Rental Payment Experience: Lower Income Rental

[Michael Glaser]

I'm in the process of acquiring 4 SFH in the Kansas City area. I've reached out to a PayNearMe representative, whom I'm talking with currently. The seller would either collect the rent or have them mail it for all of his rentals. I'm trying to make things easier for me and the tenant by getting everyone signed up with PayNearMe at a local 7-11, which sits about 5-10min drive from each rental.

Is it realistic to think I could get 4 tenants who each pay between $700-$800 a month to do this service? Is it something I can put in the lease with a second bank deposit option? I'd like to keep things as digital as possible.

Before I spend too much time going after PayNearMe to be a vendor of mine I'd love to hear some stories of its success with lower income tenants.

Thank you in advance,

Michael

[Cole Sims]

I've been using Cozy for online payments for the last year. They can schedule monthly payments and there isn't any cost to the landlord. I have been very happy with it.