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Updated over 3 years ago on . Most recent reply

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Demetrius Pettway
  • Contractor
  • New York
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Ways to accept rental payments from tenants

Demetrius Pettway
  • Contractor
  • New York
Posted

So i am getting ready to close on a duplex which comes with a tenant in one unit. My plan is to househack it and live in the bottom unit. Any advice on how I should collect rent? Are there websites I could use to help collect? Please advise, thank you. 

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Patricia Steiner
  • Real Estate Broker
  • Hyde Park Tampa, FL
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Patricia Steiner
  • Real Estate Broker
  • Hyde Park Tampa, FL
Replied

My clients and I (as an investor) only accept electronic payment of rent - Zelle, Paypal, CashApp.  It avoids the whole "lost in the mail, I sent it, excuses for late payment."  Our tenants actually prefer it as well.  I would recommend it to you so that you can preserve a boundary between your personal life and that of the "way too convenient" landlord.

Hope this helps...

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