How do you collect rent?

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How do you collect rent?

Mindy JensenPro Member
BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes

Hey hey hey BiggerPocketeers.

I'm doing a bit of research for an article for the BiggerPockets Blog.

How do you collect rent? Checks, Venmo, other software (please name names) or something else entirely?

Please let me know in the comments below.

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Most Popular Reply

Dan Leyden
Realtor · Stamford, CT · Member since 2015 · 116 posts · 56 votes
5y

I used to take it how ever the tenant wanted to pay. As I've scaled I've started using Tenant Cloud to keep everything organized. I found it was the easiest for me and tenants to use while not being a huge cost. 

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    5y

    Venmo, Paypal, Google Pay 

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  • Joe SplitrockPro Member
    Moderator
    Rental Property Investor · Sioux Falls, SD · Member since 2015 · 9k+ posts · 18k+ votes
    5y

    Our preference is ACH payment, which is what most every online rent payment system uses. We currently use Apartments.com after migrating from Cozy. I believe they are the largest processor of online rent payments. I do have one tenant who insists on sending checks. I have taken cash or cashiers check in the past. I have done Venmo several times on my short term rental, but they are not charging fees for business use.

    8Reply
  • Brandon Plombon
    Banker · Minneapolis, MN · Member since 2017 · 257 posts · 143 votes
    5y

    I am oldschool - I take checks or money orders. 

    5Reply
  • Dan Leyden
    Realtor · Stamford, CT · Member since 2015 · 116 posts · 56 votes
    5y

    I used to take it how ever the tenant wanted to pay. As I've scaled I've started using Tenant Cloud to keep everything organized. I found it was the easiest for me and tenants to use while not being a huge cost. 

    8Reply
  • Steven Cathcart
    Realtor · Cleveland, OH · Member since 2018 · 30 posts · 15 votes
    5y

    We use Buildium software for management and rent collection. Tenants can pay with electronic transfer or credit card (of which they get charged a fee). We also have tenants who use checks & money orders that they leave in a dropbox at the property.

    1Reply
  • Tiamo WrightPro Member
    Denver · Member since 2021 · 148 posts · 126 votes
    5y

    Zelle and Venmo

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    3Reply
  • Lisa K. Bruno
    Plano, TX · Member since 2020 · 22 posts · 15 votes
    5y

    We use Innago for rent collection and everything money related. This includes security deposits as well as tenant screening.

    7Reply
  • Matt Dabek
    Contractor · Kensington, CT · Member since 2014 · 39 posts · 16 votes
    5y

    @Mindy Jensen

    I use zibo.co after moving from cozy.co. I didn’t like apartments.com. Zibo is free for me and tenants.

    3Reply
  • John Teachout
    Rental Property Investor · Concord, GA · Member since 2015 · 3k+ posts · 3k+ votes
    5y

    Most direct deposit into our account at a local bank. We also have a couple tenants that pay with Venmo, one pays with checks.

    1Reply
  • Mariah Emerich
    Homeowner · Santa Ana, CA · Member since 2021 · 6 posts · 4 votes
    5y

    My tenants pay via PayPal or Venmo generally. 

    0Reply
  • Robert Spino
    Member since 2021 · 3 posts · 3 votes
    5y

    Zillow, Cashapp, cash, check, paypal, zelle, or venmo

    3Reply
  • Joshua Tessier
    Rental Property Investor · Manchester, NH · Member since 2019 · 186 posts · 156 votes
    5y

    @Mindy Jensen

    Apartments.com, Checks, and money orders.

    0Reply
  • Andrew FreedBusiness Member
    Investor · Worcester, MA · Member since 2020 · 1k+ posts · 1k+ votes
    5y

    @Mindy Jensen - I utilize ACH via apartments.com at any opportunity I can. I also attempt to have all of my tenants set up autopay  on that website so I can see instantly if anyone is delinquent or if their payment is in process on the first or third depending on the lease. I'll accept checks if the tenants are not technology savvy. 

