I'm considering self-managing my 3 rental properties, but unsure of the best way to take rental payments online. Any suggestions would be welcome. I'm basically looking for a site that I could direct my tenants to and they can use their debit card to pay rent.
Hey @Michael H. The software "Cozy" should be able to help you out here. I use it and I love it
My tenants get a QuickBooks invoice automatically sent to them every month that they can click and pay from. It's just an ACH transaction though. If I allowed credit/debit cards then I'm charged a fee and percentage. I think Cozy has a way to do it and have the tenant pay the fee. I also have a drop slot in my building for checks, and allow tenants to drop the payment off at the bank if they want. That way they can pay cash if they want to as well.
I agree with @Jake Stuttgen . Cozy is a good software and it is free. The ACH payment process is a little slow. It takes about a week after the tenant submits the payment before it is deposited into your account. You can pay a small fee to process the payment faster if needed. I believe there is a percentage fee for the tenant if they use a debit or credit card.
I have had my tenants pay rent by using Zelle, Cash App, and giving them my bank info to deposit in my account.
I’ve used cozy for some time now and really dig it. It also makes it easy to track expenses for each property.
I manage the 4 properties I own and would also recommend cozy
Cozy.co or TenantCloud or other online software will allow tenants to pay online. Search "pay rent online" in the search bar above or on Google and you'll find plenty of options.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing