All Forum Posts by: Kara C.

@David Dachtera I guess no one is using it.  Seems like the consensus is that there are a lot of better options out there, at least for recurring payments.  I do still think it could be useful for one-off payments though.

@John Kunick No, I don't offer any incentive for tenants to pay online.  My current tenants were all given the option of online payments or mailed check/money order at the same rental rate, but all future tenants will only be given the online option.  I do cover the transaction fee ($3.00) that eRentPayment charges, but landlords also have the options to charge the fee to the tenant, or to split it between the tenant and the landlord.  That said, all my rentals are single family houses with the lowest one priced at $995/month, so my tenant base tends more toward the higher income/white collar crowd.  They generally pay all their bills online and want the online payment option for their rent payment too.

I use erentpayment.com for all of my tenants except for one who still pays by check.  It's easy and inexpensive, and I'm requiring all future tenants to use it.  However, Square is intriguing.  I don't think I would use it for general rent collection, but I might consider it for something like lock-out charges where I expect a tenant to pay at time of service.  Might also be useful for application fees or initial deposits.  One nice thing about Square is that a lot more prospective tenants may be familiar with that service than with a specific rental payment portal.

I use Caleb Scott at the Larry Potts State Farm agency in Norman.  I've been very happy with Caleb.  The only issue I have run into is that State Farm (in Oklahoma) will not insure houses with the old Stab-Lok electrical panels.  I have one house with that type of old panel that I had to insure elsewhere.

Cozy's website says that ACH transactions are free, but credit/debit is a 2.75% fee, not $3.  A tenant with rent of $1000 would pay a $27.50 fee to use credit/debit.

I use erentpayment.com.  There are a lot of options out there.  I researched 35+ before settling on erentpayment a few years ago.

I have been happy with Oklahoma Inspection Service (OIS).  Fred Stuart is the owner.

I saw your CL listing not long after you first posted it.  I would suggest that you mention the price, give the address (or at least cross streets), and add more photos to the listing.  There's just not much information there.

Could you provide a link to your listing so we can give some feedback?  I searched Zillow and Realtor.com for a listing at your price and didn't see anything come up in Norman with the square footage you mentioned.

What condo complex is the unit in?  I'm a longtime Norman resident and may be able to provide some insight into the complex/neighborhood.

1% rent to purchase ratio is actually pretty decent for Norman--for a single family home.  But the condo association fees are going to cut way into that.  Whatever you decide on the deal, be sure to find out the monthly amount of the condo fees, as well as what they cover, before you commit.