Auto Draft from Checking

[Stan Plebanek]

I think I saw this topic discussed a while back, but I can't find it. I would like to have my new tenants agree to an auto draft from their checking to pay their rent in a timly manner. My bank said I could not do this directly since their names don't appear on my account. Has someone done this and how?

[Chad Pierce]

I have been using an online company called Clearnow for a few years. The first property is $14.95 and each additional property is $2.00 per month. They can pull from a checking or savings account. I have had great success with them and after 6 months, they even report the tenants to credit agencies. I make it a requirement and build the charge into their rent. I do not rent to anyone that does not have a savings or checking account or refuses to participate in the auto draft program.