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.

[email protected]Podcast Guest on Show #261
BiggerPockets
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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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  • Curtis Mears
    Property Manager · Raleigh, NC · Member since 2014 · 728 posts · 596 votes
    5y

    @Mindy Jensen

    Almost exclusively online via cash app or venmo.

    0Reply
  • Brad L.
    Rental Property Investor · Manitowoc, WI · Member since 2016 · 178 posts · 186 votes
    5y

    Apartments.com only because they acquired Cozy. Loved Cozy, do not like Apartments.com

    1Reply
  • Edward Holland
    Property Manager · Hagerstown, MD · Member since 2021 · 33 posts · 25 votes
    5y

    I run my entire rental business (32 units) using Buildium software. its like ~$50.00 a month - so worth it! I can collect rent, post vacant apartments and its automatically uploads to all the websites,  manage finances, it makes tax season very simple, and I can even pay my contractors using the tool! highly recommend!

    0Reply
  • Josh Sicking
    Flipper/Rehabber · Gainesville, TX · Member since 2017 · 34 posts · 11 votes
    5y

    Tellus for all rent collection, it tells the tenants a week in advance to pay, and then reminds them as the due date nears

    0Reply
  • Madeline Dapper
    Investor · San Clemente, CA · Member since 2021 · 2 posts · 1 vote
    5y

    I use TurboTenant and have them set up autopay, the transfer takes 7 days which is a bummer but I like having all my payments shown in one spot. 

    0Reply
  • Rj Lindemann
    Real Estate Agent · Newton, IL · Member since 2020 · 19 posts · 22 votes
    5y

    Check, Money Order, Paypal, ACH if tenant is banking inclined.

    0Reply
  • Larry Fried
    Investor/RE Broker · Eugene, OR · Member since 2014 · 3k+ posts · 968 votes
    5y

    I was using Cozy.com which merged with Apartments.com.  I don't like their system much, but I only have one tenant making payments through that system, and his tenancy is coming to an end.  I have also used Venmo.

    Other properties are under PMs and they collect the rent.

    0Reply
  • Timmi Ryerson
    Property Manager · Ketchum, ID · Member since 2016 · 277 posts · 132 votes
    5y

    I use Smart Property Systems to collect rents, automate accounting and basically automate my management process.

    1Reply
  • Kevin Youngman
    Rental Property Investor · Chicago · Member since 2021 · 1 post · 0 votes
    5y

    cozy.co -> apartments.com but now transitioning to nestegg.rent

    0Reply
  • Nicholas R Paust
    Rental Property Investor · Easton, PA · Member since 2021 · 22 posts · 6 votes
    4y

    My current tenant uses Zelle.  Makes it easy for me to keep record of the transaction

    0Reply
  • Onika Washington
    Winter Springs, FL · Member since 2018 · 11 posts · 9 votes
    4y
    Originally posted by @Madeline Dapper:

    I use TurboTenant and have them set up autopay, the transfer takes 7 days which is a bummer but I like having all my payments shown in one spot. 

    I'm just getting started on TurboTenant. In speaking to one of ther reps, they have a feature that costs about $20 a month that allows the transfers to occur in 3 days. I'll be ordering that.

    0Reply
  • Amber Goins
    Member since 2020 · 5 posts · 1 vote
    4y

    I use apartments.com as they migrated over from cozy. It's not as good as cozy, and when I mentioned that it wasn't as intuative as cozy.co to an apartments.com rep, he did say he had heard that before and they have cozy.co people on staff working to make it better so that gives me hope. 

    In the meantime, I've started using Stessa.com to keep up with tracking expenses, etc. It seems cool so far except for having to go back in time and enter all the data for all my properties. I currently have 5 doors. My excel sheet was getting a little complex.

    1Reply
  • Nick Mavrick
    Investor · Littleton, CO · Member since 2021 · 2 posts · 0 votes
    4y

    Primarily Venmo

    0Reply
  • Thomas Smith
    Investor · Grand Rapids, MI · Member since 2021 · 1 post · 0 votes
    4y

    I run all my properties through Zillow Rental Manager and rent collection.  Zillow holds the funds for a few days to make a little float, but no other fees.  Works great.

    0Reply
  • Lisa Bryant
    Investor · Fort Worth, TX · Member since 2012 · 11 posts · 0 votes
    4y

    I use Venmo Non Goods and Services and Zelle. My lease is specific that any fees associated with online payments are tenants responsibility 

    0Reply
  • Zach VanDeYacht
    Real Estate Agent · Sarasota · Member since 2019 · 10 posts · 0 votes
    4y

    I used to use RentRedi although payment processing takes too long. Switched to Zibo a few months ago and never looked back. Also helps classify income & expenses + no fee for landlord or tenant.

    0Reply
  • Jonathan Jurss
    Member since 2021 · 3 posts · 0 votes
    4y
    I use a website called Zibo for online payments. And I also collect checks.
    0Reply
  • Jonathan Jurss
    Member since 2021 · 3 posts · 0 votes
    4y

    I use a website called Zibo for online payments. And I also collect checks.

    0Reply
  • Everest HarkeyPro Member
    Rental Property Investor · Colorado Springs · Member since 2020 · 29 posts · 19 votes
    4y

    I currently use Tenant Cloud but I also accept money orders, cashiers check, and bank check. I try to stick to those to keep my records organized, but I have accepted Zelle and Venmo as well.

    1Reply
  • John B. Waugaman Jr.Pro Member
    Investor · Huntington, WV · Member since 2021 · 18 posts · 6 votes
    4y

    Venmo is what we have found the easiest for all involved.

    304-563-5500
    0Reply
  • Howard Chen
    Investor · Sacramento · Member since 2019 · 34 posts · 22 votes
    4y

    I accept payment via Zelle, Cash App, Venmo, KeyCheck, Apartments.com(they bought Cozy) 

    0Reply
  • Sharon Carter
    Rental Property Investor · Everett, WA · Member since 2017 · 6 posts · 3 votes
    4y

    Started out with venmo/paypal but as my business scaled it was too manual for me to track who had paid rent & who had not, so I wanted something more automated & switched to Cozy.com.  But now that cozy has been bought by Apartments.com, I really don't like the interface.  Looking for new free payment app.  

    0Reply
  • Rocco Cunningham
    Member since 2021 · 1 post · 0 votes
    4y

    We take checks, ACH payments, and cash. 

    0Reply
  • Binod G.
    San Jose, CA · Member since 2018 · 11 posts · 4 votes
    4y

    Any comments on the new 1099-k requirement

    0Reply
  • Sendil Thangavelu
    Member since 2019 · 44 posts · 10 votes
    4y

    I used  zillow payments. The issue with it is that rents from multiple units can  come into only one Bank account. So I switched to avail where  each rental unit can be linked to a different bank account, to keep it all separate

    1Reply
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