Collecting rent, what's the best way?

Question

Hello all,

I just wanted to ask what's the best way to collect rent each month, we are using rent redi. They are going to charge us 115 a year. I just wanted to see if there was a better company or to see if I'm on the right track.

Thank you so much for your time.

Mose Gebremeskel · Answer

I'm looking to use Innago since they're free.

Twannisha Jackson · Answer

money orders or direct deposit to the bank.

Andrew Carlson · Answer

@Glen Wiley

I think they start charging at 6 units.

Andrew Carlson · Answer

@Glen Wiley

Apartments.com is trying to sign me up for $120/month. Far from free.

Alecia Loveless · Answer

@Joseph D Chapman I use Venmo, CashApp, Facebook pay. I tried switching to a landlord App but my tenants freaked out saying they had never heard of it and didn’t trust it and said they wanted to stay with the Apps they knew and trusted. So for now I agreed to stay with what we’ve been using.

In my area  I don’t think I will have a problem with my tenants sending partial payments to stop the eviction process if it ever comes to that or doing a charge back to try to get their rent back for several months. I could be wrong and someone will likely eventually surprise me but it’s more likely my tenants will just stop paying. I could see this being a problem in other areas however.

David M. · Answer

@Joseph D Chapman

Zelle works great.  Its free.  It built into just about every bank / banking system.  It's immediate.  Its in your bank account.  It tells you who sent it.

The only thing that is potentially troublesome with these systems, I thought, is you aren't able to not accept funds.  I was told cashapp has an approval step to receive funds.  Could/would be useful in an eviction situation.

Good luck.

Collecting rent, what's the best way?

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