Recommendations for Rent Collection in Self Managed Property
We are purchasing a quadplex in Colorado and will live in one of the units, which is making us lean towards self-managing the property as we will be on-site anyway, have no problem cleaning toilets/general handyman work, one of us can be home all day at least 4 days/week, etc. However, we're wondering what are the best ways to collect rent in a self-management situation. I know we can set up credit/debit card payments online through many traditional services, but are there any particular methods or services that are recommended by those already experienced with self-management? We don't need exact recommendations, but we'd like to know if you've had success with simple wire transfers, prefer money orders, etc.
Most Popular Reply
Cozy, go to the website and sign up. Use them for screening and collection. Easy peasy.
only catch is you'll get paid like a week after the rent is due because of processing the payments, but you'll be notified its being processed on the day its paid (due date)