Updated almost 5 years ago on . Most recent reply
A Landlord's Insight...
From your own experience, what is the MOST EFFECTIVE and CONVENIENT way to collect rent from your tenants? How did you learn this?? GO!!
Most Popular Reply
#3 Investor Mindset Contributor
- Handyman
- Pittsburgh, PA
Most effective doesn't go together with convenient. For me, most effective is me banging on the tenant's door. Most convenient is probably Zelle.
My favorite, though, is old-timey cash in hand, used small bills that have been sweated and sinned over. I fold the wad the tenant gives me over my finger and count it out loud in front of the tenant, "Ten, twenty, thirty, yeah, yeah, bring it, seventy, oh mamma, ninety..." If the count's right, I write and sign a grimy, smeared receipt out of the receipt book that I carry around with me everywhere. I slip the wad into my pocket. I like to carry my rent wad around and bring it out to smell it maybe once an hour.
It's the little things that make life worth living.