Solutions for Rental App and Receiving Rent Payments online

General Landlording & Rental Properties
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Solutions for Rental App and Receiving Rent Payments online

Darius Johnson
Investor · Athens, GA · Member since 2013 · 58 posts · 7 votes

I am looking for a way to receive Rental applications online and collect the Application Fee.

Also I am looking for a way to collect rent online.  Something nice, professional and affordable.

Anybody got any good solutions they are using?

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Dana Dunford
San Francisco, CA · Member since 2016 · 238 posts · 204 votes
10y

@Darius Johnson -- I use my own software to collect online applications, initiate application fees (request money), and collect online rent. 

Here is the list of solutions BP recommends for online rent collection. Some of them may also collection application fees, so you should check.

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  • Meghan McGuire
    Investor · Saint Louis, MO · Member since 2013 · 10 posts · 3 votes
    10y
    Check out cozy.co
    0Reply
  • Dana Dunford
    San Francisco, CA · Member since 2016 · 238 posts · 204 votes
    10y

    @Darius Johnson -- I use my own software to collect online applications, initiate application fees (request money), and collect online rent. 

    Here is the list of solutions BP recommends for online rent collection. Some of them may also collection application fees, so you should check.

    1Reply
  • Tom Ott
    Equity Raiser and Turnkey Provider · Cleveland, OH · Member since 2016 · 4k+ posts · 1k+ votes
    10y
    Originally posted by @Darius Johnson:

    I am looking for a way to receive Rental applications online and collect the Application Fee.

    Also I am looking for a way to collect rent online.  Something nice, professional and affordable.

    Anybody got any good solutions they are using?

    Hello Darius,

    That is a great idea! More and more investors are moving to an all electric system. Although, I sometimes get push back from old fashioned tenants, I really love the idea.

    I am not here to tell you what to do, but I prefer AppFolio. (is that a plug?) 

    It is nice using a system that tracks all of the tenants and properties in one place. The software can also do accounting. 

    There is also a way to do background checks, do online payments, and collect applications all online.

    Maybe they have a demo for you to look at.

    Please let me know if you have any questions.

    0Reply
  • Account Closed
    Investor · Princeton, TX · Member since 2014 · 1k+ posts · 1k+ votes
    10y

    The cheapest is doing ACH by yourself.  I think the going rate is about 0.8%.  If you have a business account at a good bank, they can help you do it.

    0Reply
  • Dana Leviel
    Investor · Spring Valley, CA · Member since 2016 · 10 posts · 1 vote
    10y
    It's funny, I was just talking to my brother yesterday about wanting to build a comprehensive app with all of the basics needed for rent collection, credit checks, property listing, and reviews. His big issue is who is going to be willing to pay 3% to collect the fee which is what a lot of card companies charge when placing in the pay online widget. I'll be looking into solutions for this but I hadn't even thought about bigger pockets as a place to find out what people want and possible investors for the app.
    0Reply
  • JD MartinBusiness Member
    Moderator
    Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
    10y

    I use Cozy and Erentpayment. Some tenants like the auto draft feature of Cozy, others like to do the one time thing with Erentpayment. Cozy is cheaper - it's free on both sides; Erentpayment costs $3, which I have the tenant pay, because they have 2 ways of paying for free (Cozy and I will provide deposit slips for a local bank if they want to go that route). I don't accept payments in the mail. I have occasionally accepted a check if I was already at a house with a tenant for something unrelated and they asked if they can just give it to me at that time, but generally no - paying the bill is the tenant's responsibility, and I provide options that are hassle-free for both of us. 

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