All Forum Posts by: Jeff Blanchard

Venmo. Free, 1-day turnaround. All the kids are using it anyway.

@Andrey Y. I'm not sure why your receipt took that long. If it was the first time the payer had used the app, then there could have been some sync-up time with the account auth, etc.

A(n existing) tenant paid me rent yesterday via Venmo. I got the notification immediately and opened the app to 'cash out'; it's in my bank account this morning. Free for bother parties.

Maybe check with your bank as well?

I'm working on an API tool that will will auto 'cash out' when a new receipt hits the Venmo account, then ping my property management app to mark the rent as received, closing the loop and completely automating the process.

+1 Venmo. Also transfers to the bank are next day. Most of my tenants use this now and it has greatly reduced my clerical work as it pertains to rent.

This is great; I would love to try this out. Thanks!

Venmo: free, works, 1-day deposit. People are already using it in droves (especially younger renters). Use it.

Online payment is a requirement of being a tenant of mine. Most people, once they see the ease of use (of Venmo, which is my choice and a popular one) like it immediately. For those occasional people that simply don't want to link their bank account to an app, they can make a direct deposit at my bank (in person for via ACH, but they have to set it up).

Most people opt for Venmo.

+1 Venmo - really easy and I've had few tenants that don't want to use it. They have the option of doing a deposit at a local bank branch then.

Have them fill it out online; there a lot of ways to do this. Then you get an email with the summary, and can convert them easily into an active tenant in your PM application tool without having to re-key anything (are you using management software, right?).

True regarding the operations vs accounting applications. The trifecta I use is: Venmo for paperless rent collections, web app for property management operations, Quickbooks Online for accounting. These can be linked to push transactions between them with a little time & effort.

Web app for asset/operations management, income/expenses, repairs, etc; Quickbooks Online for the more advanced accounting. Almost done with an integration between the two...