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General Landlording & Rental Properties

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Chad Hurin
Pro Member
  • Investor
  • San Diego, CA
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Tenant accustomed to current landlord picking up rent payments...

Chad Hurin
Pro Member
  • Investor
  • San Diego, CA
Posted Mar 18 2015, 12:39

Hi,

I just wanted to get some typical ways some of you landlords receive rent payments. I'm about to acquire rental properties where the long term tenants are used to the current landlord driving by each property and picking up the tenants cash rent. I, however, don't want to make the drive EVERY month to pick up cash to then drive to bank to despite, etc. The tenants are on the lower income side and seem not to be interested (or maybe unable; not sure) to open bank account to pay by check or transfer. I assume the only other way is for them to get a cashiers check or money order and mail to me? Eh, that seems slow. is the the next common way after cash pickup? Is there any other way you landlords have incentives for your tenants to find an alternative? Thanks BP!

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