mike