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Updated about 1 year ago on . Most recent reply

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Daniel King
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What to use to collect rent

Daniel King
Posted

As the title reads, what’s the best platforms the BP community recommends for collecting rent, screening tenants, and anything else needed.

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Michael Smythe
#2 Out of State Investing Contributor
  • Property Manager
  • Metro Detroit
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Michael Smythe
#2 Out of State Investing Contributor
  • Property Manager
  • Metro Detroit
Replied

@Daniel King most DIY landlords use whatever works for them and their tenants.

Just NEVER collect cash in person! Too much risk and sets bad boundaries for tenants.

Many use Venmo, Zelle or just have tenants deposit at their bank (local branch).

There are also several free DIY PM softwares that have rent payment built in, but they charge the tenants a fee to do so (that's how the companies make money).

  • Michael Smythe
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Logical Property Management

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