All Forum Posts by: Yengkong Sayaovong

@Matt A., I should've have dig deeper. This is the first time I am doing online payments rather then going from home to home to collect cash. eRentPayment was recommended to me by a friend who has been using it for a year and said it was really convenient for him with no issues. I just got new tenants in and have only been using them for 2 months with no issues. I will keep RentecDirect in mind as well for future. I don't want to switch on the tenants now with all of them only being in for a time period of starting on June 1st to 2 months or less.

eRentPayment has monthly, bi-weekly and weekly options.

I use eRentPayment. I charge $20 more per month if they want the bi-weekly option and $40 more if they want the weekly option.

Does anyone here have a finished basement and would you recommend it for a rental home?

I would look at the average water bill and increase everyone's rate how you see fit and just say water included. I don't think it's fair for 1 unit to be charge the same amount if the other unit are using say 3x more water. They will probably complain about it as well.

I have a chance at a duplex and a 3 unit home. The people who owned the home are my god parents so they are just handing it down to me.

Issue is that they have tenants in home already who sometimes pay on time and sometimes late a month. Sometimes they only give half the payment and will pay the next month. They have a lease but it was never enforced. The lease doesn't specify end date.

The rent is way below market as well. How do I go about this if I aquire the properties? My state law says I have to honor the current lease til end of term. But there's no specific end date.

I don't. I can only collect up to $20 per applicant for my state law so the other $20 is from my own pocket. It'll cost me more if I was to refund everyone's fees.

Not sure what the laws are where you live but for me, I had to honor current lease until contract ends.

The previous owner should forward the deposit to you.

@Alex S.

1. I work full time and also went back to school. I don't want to chase them around for rent.

2. I might be in a rush and forgot to count the cash so they didn't pay the full amount so it's now a you say I say situation.

3. I might lose the cash going from rental home to point b to home if I ever collect rent on a day I have to run errand.

@Jason D.

I heard of the service through bigger pockets. I'm having trouble setting it up though. They said an agent will contact me but haven't received any email.

The other similar service says I don't have enough rental homes.