Collecting Rent Online

[Ketan Pandya]

For your reference, I was going through this post. I started putting together a spreadsheet to perform a side by side comparison. However, this is over-whelmingly large number of service providers. Thought I should crowd source this one. Thank you in advance!

https://www.biggerpockets.com/rei/pay-rent-online-payment-tools/

[Kyle J.]

@Ketan Pandya There are a lot of ones on that list that I’ve never even heard of. I noticed the disclaimer at the top about them being affiliate links though, so perhaps the idea was to just list as many as possible? 

Anyway, you don’t mention what type/size portfolio you have, so I’ll just say - in general - that Cozy is very popular with landlords on this site. Like @John Warren, I also use it. It’s free and easy to use. I also like that it’s automated so once you and the tenant set it up initially, you don’t have to do anything each subsequent month. It just automatically transfers the rent from the tenant’s bank account to yours.

Lastly, one of the other names I recognized on that list was erentpayment. I’d caution you to do your research on that one as they had quite a few problems a while back. Here’s an example of just one of the posts here on BP about the issues with them: 

https://www.biggerpockets.com/forums/52/topics/499696-beware-of-fraud-by-erentpaymentcom