I generally don't ever receive late rent because I use the Venmo payment system for electronic rent payment, which virtually every young person already uses.  

I've got recorded calls I post for my members demonstrating how I've done it in as little as 25 minutes with one phone call to then create instant cash via down payments of no less than $10k, cash flow, and back end profit when the buyer refinances and the total cost of the deal is $10 for good and valuable consideration so I have a legal and binding contract, 25 minutes to several hours on the phone negotiating the deal with the seller and the monthly cost of Docusign or Rightsignature so I can get the docs signed electronically because I do these deals all over the U.S. and never see any home or meet anyone. 

Have them pay rent electronically rather than mailing checks.

Why do you not have confirmation (even that screen shot) of taxes paid, properties settled and other significant documents filed hard copy and saved electronically in order to provide a lender this within 8 to 12 hours?  

Electronic only.

They charge around $450 for a standard single or small multi and report delivery is electronic.  

They are typically electronic docs that can be easily emailed to you.

Secondly I want tenant pay electronic fund transfer and not sure how to phrase it in the lease.

If international candidates are renting in our rooming house we simply take a holding fee (electronic payment).  

@Joe Holly  your tenant base in the B - C and D  are mostly money order folks and cash.REason:1. bounced to many checks and they are in a federal data base and will never be able to open a checking account under that SSN again2. foreigners  Hispanics don't trust banks and just use cash.The Aussie clients I had were astounded that renters could be in such a place as their system is far more advanced than us... no checks in AU  everything is electronic.