What's The Best Way for Tenants to Pay Rent to the Landlord? [#AskBP 098]

Accepting rent from tenants would seem to be fairly straightforward, but each method has it's upsides and downsides. In this episode of the #AskBP Podcast, Brandon shares several different methods he has used to accept rent from tenants, as well as some dangers to look out for.

[mattp]

Dont use Zelle. If youre trying to evict, they can make a partial payment which will tie up your eviction process.

[bobisthebuilder]

Money orders, quick and clean.
1 They available at post offices and grocery stores.
2 They are all prepaid,
3. Everyone has a receipt.They drop it off at my bank on the due date.

Don’t screw around;
rent is due on the first. If not paid by the third, 30 day notice goes out and eviction papers are filed.

[carlrandal]

Righteous #AskBP video Brandon! That is one of those seemingly minor questions that has major ramifications. Thanks!!

[tdotty]

Can you guys do an update to this video on current systems?

[SteveAubrey]

There is no way I'm letting a tenant know where I live. I would think direct deposit would be a good idea.

[DeanValenzuela]

How about Zelle, Venmo, PayPal, ChasePay as method of payment?

[Wolverine]

I got a letter from someone that was sent like 4 years before I got it. That about destroyed my opinion on the mail system

[workingshlub]

i still go door to door each month..think of it this way.. they know you are coming and any repairs or concerns they have thats the best time to address those things..people feel good to talk to the actual owner of the property who can get things done and not some secretary in an office. it is also good because you can see the apartment and make sure it is not being wrecked and nothing bad is going on. nothing replaces the owner being on site.

[terryheaton]

I accept rent on line, Apple Pay and Zella. I no longer accept checks.

[TheKevinlefty]

im loving this video! Never thought of the cons of accepting cash rent. A lot of landlords around my area all collect cash like its no big deal. goes to show you the hobby landlords from the Professional landlords. Thanks for the video :)

[ericshwn]

Can you please redo this video. Would love to know what you use now.

[koreypaul]

God bless anyone up to speed with the 21st century!

[genew]

Tenants should get an account with a credit Union. They offer free cashier’s checks. The tenant has proof when they paid and landlord gets a good check. When it’s cashed, the tenant knows the landlord got their money. Great system. Protects both parties

[shelby]

What do you do if you rent rooms and you collect rent Weekly?

[paulalewis]

I love Zelle, works great for my business!

[michaeljulian]

Can you legally turn away cash? The phrase, "Legal tender for all debts public or private" comes to mind. Who puts $500.00 in their car and loses it for months? I prefer direct deposit, but I'll take $ if needed.

[KiranKumarBokkesam]

before pressing the like button i pressed the subscribe button

[workingshlub]

never rent to anyone who does not have a bank account of some sort...i can think of 100 reasons why someones credit is bad . divorce..huge medical bills etc.. no reason not to have at least a savings account. bank check or money order is the way to go. ill take the occasional cash payment and give reciept but i prefer the other way.

[glenbrickman]

I have them drop payment into my credit union it’s a third party works great

[waterbottle]

I pay with a cheque or a money order I absolutely refuse to pay in cash ever.