Investor · Marietta, GA · Member since 2018 · 18 posts · 23 votes
I'm old school and so are most of my tenants in 5 of my 6 properties but I want to start moving towards the future and quit walking to the mailbox. What are the modern ways to accept rent payments? Send tenants reminders of rent due? Send statements of late rent?
What else is possible in paving the way for future tenants and setting them up day one with these above features?
Investor · Boise, ID · Member since 2014 · 3k+ posts · 3k+ votes
8y
We use Cozy.co and have for a few years. It's free and has been seamless for us. Since we've started using it, I have not had to knock on a single door for rent or argue over a late payment. It has been a game changer for us.
Apartment Syndicator · Charleston, SC · Member since 2016 · 973 posts · 728 votes
8y
John D. There are a lot of PM software systems that allow you to bill and collect rent online. Appfolio is one and buildum is another but there are several out there. Depending on how you currently manage and if you are growing the business you need to determine if getting a software system is right.
Another option to collect rent without going to the mailbox is have tenants pay using PayPal or venmo. Good luck
Investor · Boise, ID · Member since 2014 · 3k+ posts · 3k+ votes
8y
We use Cozy.co and have for a few years. It's free and has been seamless for us. Since we've started using it, I have not had to knock on a single door for rent or argue over a late payment. It has been a game changer for us.
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
8y
I have never collected rent. Mainly have tenants deposit rent directly into my bank account. After all no matter how you accept it, that's were you want it to end up. The tenant gets a receipt. Any bank teller at my bank accepts my rent with no fees.
I have also started accepting Zelle. This is supported by the major banks and has no fees.
Investor · Marietta, GA · Member since 2018 · 18 posts · 23 votes
8y
This gets me going in the right direction. All of these solutions answer my needs and provide solutions for problems I didn't know I had yet. We're looking to pick up a few properties around certain Georgia universities and focus on student housing. The apartment industry is robbing these kids and we think we can do better by offering single family condos at a better price with a focus on converting them to long-term tenants. So being modern in our approach to tenant management and communication will be an upsell. I greatly appreciate your responses and time gentlemen.