Any rent collecting softwares that accept zelle
Member since 2022 · 38 posts · 9 votes
Any rent collecting softwares that accept zelle
Most Popular Reply
Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
3yQuote from @Harita Konjeti:
Most of my tenants pay by zelle. Are there any softwares that I can use to collect rent online. Any recommendations ?
Software is a common question on BiggerPockets. Here are some things to consider:
- Most investors don't need software until they have 5-10 rentals. All you need is a single place to track tenant information, payment history, maintenance, and a few other things. You can easily do this on a spreadsheet and it will take less time to track than it would to find and learn a new software. If the software is not simplifying your life or making you more accurate, you shouldn't use it.
- Software does have extremely helpful features like online payments, marketing syndication (click a button and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports. But do you really need that for your one rental?
- There's no perfect software out there. Every system you try will have flaws or you'll salivate over a feature that shows up in other software.
Some common names you'll see thrown around a lot: Stessa, Apartments.com, RentRedi, TenantCloud, Innago, RentManager, Avail, Rentec Direct, Doorloop, etc.
I recommend you search for each of those apps online and see what they offer, how much they charge, etc. Make a simple spreadsheet or written list with the features of each and see which ones appeal to you most. Try to narrow it down to your top 3-4. Once you have a short list, get an account with each one and run them through the wringer to see how they really function. Do one task at a time in each app so you can compare apples to apples.
- Load a property with pictures and details.
- Market that property.
- See what your marketing looks like from the public's perspective.
- Submit a fake application to see how easy the process is.
- Run a credit/screening report on yourself.
- Enter a maintenance request, assign a vendor, attach a fake invoice.
- Enter charges to the tenant's ledger.
- Enter recurring charges and automatic late fees.
- Sign documents electronically.
- Run owner reports.
After testing a few apps, one of them should stand out for you. Choose that one and use it. No system is perfect, so don't waste your time chasing after the next shiny object. You should only have to change when your current software has a flaw or lacking feature that is causing you to spend too much work on a work-around. Then you can consider researching and finding something that meets your needs better.
The DIY Landlord Book4.7248 Reviews
16 Replies
- Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes3y
Quote from @Harita Konjeti:
Most of my tenants pay by zelle. Are there any softwares that I can use to collect rent online. Any recommendations ?
Software is a common question on BiggerPockets. Here are some things to consider:
- Most investors don't need software until they have 5-10 rentals. All you need is a single place to track tenant information, payment history, maintenance, and a few other things. You can easily do this on a spreadsheet and it will take less time to track than it would to find and learn a new software. If the software is not simplifying your life or making you more accurate, you shouldn't use it.
- Software does have extremely helpful features like online payments, marketing syndication (click a button and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports. But do you really need that for your one rental?
- There's no perfect software out there. Every system you try will have flaws or you'll salivate over a feature that shows up in other software.
Some common names you'll see thrown around a lot: Stessa, Apartments.com, RentRedi, TenantCloud, Innago, RentManager, Avail, Rentec Direct, Doorloop, etc.
I recommend you search for each of those apps online and see what they offer, how much they charge, etc. Make a simple spreadsheet or written list with the features of each and see which ones appeal to you most. Try to narrow it down to your top 3-4. Once you have a short list, get an account with each one and run them through the wringer to see how they really function. Do one task at a time in each app so you can compare apples to apples.
- Load a property with pictures and details.
- Market that property.
- See what your marketing looks like from the public's perspective.
- Submit a fake application to see how easy the process is.
- Run a credit/screening report on yourself.
- Enter a maintenance request, assign a vendor, attach a fake invoice.
- Enter charges to the tenant's ledger.
- Enter recurring charges and automatic late fees.
- Sign documents electronically.
- Run owner reports.
After testing a few apps, one of them should stand out for you. Choose that one and use it. No system is perfect, so don't waste your time chasing after the next shiny object. You should only have to change when your current software has a flaw or lacking feature that is causing you to spend too much work on a work-around. Then you can consider researching and finding something that meets your needs better.
