Landlord, what do you use as forms of payments for your renters?? Any best practices, tips??

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Zelle pay

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Apartments . Com is great

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We use the Avail platform. They set up their bank account and auto deducts

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Same. Avail has been an incredible platform for managing our rental. I LOVE that the tenant can set up auto draft

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Zelle

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I use Innago. I just link my business checking account for monthly payments and savings account for security deposits. Tenants pay through the platform and can avoid paying fees by sending an eCheck. Never had a problem using their service.

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Love this!

I’m in Europe, just get direct bank transfers on the 1st of every month. Mortgages due on the 15th to allow for minor delays but keep a buffer of 3 months debt service for the whole portfolio (8 units) just in case.

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Yep. That’s why sites that act as a medium actually provide a service

I’ve used Zelle and Venmo in the past.

The problem with Zelle is you can’t really have a business account the last time I checked. Very hard for multifamily buildings owned by an LLC that want to keep things separate. We just had a drop box where people put in checks/money orders. Old school, yes, but I found it easier.

Actually Chase business allows this now. But you’re right not all business account provides this capability. I had to open a chase account just for using zelle.

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