Anyone Collect Rent Using Credit Card Payment?

I have (3) rental properties. I set up a checking account, got pre printed duplicate deposit tickets. The tenants deposit their rent, cash in the bank. They can deposit all month, any time as long as the funds are there on the 1st. This does not cost me a cent. Why do you want to spend $25/month? That is $300/yr that could be in your pocket or help pay your insurance or taxes.

Comments(10)

  • demolady17th January, 2006

    I have (3) rental properties. I set up a checking account, got pre printed duplicate deposit tickets. The tenants deposit their rent, cash in the bank. They can deposit all month, any time as long as the funds are there on the 1st. This does not cost me a cent. Why do you want to spend $25/month? That is $300/yr that could be in your pocket or help pay your insurance or taxes.

  • demolady17th January, 2006

    I have (3) rental properties. I set up a checking account, got pre printed duplicate deposit tickets. The tenants deposit their rent, cash in the bank. They can deposit all month, any time as long as the funds are there on the 1st. This does not cost me a cent. Why do you want to spend $25/month? That is $300/yr that could be in your pocket or help pay your insurance or taxes.

  • ddstew17th January, 2006

    Try this, have tenant make out 12 checks all dated for the first of each month. Never late...

  • datalynx219th January, 2006

    I have heard of a manager that has the tenant put a valid credit card number on the lease to be used in case of default. I use an onsite system for my larger properties with a lock box and one responsible person gathering them up and issuing receipts. On homes I make sure they have plenty of addressed envelopes, sometimes stamped already.
    Demolady, be careful with the pre-printed deposit tickets! Wth those numbers, the money can go the other direction!
    Happy Management!

  • Lennyseleven3rd February, 2006

    I used to have my tenants go to my bank and deposit the rent and my bank has a good website, so I would just transfer it as soon as they deposited it, that way that cant take anything out.

    -Nick

  • mritorto19th February, 2006

    paypal also has a free service but you can accept credit cards but you can pull money from their account

    you can use www.sublet.com for direct bank deposits

  • d_random10th February, 2006

    Wow Newkid, that is an ingenious strategy! Color me impressed!

  • LesLaroche19th February, 2006

    Did she already move out? Does she no longer want her personal property?

  • InActive_Account7th December, 2005

    me either - would like know.

  • JamesStreet8th December, 2005

    What would you like to see in this magazine? How would it stand out? Just wondering

    J

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