All Forum Posts by: Faisal Zaman

@Alecia Loveless thanks for your input. I used to take QuickPay but the issue is that they can partial rent and extend their stay without rent b/c I couldn't process the eviction b/c of partial rent.. I guess it's really tough to block partial payment w/o the rent collection platforms :( End of the day, I am trying my best be afloat landlord :) 

Thanks @John Warren for sharing your thoughts and your experience with such scammers. Funny things for me was, the tenant left the property after the 5 days notification and they recalled 2 months old rent payment. That's right none of the online rental collection system can help this type of situation unless they consult with Landlord before refunding the already rents.

Agreed @Patrick O'Sullivan. Unless we have the tenants bank contact info there is no way we can challenge the dispute. So to me the platform should provide those necessary info to challenge the dispute. Transparency and going an extra mile from platform's billing team should be encouraged :) 

Thanks @John Warren for your input. I am trying to use PayScore combination with TransUnion full check, will also call the work numbers (lately it's becoming hard to validate with fake work numbers ;) )  Yes, we will be asking for security deposit + Last month rent with 700 FICO, hope that helps to get good tenants.

Thanks @Charles Carillo much for your suggestion. Yes, thinking about that option for our next tenants.. Agreed, it will impact the convenience and may strain with high-income tenants..  

I am also looking alternative to my current platform. My current platform return the 2 months back paid rent to tenant (defaulted, and left the property without paying last month) who claimed to the bank/CC that s/he did not authorized the rent. Now the platform withdrawn the previously paid rent without confronting the tenant's bank/CC... 

Now I am looking for a platform that will not allow tenant to dispute the paid rent or even there is dispute the platform should work with the tenant's bank/CC company. Try to find a solution any future issues like this.. 

Having burned with few tenants, I am considering to tenant income and asset verification on top of regular background check. Wondering if there is any combine service for these? So far I have check TransUnion smartmove which only does based on self reported income, but I am looking for verification from the employer itself.. 

Any thoughts? 

I am also looking for rent guarantee insurance. Looked at the SingleKey, looks decent.. But I think the better option is tenant pay for it, that way they will know it may go against them for not paying rent.. I will keep looking and update this forum.. 

Unfortunately one of my tenants defaulted in March'24. She paid rent till February using one of the rent collection platform that I have been using. Last week she recalled the February month rent saying that she didn't authorized the February rent.. Now the platform returned her the rent and asked me for withdrawal of paid rent in February. Based on IL law tenant cannot ask for rent refund.

Question, shouldn't the platform work with the tenant with to void the wrong claim since the platform has lease and all the transaction information that's the payment for February rent? Based on this recent experience, I have lost all the faith on these types of rent collections platforms.. 

Any thoughts how to avoid these types of situation like reverse rental payment?