This is how we accept payments. It works flawlessly. We give this letter to all new tenants. Our local small town bank does not even charge us for the service.
In order to provide all our tenants with the best options to make delivering rent payments easier, we have partnered with our local bank to provide a system that will allow you, as the tenant, to choose the method easiest for you, as well as protect your handling of money and ensure a record of the transaction.
All rent payments are to be made directly to our account at Citizen’s State Bank. Rent is not to be paid through lockbox, personally to owners, or at our personal address. Tenants have four different convenient options to choose from:
1)Pay in person
a.Take your check or cash in person to the Citizen’s State Bank branch locations in Moundridge (201 S. Christian Ave.) or Hesston (201 N. Main St.).
b.Inform teller that you are making your rent payment to Carpenter Rentals, Inc. You will need to tell them your name as well as your residency address.
c.They will record your rent payment on a deposit slip and give you a receipt for your records.
2)Mail your payment
a.All Mailed payments must be made to the Moundridge branch. Mail your payment (please no cash via mail) to: Citizen’s State Bank
PO Box 110
Moundridge, KS 67107
b.Place a note inside your envelope with the instructions that the payment is for rent due to Carpenter Rentals, Inc. along with your name and residency address clearly noted.
3)Night Drop Box
a.Both Moundridge and Hesston branch locations make it convenient for you to make payments after hours if you are not able to make it to a branch during regular business hours.
b.Place a note inside your envelope with the instructions that the payment is for rent due to Carpenter Rentals, Inc. along with your name and residency address clearly noted.
4)For tenants who currently hold accounts at Citizen’s State Bank you may make a transfer over the phone.
a.Call the Moundridge branch at xxx-xxx-xxxx.
b.Let them know your personal account number and then let them know that you are making your rent payment to Carpenter Rentals, Inc. You will need to tell them your name as well as your residency address.
This system is in place to protect you when handling money as well as to give you more convenient options to make your payments. Rent is due on the 1st of each month. Rent payments will be monitored by online banking and any payments made after the 5th of the month will incur a $25.00 late fee. Any checks returned due to insufficient funds will incur a $30.00 fee.
This is how we accept payments. It works flawlessly. We give this letter to all new tenants. Our local small town bank does not even charge us for the service.
In order to provide all our tenants with the best options to make delivering rent payments easier, we have partnered with our local bank to provide a system that will allow you, as the tenant, to choose the method easiest for you, as well as protect your handling of money and ensure a record of the transaction.
All rent payments are to be made directly to our account at Citizen’s State Bank. Rent is not to be paid through lockbox, personally to owners, or at our personal address. Tenants have four different convenient options to choose from:
1)Pay in person
a.Take your check or cash in person to the Citizen’s State Bank branch locations in Moundridge (201 S. Christian Ave.) or Hesston (201 N. Main St.).
b.Inform teller that you are making your rent payment to Carpenter Rentals, Inc. You will need to tell them your name as well as your residency address.
c.They will record your rent payment on a deposit slip and give you a receipt for your records.
2)Mail your payment
a.All Mailed payments must be made to the Moundridge branch. Mail your payment (please no cash via mail) to: Citizen’s State Bank
PO Box 110
Moundridge, KS 67107
b.Place a note inside your envelope with the instructions that the payment is for rent due to Carpenter Rentals, Inc. along with your name and residency address clearly noted.
3)Night Drop Box
a.Both Moundridge and Hesston branch locations make it convenient for you to make payments after hours if you are not able to make it to a branch during regular business hours.
b.Place a note inside your envelope with the instructions that the payment is for rent due to Carpenter Rentals, Inc. along with your name and residency address clearly noted.
4)For tenants who currently hold accounts at Citizen’s State Bank you may make a transfer over the phone.
a.Call the Moundridge branch at xxx-xxx-xxxx.
b.Let them know your personal account number and then let them know that you are making your rent payment to Carpenter Rentals, Inc. You will need to tell them your name as well as your residency address.
This system is in place to protect you when handling money as well as to give you more convenient options to make your payments. Rent is due on the 1st of each month. Rent payments will be monitored by online banking and any payments made after the 5th of the month will incur a $25.00 late fee. Any checks returned due to insufficient funds will incur a $30.00 fee.
I'm interested in online (or retail store) payment options. However, one company I saw offering this service charged 2.7% of the rents paid. That is more than I would be willing to pay. I would choose mail over that. I'd be interested to hear of lower cost options.
Plenty of options, my tenants all provide me with post dated checks for the year. However you choose tenants are responsible for insuring their landlord receives payment on time.
