Does anyone know of services similar to Pay Near Me? I was excited to hear about this service however after talking to them they told me that they are no longer accepting new landlords for their services at this time.
Bigger Pockets Admin- I found them through your resources page, have you heard of this?
@Jeff Sheraton - PNM stopped servicing my area so I had to change services. I now use PayLease, the setup process is a lot more vigorous, but the money is deposited in my account the next day. You can use this link to see if there are locations near you
Signed the paperwork today! They also gave us the option to accept ACH and credit card transactions.
They gave me a Bigger Pockets discount that waived the entire monthly fee! @Brandon Turner you guys should consider adding them to the discounts page.
Under the perks for everyone I should say.
@Jeff Sheraton was curious as to your experience since you have been using paylease for a bit, I assume. I was using IPN till now, they are discontinuing now and like the added benefit of people able to pay cash at some locations as well. Also, what are their charges, could not see anything online.
I'd highly recommend PayLease. I've been using them for a while now with just about no issues. We are currently set up so tenants can pay online (through our website, check it out at www.sheratonproperties.com on the "residents" page) and at cash pay locations. PayLease gives you the option to charge the tenant for their service or eat the cost yourself. I set it up so that ACH transactions would be free to the tenants (they only cost us 50 cents). Credit card transactions are billed to the tenant (they are charged a %). Cash pay is also charged to the tenant ($4 per transaction). I think that some of these prices were initially a bit higher. I had shopped around and PayLease matched the lower prices.
PayLease offers a cash pay card that has each tenants account information on it as well. This service was $20 per month (not worth it in my opinion). You can just print the cards and hand them to the tenant. I've also had good luck just texting an image of the cards to the tenants.
@Jeff Sheraton great advice, I just contacted them to request more info!
Do you know if I can sign up as just an individual landlord? No PM Company no LLC? PayNearMe would not let me do this...
I don't see why they wouldn't, but I can't say for sure.
Thanks @Jeff Sheraton. I called paylease and they said the minimum units they can do is 100. I have only 24 units, so that is out of the question.
@Jeff Gates do you use the moneygram service and/or checkfreepay? How do you like it?
That's odd. I have over a 100 on there currently but I'm almost certain I started with less.
Another option might be to go through Quickbooks. I know they will process ACH transactions for 50 cents each.
Any updates on this?
I'm awaiting callbacks from a few retailers. It shouldn't be impossible to get one of the networks to take smaller landlords on board. I have 25 units hoping to have 35-50 by end of year, and personal pickup is becoming a huge headache.
I'll send an email to the PayLease rep I've been dealing with and see if they can make an exception.
Hey All - Looking to bump this thread as PayNearMe doesn't currently accept landlords for the PM software I'm using. Any luck from anyone else for cash payments for smaller landlords?
@Andrew Luong I tried to set up PayNearMe for my units. They now have a partnership with AMS billing and they want a $150 set up fee per address. So if it's a SFR that's $150. If you have a 20 unit apartment complex it's $150. I run SFRs so it is not cost effective for me.
We are still using PayLease. No complaints.