The DIY Landlord Book4.7248 Reviews - Member since 2022 · 38 posts · 9 votes3y
I am looking for a software with below -
1. Accept payments through zelle
2. Send automated email remainders and late rate
3. Report to credit companies if rent is not collected
4. Is affordable
- Member since 2021 · 40 posts · 27 votes3y
Quote from @Harita Konjeti:
I am looking for a software with below -
1. Accept payments through zelle
2. Send automated email remainders and late rate
3. Report to credit companies if rent is not collected
4. Is affordable
Hi Harita,
I don't know of any programs that are integrated with Zelle. Early Warning runs Zelle and I don't believe they offer integrations. You would need to use rental payment software to collect payments through ACH. For the payments you collect through Zelle, make sure the software offers a way to record "offline" payments not processed through the software.
I am reviewing Azibo for accounting but I know it offers payment processing and payment tracking as well. Good luck!
- Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes3y
Quote from @Harita Konjeti:
Most of my tenants pay by zelle. Are there any softwares that I can use to collect rent online. Any recommendations ?
NO, They would send there then you have to transfer. Just use Builium,
- Rental Property Investor · Boston, MA · Member since 2019 · 2k+ posts · 1k+ votes3y
How many properties/tenants do you have? Why do you need a software?
- Investor · Las Vegas, NV · Member since 2013 · 8k+ posts · 10k+ votes3y
You definitely don’t need anything more than quicken for the first 20-30 properties. If you insist on using Zelle. (Setting up automated ACH would be 100 times better). Then just have them zelle to your bank account and quicken will download and enter them. It’s $50/year and pretty much overkill.
- 3yVicki X.Pro MemberInvestor · Member since 2022 · 186 posts · 155 votes
Quote from @Harita Konjeti:
I am looking for a software with below -
1. Accept payments through zelle
2. Send automated email remainders and late rate
3. Report to credit companies if rent is not collected
4. Is affordable
Hello Harita, I'm from azibo (in the process of getting my Premium membership). Thanks for the checklist and we almost check all the boxes, with a caveat for #3. The credit reports we send to the credit bureaus are those paid on time, which help build the renters' credit scores. Would love to connect to understand your needs and concerns better.
- 3yVicki X.Pro MemberInvestor · Member since 2022 · 186 posts · 155 votes
Quote from @Nathan Gesner:
Quote from @Harita Konjeti:
Most of my tenants pay by zelle. Are there any softwares that I can use to collect rent online. Any recommendations ?
Software is a common question on BiggerPockets. Here are some things to consider:
- Most investors don't need software until they have 5-10 rentals. All you need is a single place to track tenant information, payment history, maintenance, and a few other things. You can easily do this on a spreadsheet and it will take less time to track than it would to find and learn a new software. If the software is not simplifying your life or making you more accurate, you shouldn't use it.
- Software does have extremely helpful features like online payments, marketing syndication (click a button and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports. But do you really need that for your one rental?
- There's no perfect software out there. Every system you try will have flaws or you'll salivate over a feature that shows up in other software.
Some common names you'll see thrown around a lot: Stessa, Apartments.com, RentRedi, TenantCloud, Innago, RentManager, Avail, Rentec Direct, Doorloop, etc.
I recommend you search for each of those apps online and see what they offer, how much they charge, etc. Make a simple spreadsheet or written list with the features of each and see which ones appeal to you most. Try to narrow it down to your top 3-4. Once you have a short list, get an account with each one and run them through the wringer to see how they really function. Do one task at a time in each app so you can compare apples to apples.
- Load a property with pictures and details.
- Market that property.
- See what your marketing looks like from the public's perspective.
- Submit a fake application to see how easy the process is.
- Run a credit/screening report on yourself.
- Enter a maintenance request, assign a vendor, attach a fake invoice.
- Enter charges to the tenant's ledger.
- Enter recurring charges and automatic late fees.
- Sign documents electronically.
- Run owner reports.
After testing a few apps, one of them should stand out for you. Choose that one and use it. No system is perfect, so don't waste your time chasing after the next shiny object. You should only have to change when your current software has a flaw or lacking feature that is causing you to spend too much work on a work-around. Then you can consider researching and finding something that meets your needs better.
Hello Nathan,
Appreciate your insights and knowledge, and your advice of testing different solutions. I can't agree more with you that "no software is perfect". But I think differently about the comparison between spreadsheets and software for small investors. Would love to chat and show you what azibo is capable of today. Will request to connect.
