Different Means of Collecting Rent
I am a landlord who is trying to grow my rental portfolio. In the past, we sent each tenant a deposit ticket and had them go to a Bank of America branch to make their rent deposit. We did this because it was great for bookkeeping and it didn't cost us any fees. We have recently acquired 8 more rentals are now having second thoughts about sending our bank account information to all these people. While we only keep $25 in that account, and we transfer the money out immediately after it's deposited, does anyone have any other suggestions on ways to collect rent that have low fees associated? If there are fees associated, how do you pass that on to your tenants?