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Updated over 6 years ago on . Most recent reply

User Stats

9
Posts
12
Votes
Chris LeMay
  • Woodbury, MN
12
Votes |
9
Posts

Should we accept Electronic Funds for Rent?

Chris LeMay
  • Woodbury, MN
Posted

Just bought our first property and have signed a lease with tenants.  We are offering rental payment by electronic means (Zelle, Venmo, CashApp etc.).  However, we have just read a few articles that say allowing electronic payments is not a good idea due to the fact that partial payments are automatically accepted by these apps.  I am not sure if I need to be overly concerned with this or not?  Would appreciate some feedback from Landlords that use electronic payment and whether this is an acceptable risk to take.  Thanks!

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