All Forum Posts by: Matt B.

I've been using www.erentpayment.com for a few years now. Nothing but good things to say.   It costs $3 for each monthly transaction or if you have a lot of properties you can pay a monthly fee of like $10 for all.   The tenant submits payment by ACH transaction to erentpayment and then they send it to whatever account you want.  You can have separate accounts for each property if you want and erentpayment sends the email reminders to tenants when rent is due and when its late.  You can set it up so it will only accept full payments and have the late fees built in after a certain day of the month.   If you are really cheap, you can even defer the $3 fee to the tenant.    In addition, if you are the type of landlord to not want rely on unreliable tenants, you can make a tenant sign an authorization that automatically drafts money from their account each month and the tenant cant change or stop the auto drafts or have to be involved at all.   If for some reason they want out, their only recourse is to close the account if its within the scope of the authorization they signed.  

Just having the email reminders and the ability to only accept full payment is easily worth the $3.  

I've been through the eviction process in VA. Usually the lease doesn't separate individuals with separate rents, just that collectively they owe the total rent. So I'd say they are both in violation of the lease terms unless there is something weird that allows them individually to pay rent.

Its too late to help with this incident but my advice is to only accept full payments in the future.   This would pit the roommates against each other to come up with the full rent instead of them against the landlord for being the bad guy. 

Hi all,   I've been browsing the BP forums for a few months now.  I've been excited to see the wealth of knowledge available and actively shared.  So I figured I might as well take the time to become a member on the forums.   

About me:   I'm a part-time RE investor and I still consider myself a novice though I just finished my third property flip.  I still own all 3 and they are all single family homes.  I live in one, have been renting one out for years and bought my 3rd this year and spent many months renovating it on the side.  I just recently got a new tenant for this property moving in in December.  I'm excited to start seeing the cash flows next year.   

Other things:   I've done the 203k loan process for 2 of these so I have that painful experience I can speak to.  And I have an interest in small multi-unit properties (4-8 units) that Ill be browsing on here for answers to set myself up when the time is right.