All Forum Posts by: Oscar Rayo

I looked into Cozy and the long wait for my money was a big turn off.

For those tenants that want to pay with cash or check I produce bank deposit slips with account and business information printed on them. I give them 12 slips per year and they take money to bank into my LLC business account.

I scanned a deposit slip into my computer and added all the information and also print big capital letters apartment number and or address. All tenants have to do is write amount. I also make sure they text me when they make deposit.

By the way. Wells Fargo stop accepting cash from individuals other than account owner so now they have to use either a cashiers check or a personal check. Bit more complicated for those that get paid under the table and or tips.

Cheers.

Robin, thank you for the advice on LLCs.

Hello all from Tucson Arizona.

I am a Landlord and one of my biggest issue is finding ways to make sure my tenants pay rent on time and without fees.

As of the time of this post Zellepay through Wells Fargo is without fees (but you and I know this won't last).

My tenants who are under 30 seem to like this option very much.

Wells Fargo and many banking institutions offer Zellepay. Find more about this by going to www.zellepay.com. Check on website if yours does.

For us Landlords with a business account it is a bit complicated Wells Fargo my bank only allow Zelle transfers into personal accounts. I let you figure it out why. To get around this I opened a personal checking account and as soon as rent is paid I transfer the funds to my properties account.

Hope this is another tool in your tool belt (at least until fees start showing up).

Best regards.