It's a pretty new company so I wanted to hear other's experiences before I recommend it to my tenants. I also have some weekly paying tenants, will it work for them?
I have not used them but I am thinking of trying them first with one tenant and then with more if things turn out. They operate in both Canada and the US. I posted in an earlier thread on this, there are pros and cons to electronic payment. If I bank a postdated check the tenant knows it is going through their account and feels some sense of urgency in putting the funds there for it to clear. Electronic payment might give them more of a sense of control, perhaps being able to delay payment or omit to send funds. Ideally they would choose a recurring automated payment but it is not necessary that they do so in these systems. I am holding steady for now and have yet to try taking on the overhead to set an account up, but I am leaning towards trying Rentmoola later this year.
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