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  • Mason Hickman
    Real Estate Agent · Sandwich, MA · Member since 2014 · 974 posts · 636 votes
    5y

    @Mindy Jensen

    I use Zelle; you’re texted when tenants pay, no fees, and the money is available very quickly

    7Reply
  • Corey Christian
    Investor · NEPA · Member since 2020 · 4 posts · 1 vote
    5y

    CASH!!! WITH RECEIPTS OF COURSE. 

    0Reply
  • Ed Clare
    Member since 2021 · 11 posts · 4 votes
    5y

    I've been trying to get tenants to pay via apartments.com, but I've found them to be resistant. Currently they're both paying me with Zelle

    1Reply
  • Jamie Yeung
    Member since 2021 · 2 posts · 0 votes
    5y

    Venmo and Zelle... Both have their benefits - Venmo you can look up transactions easier while Zelle goes into your account instantly incase you need to pay the mortgage on the 1st of the month.

    0Reply
  • Ken Dunn
    Member since 2019 · 36 posts · 36 votes
    5y

     I let a tenant convince me to allow them to pay using Google Wallet about 4-5 years ago. It worked great for about 6 months, then the bottom fell out. My tenant paid rent of $1,700 and had a receipt showing his payment. It did not credit to my bank account. I spent many hours on the phone making about 15 or more calls and speaking with a different rep (with a heavy Middle East accent) each time. It took about 45 days for “tech support” to figure it out and finally credit my account. Now all 18 of my tenants go to my bank to pay their rent in person. Thankfully 17 of them have a branch within a 5 minute drive. The other one has about a 10 minute drive. They can set up ACH / direct deposit if they want but currently they all pay in person.

    4Reply
  • Ray Peslar
    Realtor · Glen Mills, PA · Member since 2013 · 71 posts · 26 votes
    5y

    @Matt Dabek I HATE apts.com since the cozy swap. I have a few questions.

    Is zibo more user friendly?

    Easy to use with no lagging?

    Easy to add a garage with separate tenants from house with same address?

    Good for up to 100 units?

    8Reply
  • Jim K.
    Handyman · Pittsburgh, PA · Member since 2018 · 5k+ posts · 13k+ votes
    5y

    Right now, checks, money orders, Zelle, and cash.

    1Reply
  • Joe HammelBusiness Member
    Real Estate Agent · Metro Detroit, MI · Member since 2018 · 612 posts · 666 votes
    5y

    @Mindy Jensen

    Venmo

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  • Dmitriy P.
    Rental Property Investor · West Caldwell, NJ · Member since 2014 · 66 posts · 18 votes
    5y

    Venmo, Zelle and checks. Most of my tenants have been using Venmo. There are good and bad things about it. I’m aware it can gets tricky if the tenant makes or keeps making a partial payment constantly. If they’re doing so you can’t stop a partial payment on zelle and Venmo hence, making it harder to win an eviction case should you need to file. I’ve considered going the apt.com route but haven’t yet.

    2Reply
  • Chico Sajovic
    Member since 2021 · 17 posts · 14 votes
    5y

    I use Innago and apartments (formerly cozy). If you are using venmo, cash, paypal, checks etc. you are really missing out on some great accounting and management features that most of the property management systems have.

    3Reply
  • Michael DeYoungPro Member
    Holland, MI · Member since 2015 · 10 posts · 2 votes
    5y

    I use Cozy > now aparments.com. I liked it a whole lot better as Cozy. I only have a couple SFHs, so I don't have to manage a lot. If I had 5+ properties I would be much more concerned with switching away from apartments.com. I've accept checks and cash too, but all my tenants are paying online currently.

    2Reply
  • Nicole Heasley Beitenman
    Investor · Youngstown, OH · Member since 2017 · 2k+ posts · 2k+ votes
    5y

    RentmindMe!

    0Reply
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