Switching to Tenant Depositing Rent
Hello. Needing help on how to notify tenants of a change in policy. I have 2 active rentals and rehabbing my 3rd so I'm still pretty small time. With that said, I do intend to scale up while managing the properties myself. (As long as it's feasible) I no longer plan to collect rent in person. SCHEDULING! Whew! I just opened an account separate from all other accounts and plan to have the tenants deposit directly to that account.
So... question: How do I notify my tenants of this change? Letter? Email? In person? I'm thinking a letter would be best so I can include the account number, banking locations, and hours of operation. Any help is appreciated. A sample letter or similar is GREATLY appreciated!
Thanks in advance.
Most Popular Reply
Letter is sufficient. I had to remind mine for about 8 months that I will not accept money in person, but that was a simple conversation.