Landlords should never "pick up payment" from tenants. That is a waste of time and not a landlords responsibility. This is inappropriately catering to tenants. Defiantly the wrong message and not good training. Once a landlord begins this service any time they can not pick up the payment the tenants is not responsible for paying. Tenants can easily avoid paying by simply not being available when the landlord shows up at the door. The tenant can not be held responsible for late payment since the landlord has made it their responsibility to pick up the rent in person.
Picking up rent payments is a very poor business practice.
@Yvette M. have you had any issues with erentpayment?? seems like a decent deal.
@Eric James the one yvette mentioned is 3 per transaction or if you have too many you can do a $10 a month deal for 5 transactions and $1 per additional one
Picking up rent is not my preferred method, but it allows me chat up the tenant and get inside info on what's happening in the neighborhood. I find that my foreign language tenants like to pay by cash and they ALWAYS pay three to four days in advance.
@Nikolas FerreiraI don't have any problems with erentpayment. The tenant pays the transaction fee. I would, however, like the late fee to go into a separate account, but if the system will do that I haven't figured it out yet. I formerly used another on-line system, and the tenant paid $1 per transaction, but I was paying $20 per month for the account. That system had a tenant portal, accounting features, etc -- it was more robust than my needs.
Erent also sends out email reminders for rent due dates.
Most of my tenants (5 units: 3 houses, 2 apts) pay in person by dropping off a check. But I've had a couple who have paid online through cozy.co, which we use for tenant applications/screening. Works just fine, though the money takes a while to "settle"/land in the account. I think it's free for the tenants if they link it to their checking account or costs them something if they use a credit card. It's free to me either way.
PopMoney.com is free if you can tolerate a 3-day delay from the tenant payment until it is posted to your account. You can setup email or TXT confirmation too.
I used this service for Y E A Rs w/o problems for me or my tenants.
Reviews like these are much like what we find on YELP - - all the complainers. We can not assess the complainers integrity or even determine if they have been PAID for their comments.
I have a history here on BP and anyone can evaluate what I've presented.
this one is really a no brainer: NEVER collect in person, as it's a waste of time and invites trivial complaints and discussions from the tenant. we use erentpayment.com for all rentals and it's worked great. easy to set up and for tenants to use. and, it sends them reminder emails a few days before rent is due....
@Rick S. my tenant says she signed up online already and is set to start using the software. but i dont see anything on my dashboard is that normal or should i be able to see something there related to my tenant and property?
I have a mixed bag. New tenants coming in are put on cozy.co (free). One inherited did the transition. I receive checks/money orders from the others, mailed to my UPS box.
When I got into the game I was advised to get a UPS box so things wouldn't go to my home. When removing a very troublesome inherited tenant he called my home number, I am sure just to let me know he knew it and where I lived. So that got me thinking what a waste of money the UPS box is in this day and age!
I may set up a drop box in the basement for checks and MO (no cash.) And send out an addendum to the lease that any important correspondence are to be sent certified to my home address. I am very hands on, only a couple miles from my buildings and I am always there- so it actually would make things easier on me.
The time delay on cozy does not affect me- In fact I prefer it to a fruitless stop at the UPS store- I know when the rent is paid, even if it is a couple days before it is in my account.
@Rick S. my tenant says she signed up online already and is set to start using the software. but i dont see anything on my dashboard is that normal or should i be able to see something there related to my tenant and property?
Hi Nikolas, I am sending you an email now with more information. Thanks!
I use cozy.co. Tenants can apply, I can screen tenants, (Tenant pays) collect the deposit & rents, add a late fee if necessary, & reimburse tenants for any expenses. All for free
It's 2017. Accept rent online and push tenants to pay that way. Use a PM software that's integrated with the payment so you don't even have to post to ledgers.
We have moved alot of our tenants to online payments and phone payments. We dont give any account numbers to tenants to deposit checks do to fraud issues that are prevalent in florida. If they want to pay cash they can pay using the retail payment outlets.
1. We show them the online portal and help them set up their checking account online or credit card information.
2. They can pay anytime they want and cant give excuses about checks being in the mail.
3. For older people after they set up the online account with us they can call in and make payments over the phone.
4. Its a faster turn around time to verify bounced or returned funds. (some backs wait 2 weeks till they return a check , direct debits is only 3 days)
5. It reduced our fraudulent checks and money order issues.
6.We also take security deposits this way.
Alot of online softwares now offer this service and it is some time easier for tenants to do then putting a check in the mail or running to the bank.
This is how we accept payments....a.Take your check or cash in person to the Citizen’s State Bank branch locations in Moundridge (201 S. Christian Ave.) or Hesston (201 N. Main St.)...Moundridge branch. Mail your payment (please no cash via mail) to: Citizen’s State Bank..PO Box 110 Moundridge, KS 67107...
Quite a bit of somewhat sensitive personal/business information Michael. At least you didn't go as far as posting your bank account number online.