Rent payments

[Yulia Kaygorodtseva]

Hello, how do you prefer to collect the rent payments? Do you use ask your tenant to mail you money order/cashier check or set up online payment? if online, which web sites do you prefer to use?

Do you suggest to setup a separate personal checking account for just rent deposits? thank you!

[Che Chiu Wong]

Will have to beg to differ on this one.  Getting a checking account for each property / tenant will drive you headache once your size of portfolio grows.  With proper bookkeeping you can do just as well with one or few accounts.