Is there a way to autodraft payment from tenant

General Real Estate Investing

4yFollow

Is there a way to autodraft payment from tenant

Jeyo PunnakottilPro Member

Rental Property Investor · Houston, TX · Member since 2019 · 141 posts · 48 votes

Is there a way to autodraft monthly payments from tenants bank account if tenant agrees??

0 Reply

15 views

Most Popular Reply

Erik Browning

Lender · CO CA TX WA ID OR · Member since 2020 · 419 posts · 542 votes

Not sure about a website, however the tenant can contact their HR department to dedicate a portion of their paycheck to your account. This is called an allotment.

1 Reply

See this reply in the discussion

4 Replies

Jump to latestLatest

Sort by

Lien VuongBusiness Member
Real Estate Agent · Boston, MA · Member since 2018 · 2k+ posts · 1k+ votes
4y
Yea but you need their consent from their banking institution. Every bank has something similar like this.
[email protected]
The Elle Group5154 Reviews
Website View Page
0 Reply
Jeyo PunnakottilPro Member
OP
Rental Property Investor · Houston, TX · Member since 2019 · 141 posts · 48 votes
4y
Quote from @Lien Vuong:

Yea but you need their consent from their banking institution. Every bank has something similar like this.

Is there any website or forums about this .I am trying to see if i the bank will charge a monhtly fee to set an ACH draft
0 Reply
Erik Browning
Lender · CO CA TX WA ID OR · Member since 2020 · 419 posts · 542 votes
4y
Not sure about a website, however the tenant can contact their HR department to dedicate a portion of their paycheck to your account. This is called an allotment.
1 Reply
Adam Martin
Rental Property Investor · Member since 2020 · 1k+ posts · 1k+ votes
4y
The tenant can set up automatic payments through Zillow that is free if they use ACH. They can also turn them on and off but it is an option and I have a few that use it.
0 Reply

Join the conversationCreate a free account to reply, vote on answers and follow this thread.