Hi. What are landlord's doing for collecting rent? I heard zelle will charge you or tax you. Is that true? I wanted direct deposit but tenants bank is saying only if she had a business she could do that?

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No, false

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No Zelle doesn’t charge tax. Venmo will if it’s a business acct

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I use Venmo with my tenants

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Banks can send out of check directly from the tenants bank. Tell tenant to use Bill Pay

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You will need to give tenant a mailbox address to send check to

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Each state all the way down to city, township, or municipality has their own laws. Check for your area

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Zelle has always worked perfect for my tenants.

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We’ve done Zelle and Venmo without issue.

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We do Zelle just fine

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My tenant pays me using Zelle, it’s fine, no fees.

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Zelle, Venmo or Cashapp, have never had any problems with being “taxed”, I just reported the rent on my 1040 at the end of the year.

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When we had a bunch of multi family stuff I went through my bank and was able to do ACH transfers. I could debit any tenant’s account. Also set it up so you can take credit cards/debit cards. You can gross up the amount to pay for the surcharge. Make sure that is in the lease.

I use Zelle and cash app. No fee or tax impact.

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