Why You Should Set Up Recurring Rent Payments to Increase Income

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  • Curt Smith
    Rental Property Investor · Clarkston, GA · Member since 2012 · 2k+ posts · 1k+ votes
    4y

    Yes agree all good points for sure. In my experience and tools I have used, setting up autopay is on the tenant side. AND it needs to be on the tenant side. IE I can't not control a so called move to autopay.

    The tenant may not have guaranteed bank balance at the time of auto withdraw (ACH) so they don't want NSF fees. Some portion will always be manual payers. The tool I use supports tenants setting up autopay and about 1/2 to a bit more then half are on autopay. Their income is high enough and dependable they are confident they will have the min balance to pay rent every mo so they are successful on autopay.

    IMHO Its not something (autopay) the landlord can control. The flip side; if you use a tool that forces autopay you WILL have NSFs every mo. Just a reality of the tenant side for a percent of tenants. IE they get paid on the 5th. LOL yes my white collar job at a fortune 50 I was paid on the 5th and 21st. Geeze thats not convenient!!! Just a reality.

    Best to all, curt

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  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    4y

    The more you can automate, the better your life will be.

    The DIY Landlord Book4.7243 Reviews
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