Distributing Rent Payments to Owners

Managing Your Property
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Distributing Rent Payments to Owners

Josh Otero
Property Manager · Los Angeles, CA · Member since 2024 · 39 posts · 16 votes

Hi, my name is Josh and I’m a property manager. I’m growing quite quickly and I have run into certain (good) problems. I started to receive money through Zelle, but hit a limit. Many tenants mail a check each month or pay through RentRedi.


However, the problem is the distribution. Upon receiving the monthly rent, I can’t just Zelle the property owners $10k plus because of the limit. Yes, I can write a bunch of checks but I want to know if there are any better ways to send payments online. 

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Sam Golden
Member since 2023 · 4 posts · 2 votes
1y

I use Buildium and it has the option to receive online payments from tenants and also has the function to pay owners online!  If you're growing you might want to invest in the pm software platform.  I chose the $49 per month plan and it works for me!

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  • Jaycee GreenePro Member
    Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 727 votes
    1y
    Quote from @Josh Otero:

    Hi, my name is Josh and I’m a property manager. I’m growing quite quickly and I have run into certain (good) problems. I started to receive money through Zelle, but hit a limit. Many tenants mail a check each month or pay through RentRedi.


    However, the problem is the distribution. Upon receiving the monthly rent, I can’t just Zelle the property owners $10k plus because of the limit. Yes, I can write a bunch of checks but I want to know if there are any better ways to send payments online. 

    Hey @Josh Otero. Can you setup ACH transfers through your bank? 

    [email protected]
    0Reply
  • Keith Jablonowski
    Property Manager · Lombard, IL · Member since 2013 · 100 posts · 82 votes
    1y

    NACHA is the best option if you have a PM software that supports it.    You can output a file of all payments from your software and upload to your bank.  It's faster, done all in one and cheaper than ACH.  Worth looking into. 

    2Reply
    • Josh Otero
      OP
      Property Manager · Los Angeles, CA · Member since 2024 · 39 posts · 16 votes
      1y
      Quote from @Keith Jablonowski:

      NACHA is the best option if you have a PM software that supports it.    You can output a file of all payments from your software and upload to your bank.  It's faster, done all in one and cheaper than ACH.  Worth looking into. 


       Will definitely take a look thank you

      0Reply
  • Michael SmytheBusiness Member
    Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
    1y

    What bank are you using?

    Most allow you to setup owners/vendors for ACH payments.

    How many doors are you managing?
    Rent Redi is really made for DIY landlords, not PMCs.

    You may want to look into Buildium or similar, that would allow you to enter the ACH info in the software and more easily pay.

    Logical Property Management4.9454 Reviews
    WebsiteView Page
    1Reply
  • Peter MckernanBusiness Member
    Residential Real Estate Agent · Irvine, CA · Member since 2013 · 2k+ posts · 1k+ votes
    1y

    I agree with everyone below, you can have banks setup ACH or you can use a PM software service that gets stuff in and then send out payment via ACH

    The McKernan Group4.957 Reviews
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    0Reply
  • Adam BartomeoBusiness Member
    Real Estate Broker · Cape Coral, FL · Member since 2015 · 2k+ posts · 1k+ votes
    1y

    Before we were large enough to use Appfolio we set up ACH with Wells Fargo. There is a monthly charge an a charge per transaction but they are minimal.

    [email protected]239-339-3969
    Bartomeo Property Management4.7150 Reviews
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  • Nathan MillerPro Member
    Property Manager · Grants Pass, OR · Member since 2009 · 429 posts · 201 votes
    1y

    The point-to-point money transfer apps and the landlord based software are often not designed for the added complexity of property management.  You may want to look at software designed specifically to include trust accounting (critically important if you are handling owner funds) and also supports outgoing ACH to owners.

    1Reply
  • Sam Golden
    Member since 2023 · 4 posts · 2 votes
    1y

    I use Buildium and it has the option to receive online payments from tenants and also has the function to pay owners online!  If you're growing you might want to invest in the pm software platform.  I chose the $49 per month plan and it works for me!

    2Reply
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