Author Topic: Recommendation needed: websites for rent payment  (Read 1393 times)

Stephaniekb

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Recommendation needed: websites for rent payment
« on: July 11, 2015, 10:08:35 PM »
We've owned rental property for quite a while, and have always given our tenants a bank account number and asked them to make electronic payments. Recently we've purchased two new properties that are farther from banks, so I've begun to wonder if it would be easier to use a website that facilitates rent payments. One I've looked at is Landlord Station, because I've used that site for tenant screenings. They charge $10/month and include 10 rent collections/month, which is more than adequate for my needs. Anyone have experience using either this site or any other websites for property owners with just a few properties?

Thanks

cshaw

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Re: Recommendation needed: websites for rent payment
« Reply #1 on: July 11, 2015, 11:25:15 PM »
I use erentpayment.com and haven't had any problems and really like the ease and convenience.  They charge $3.00 to process the rent payments via ACH (takes 3 business days to clear) which can be paid for by you, your tenant, or split between the two of you.  Lot of options to send reminders, accept/deny partial payments, process/refund security deposit, etc.  I haven't used Landlord Station, but 10 for $10/month seems very reasonable.

NoNonsenseLandlord

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Re: Recommendation needed: websites for rent payment
« Reply #2 on: July 12, 2015, 06:57:33 AM »
It depends on if you want the tenant to 'push' the payment, or if you want to 'pull' the payment.

Some of my tenants use PayPal, and do the personal options.  It's free and easy.

Others use BillPay, from their own bank.  It's free and easy.

I have head good things from ClearNow.  That is a landlord pull.

CashFlowDiaries

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Re: Recommendation needed: websites for rent payment
« Reply #3 on: July 12, 2015, 04:59:07 PM »
I use Chase Quick Pay.  It is a free service that Chase Bank provides as long as you have an account with Chase.   It is completely free and your tenant does not need to have a chase account.   I just sent a notification to pay every month for X amount and the tenant gets an email. All they do is click on the link and it takes them to chase quick pay where they login with a free account and pay.

Its great and best of all, ITS FREE!! 

If you dont have a chase account, just get a free checking account or something.  The payment from the tenant will automatically go to your chase account.  I just happen to use Chase for my business and personal checking accounts so it works out perfect for me.

Look it up.
Passive Income earner.  Creator of  www.cashflowdiaries.com

MaxRules

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Re: Recommendation needed: websites for rent payment
« Reply #4 on: July 15, 2015, 04:12:09 PM »
Great topic I'm looking for options also.

ceciliasdad

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Re: Recommendation needed: websites for rent payment
« Reply #5 on: July 16, 2015, 02:06:54 PM »
Do any of the sites listed here accept credit card payments?  I was thinking it might be nice to accept credit cards as an option... in case a renter is having some trouble making a payment (which will likely make me consider evicting them).

I'd love a full service option that enables me to maintain an account or two, make bill payments to my mortgage, write checks and track expenses.  Chase quick pay + a checking account sounds interesting for this, does anyone have other recommendations?

ceciliasdad

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Re: Recommendation needed: websites for rent payment
« Reply #6 on: July 16, 2015, 02:53:31 PM »
Additional question: Are any of these services able to send an alert if a payment is NOT received by a certain date? I only care about rent payments if a tenant did NOT pay on time.

Fishingmn

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Re: Recommendation needed: websites for rent payment
« Reply #7 on: July 16, 2015, 04:36:10 PM »
I started using Cozy 4 months ago - www.cozy.co

It's free for all parties - they do make money off of selling background checks but that's optional. Works great but be forewarned that the money doesn't hit your account until around the 7th of the month.

powskier

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Re: Recommendation needed: websites for rent payment
« Reply #8 on: July 16, 2015, 07:38:42 PM »
Other option: I opened bank accounts( free) in the same banks my tenants had so they could just do an in house transfer. The minor "multiple accounts hassle" thing is offset by making it easy for them to pay on time and for me to check from anywhere.