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Updated about 7 years ago on . Most recent reply

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39
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8
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Felipe Carrillo
  • Spring, TX
8
Votes |
39
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Rent payment method for tenants

Felipe Carrillo
  • Spring, TX
Posted

Hey BPers,

Looking to get my first rental property rented out and I'm wondering what's a good system to offer to allow tenants to pay rent. I've heard that this could get tricky because if the tenant doesn't pay on time and then you take him/her to court, they could make a partial payment of the rent (say through an electronic transfer if an online method is offered to pay rent) before the court hearing and say that they paid rent. 

Any recommendations from experience would be greatly appreciated.

Thanks!  

Most Popular Reply

User Stats

184
Posts
100
Votes
Deborah Pyburn
  • Real Estate Agent
  • Smyrna, GA
100
Votes |
184
Posts
Deborah Pyburn
  • Real Estate Agent
  • Smyrna, GA
Replied

@Felipe Carrillo I HIGHLY recommend against accepting any time of partial payment whether cash or ACH. Landlords I know use ClearNow. It automatically pulls the money from the tenant's account on the 5th of the month. Tenants enjoy it because they have a few extra days to gather funds if they're short and landlords either get the full amount or the transaction is declined then you would follow up via your lease regarding non/late payment.

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