Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 7 years ago on . Most recent reply

User Stats

42
Posts
27
Votes
John Hagen
  • Mattoon, IL
27
Votes |
42
Posts

Partners disagree on how to accept rent, 2-2 split

John Hagen
  • Mattoon, IL
Posted

We are having a minor partner conversation, not a fight at all but maybe there is room for improvement and I’d like to hear what you all recommend. Of our 5 partners we have a 2-2 split and a 5th sitting this out. A husband and wife team is split. We all want what is best for the business.
 
Our current lease requires that all rents must be paid on our website or our app. We will not accept any payments in person or by mail, however auto withdraw is an option. We have 2 new tenants who do not seem mentally capable of paying online. One of my partners says it seems unproductive to evict someone for not being “computer savvy”. My argument is they had to fill out an online application and set up and account on our website to get the apartment and if they can’t figure this out how can they hold down a job to pay rent. I also worry if we make exception to our lease then we open ourselves up to legal issues enforcing other parts of the lease. There is also the concern with a partnership and taking taking cash, I don’t think any of my partners would steal but we worry that a tenant will claim they paid cash to one of us and that’s a fight we don’t want.

When our tenant move in we give them a sheet that tells them how to pay rent, it says :

Go to website “www.blahblah.”

Click on “Pay Rent Online” and sign in

Click on payment tab
Pick payment type ACH (eCheck) or Credit Card

Make payment


I believe I’m right and my partners are poopyheads but we can always improve. Does anyone have experience here, have things they tried or any suggestions.

Loading replies...