Third party service that collects rent in cash

8 Replies

I've seen some old posts on Paynearme and PayLease, but I can't find anything recent and definitive.  I think Paynearme has stopped enrolling landlords.  And I am not sure about PayLease.  I filled out their web form and hope for a reply.  

One of the two properties that I'm purchasing has a tenant who pays her rent in cash at the property manager's office.  I will not be using a property manager for this property, so I'm looking for alternatives to picking up the cash in person.  I may be able to get her on bank draft or some other method.  But if that is problematic, I'm trying to have a backup plan.

Derek,

Those companies don’t “pick up” cash from
Your tenants, but so allow them to pay cash at their facilities. If they can’t or won’t pay online, maybe they could go to amascot or go and deposit into your account

Originally posted by @Kim Meredith Hampton :

Derek,

Those companies don’t “pick up” cash from
Your tenants, but so allow them to pay cash at their facilities. If they can’t or won’t pay online, maybe they could go to amascot or go and deposit into your account

Yes.  Sorry that I wasn't clear.  I am looking for something like that where they can walk in and pay at a store (in South Carolina).  In our area, as an example, Duke Energy has a deal where people can pay their power bills in gas stations, hardware stores, etc.  I'm looking for something like that.  And I appreciate the tip about Amscot.  I had to Google it.  It looks unique to Florida, but that's the general line of thinking.  I could take Western Union, but then I'd have to go get it at the story myself.  I did something like that just once when one of my tenants had a bank issue.  It's weird to be in the grocery store collecting $1450 in small bills.

I use buildium property managment software. They told me they are doing a slow roll-out of paynearme to buildium clients now. I got on the wait list. 

Around here my bank will accept payment . If there’s one near by the tenant stops in and tells the teller my name and they look it up and deposit the rents into my business account. Sadly I still collect cash money in person from them because they are immigrants they barely speak English and have no car or checking accounts or practical way to pay at some of these new depot spots everyone raves about . Someday I’ll find a better method

We have some tenants who deposit directly into our bank account. This does have some limitations in that cannot stop them from doing partial payments, which could be a problem if they are facing eviction, etc— but if this is an issue then I guess can just return the money to them without jeopardizing your eviction time frame etc, as long as you have clearly said that no partial payments accepted.

We just give them our bank acct number and they fill out deposit slip at the closest Bank of America. We have them shot us a text when they make the deposit.

As for security of your account number...EVERYBODY that you’ve ever given a check to has the account number.

PayNearMe lets your tenant use 7-11 stores to pay rent

Actually, apparently even more:  from their site: 

"PayNearMe lets property managers and owners collect cash rent payments 24/7 at local stores that include 7-Eleven, ACE Cash Express, CVS Pharmacy and more. PayNearMe cash payments are 100% guaranteed good funds and are directly deposited into your bank account, which means no hassle or fraud for you to deal with."