All Forum Posts by: Rick S.

 Hi Steve,

You can still use MetaBank through the ACH system as with the NetSpend card there will be a routing and account number for the card and the tenant can enter that like a bank account in a payment system.  That is a great option for tenants that want to use the ACH system but don't have a traditional bank account.

@Deanne Eytalis you may want to try reporting them to the bureaus first as I know that https://www.rentrecoveryservice.com/ has an option where you can report to just the bureaus for a flat fee instead of it being on contingency.  Maybe that will get their attention.  

@Vitaliy Merkulov on Zillow in the Data section for some properties there is a link to the County website which makes it pretty easy to confirm ownership without having to call.  

@Melissa Bogle sorry for the late reply as I was going to suggest checking with your local real estate groups but Edward and Raymond already mentioned that.  If that lease doesn't work then RocketLawyer and LawDepot are two others besides Ezlandlordforms that have state specific leases.

Also look at this forum to see if there are any additional clauses you would need to add to the state lease as:

https://www.biggerpockets.com/forums/52/topics/442...

Hi @Melissa Bogle what features are you looking for with contracts?  Let me know if you are looking for leases or document storage or both and I can message you with more information.  Thank you.

@Alexander Hamilton we went through this in December as we had to get the loan in our name then we had a lawyer submit a warranty deed to transfer the deed to the LLC. You are correct that banks may have an issue with this as they can trigger the due-on-sale clause of your loan if they find out the deed is transferred to an LLC. This isn't common, however it can happen.

We then notified our insurance company of an additional insured and provided them the name of the LLC.

I would recommend talking with a local real estate lawyer about your options as it is possible, however depending on your location the lawyer can probably provide you the best options.  It wasn't very expensive for the transfer also.  Let me know if you have other questions as I can message you.  Thanks.

@Austin Hughes are you requiring the $35.00 with the application or do you only require the $35.00 if you run a background check?  Maybe you could accept the application without the fee and only request the $35.00 if you decide to run a background check on them if they meet your criteria after you review the application.  I assume the $35.00 is to cover the cost of the background check.  

@Renee R. for this type of situation see if the tenant will get a pre-paid card, such as the NetSpend card, as they can use some of those cards like a bank account for electronic payments.  We recommend the NetSpend as NetSpend will provide the tenant a routing and account number they can use like a bank account with payment services.  

Not all pre-paid cards allow ACH debits though so make sure they check with the card issuer first.  If you need more information let me know and I can message you.

@Peter Sik in order to debit funds from an account most of the software providers and banks they work with are now requiring some type of bank account verification, such as micro deposits, before the debit can occur.  So that may just be a way for the manager to deposit funds to your account, but not debit, depending on the authorization.

Also, worst case scenario you could file an Unauthorized claim with your bank and have the debit attempt reversed as an R10 as that is the return code they use if returned within the specified time, which is typically 60 days from the time it appears on a statement.

ACH is very common and much more affordable for transfers as @Paul Ronto mentioned.  Thanks!

@Joe Kelley hellosign.com may have a limited free option that may work for you.