Different ways to collect Rent

[Adam Price]

Hello everyone I recently purchased four rental properties. I am looking for input on how everyone collects rent. I do have a local bank where tenants can deposit rent. I am aware of Venmo but I’m curious what everyone else are doing.

[Mike McCarthy]

As long as your tenant base has bank accounts and are internet capable, I’d always use Cozy, Apartments.com or Tenant Cloud type services. It’s all automatic for you and the tenant and free (other than maybe some upgrades).

If your tenant base deals in cash, then you’ll have to work with depositing at a local bank or one of those other solutions.