About using apps to collect rent
What is the best option to collect rent other than checks?
we have tried using PayPal but get charged a fee (about $50 on a $2000 transaction) … by agreement with our tenant, we are using Venmo but have to split the payment in two due to transaction limits.
this is our first and only rental, was our primary home for 15 years until we moved to a nearby town in 2020, we decided to rent it instead of selling.
One issue that may come up is that we are in the process of increasing the rent (our monthly payments went up by $300 due to changes in taxes and insurances) … and we have heard that it is recommended not to accept partial payments if the tenant disagrees with the increase. We are riding by $150 to mitigate our cost increase