- Investor · Los Angeles, CA · Member since 2023 · 10 posts · 3 votes3y
Hey Harita! Currently Zelle is standalone. But they’re working with a software company right now to develop a solution for tenants to pay rent through. Here’s the link on this:
Hope this helps! - Member since 2022 · 38 posts · 9 votes3y
Quote from @Vicki X.:
Quote from @Harita Konjeti:
I am looking for a software with below -
1. Accept payments through zelle
2. Send automated email remainders and late rate
3. Report to credit companies if rent is not collected
4. Is affordable
Hello Harita, I'm from azibo (in the process of getting my Premium membership). Thanks for the checklist and we almost check all the boxes, with a caveat for #3. The credit reports we send to the credit bureaus are those paid on time, which help build the renters' credit scores. Would love to connect to understand your needs and concerns better.
I spoke to someone from Azibo, what is the point if it is not reported when tenants don't pay in time.
- 3yVicki X.Pro MemberInvestor · Member since 2022 · 186 posts · 155 votes
Quote from @Harita Konjeti:
Quote from @Vicki X.:
Quote from @Harita Konjeti:
I am looking for a software with below -
1. Accept payments through zelle
2. Send automated email remainders and late rate
3. Report to credit companies if rent is not collected
4. Is affordable
Hello Harita, I'm from azibo (in the process of getting my Premium membership). Thanks for the checklist and we almost check all the boxes, with a caveat for #3. The credit reports we send to the credit bureaus are those paid on time, which help build the renters' credit scores. Would love to connect to understand your needs and concerns better.
I spoke to someone from Azibo, what is the point if it is not reported when tenants don't pay in time.
Very valuable feedback for us, so thank you! We are checking and will get back to you soon.
- Member since 2022 · 38 posts · 9 votes3y
Quote from @Account Closed:
Hey Harita! Currently Zelle is standalone. But they’re working with a software company right now to develop a solution for tenants to pay rent through. Here’s the link on this:
Hope this helps!They don't report to credit companies either.
- 3yVicki X.Pro MemberInvestor · Member since 2022 · 186 posts · 155 votes
Quote from @Harita Konjeti:
Quote from @Account Closed:
Hey Harita! Currently Zelle is standalone. But they’re working with a software company right now to develop a solution for tenants to pay rent through. Here’s the link on this:
Hope this helps!They don't report to credit companies either.
Hi Harita, I hope the following information would be helpful for you.
Azibo's offering, as other rent reporting solutions in the market, focuses on encouraging renters to pay on time to improve their credits. The flip side of reporting delinquent payments isn't common and won't be as effective as it sounds because the credit bureaus thinks a payment is not late unless it is over 30 days late. Most tenants won't pay that late, and when some do, the landlords are usually already working on an eviction.
In case your comments about "not reporting to credit companies" was related to Azibo, we do report all relevant info to the right parties. Happy to chat more to clarify! - Member since 2021 · 40 posts · 27 votes3y
Quote from @Harita Konjeti:
Quote from @Vicki X.:
Quote from @Harita Konjeti:
I am looking for a software with below -
1. Accept payments through zelle
2. Send automated email remainders and late rate
3. Report to credit companies if rent is not collected
4. Is affordable
Hello Harita, I'm from azibo (in the process of getting my Premium membership). Thanks for the checklist and we almost check all the boxes, with a caveat for #3. The credit reports we send to the credit bureaus are those paid on time, which help build the renters' credit scores. Would love to connect to understand your needs and concerns better.
I spoke to someone from Azibo, what is the point if it is not reported when tenants don't pay in time.
Hi Harita,
The credit bureaus do not consider a payment to be late unless it is over 30 days late. Most reporting companies focus on encouraging on-time payments for the tenants that pay through the service.
Most of the reporting companies are not involved with collection/delinquent reporting. If you need that service, I would recommend a service like www.rentrecoveryservice.com to report a delinquent account. Hopefully, you don't encounter the situation and you can find a rent payment company to handle your regular monthly payments. Thanks! - New to Real Estate · NY · Member since 2015 · 119 posts · 36 votes2y
Can someone confirm my understanding of using Stessa and what I plan on doing.
I plan on using Stessa to manage my 1st property, I know most of you said it's not needed, but it's free and keeps everything simple for me. It is making me sign up for their banking account in order to send my tenant the ability to make payments through their site.
But what I think I am realizing is that I can have my tenant make payment through Zelle which is connected to my Chase Business Account. I then have my Chase Business Account linked to Stessa so it will import the payments and still run all the features that I like (Tracking Rental Income, P/L statements, Tax form simple print outs) because it will sync with my Chase Business account.
Would love some advice from previous owners and users of Stessa.
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