Tenant Payements Options

[Salvatore Zappa]

Good afternoon bigger pockets members,

I recently purchased a duplex near Boston, MA. Due to my job I have to move down to Key West, FL. I currently pick up checks form the tenants now. They mentioned using Venmo, I have heard of cozy as well. I was wondering investors like yourself were using for long distance payments? What is a professional way that will be scalable when I buy more properties in the future.

Thank you, 

Salvatore

[Mark Mahoney]

@Salvatore Zappa You could have them deposit it into your bank account. Either open a seperate account for each tenant and just give them the account numbers. Or give them each a penny amount (so you know who paid). For example, the tenant on unit one pays $1700.01 and the tenant on unit two pays $1700.02. So that way you know which tenant paid. There are also a bunch of different property management software companies that could help out. I also do have a property management company if you need any assistance, please feel free to shoot me a direct message.