New Haven, CT · Member since 2015 · 9 posts · 2 votes
I am about to start managing 10 to 13 rental units in New Haven, CT. Does anyone have a good advice on collecting rent without chasing tenants?. My goal is to avoid cash pick up or drop off; unfortunately the previous manager got them use to that. I am going to need a reliable and experienced handyman (or 2) as well. I'd appreciate your advice, recommendation or just opinion. Thank you.
Investor · charlotte, NC · Member since 2012 · 121 posts · 21 votes
10y
Bank of America has deposit only cards and I believe so does Wells Fargo.. You give them the card with a pin..they go to an ATM and deposit the cash.. They can't withdraw just deposit. Also, some banks have ach withdrawal options. Basically auto debit the amount from their account. Because you are taking these over, I would tell them these are the changes depending on which you choose, and If you receive pushback, tell them if they do either and pay by or before 1st you'll knock off 25 bucks. Just my thoughts.