Originally posted by @Roger Garnett:
Doesn't matter whether they are across the street, or in another state - electronic payments beat checks in many ways. No collection, direct deposit, etc. You can try to use PayPal, but there are plenty of rent payment systems that add additional functionality - like starting with the application and background check, all entered by the prospective tenant. They allow the tenant to set up their account, and either make one-time or auto-payments. The systems will send reminders, and even notice and bill for later payments. All worth the usually low per-transation fees, which get cheaper with volume. e-payments are the way to go. Quicken has a $1 payment system, but does nothing else. I use erentpayment.com, https://www.erentpayment.com/ which serves my current needs with the above listed features. There are other services which add service requests and other functions.
Roger
Gotta watch out for things like Paypal where you can easily have charge-backs. You could get a few months in have the tenant complaint to paypal and get refunded all their money. something that just does a EFT/ACH direct to you is much better. For those that use quickbooks online, there payment system is the easiest as there is no manual matching up against your accounts receivables.
