Best System to Handle Long Distance Rent Collection?!?

[Ryan McCann]

I am sure there have been a few posts about this but I am moving out of state and need to implement a system to handle my monthly rent collection How do smart and savvy real estate investors collect rents from long-distance? Currently, my tenants either mail or drop off the rent each month. I don't want to risk it being lost or taking extra time in the mail now that I am moving away. Many of my tenants are old school and either pay in cash or with money orders each month I do not want to hire a property management company Suggestions please! Thank you so much

[Jimmy Murray]

You may be able to set up a system with your local bank.

Some local banks can set up an escrow account where your tenants can deposit rent. They will each have a unique card to identify them when they make the deposit and it will streamline the collection process for you.