Mannnn thank you for this content. My wife and I just bought a duplex as our first rental. We have been reading/binging YT. Thank you for letting us peep your game for free
Glad I could help! I think duplex's are the ideal first rental, so you are definitely starting off right! I'll be continuing to post content to help everyone out!
We have been landlords for 30 years, and in Baltimore area too! We have tried everything and cash is by far the best. It is totally traceable, we write a receipt, we both sign it, and give tenant a copy. Never take a check, and money orders can be printed on any good printer. Never use the mail because payments will always "get lost". We have good luck with PayPal and VENMO too, tenant knows they are responsible for any fees, and immediately transfer funds out and into your bank. But by far the best has been for the tenant to simply deposit money into our bank account, we have one for each property and we use local banks. They write their name on the teller receipt and text us a pic. Using other "apps" really seemed to make the whole process too complicated.
I want to pay my rent using bill pay which one would I choose because the housing I live is owned by a company not a person would I choose company or person?
I do use Tenant Cloud currently. When I made this video I wasn't using it at the time. Overall I like it but I am not a fan of the tenant application process though since it bills the applicant twice
@@pmexplore They pay an application fee that you require and a credit check fee for the credit agencies. However instead of one payment, they pay online the first time for your fee and then get sent an email where they have to pay again. Just feels wierd
I think Zelle is with Wells Fargo business account. I wouldn’t collect with any app that would not let me collect the full amount only. It has to do with eviction & since the tenant send $10 thru the app then it shows their intent to pay the balance & it buys them more time since one can’t evict cause they can lie & said the landlord said it was ok. Just the way I collect. And yes, Cozy is best.
The untraceable Cash is preferred over the recorded and well documented phone app in court? I am curious why you say this? Tenants can just not pay and say they did pay you if you accept cash since you have no records that they didnt.
BEWARE ! The RentRedi interface is not secure!! Your personal information and your tenant's information is not secure! My landlord account was hacked only to learn that RentRedi allowed my bank information to be changed three times within a week without notifying me. Rents were collected in full, redirected and sent to a stranger. Ryan and Ed Barone have gone silent and have stopped communicating. I urge all users to evaluate your risks associated with this flimsy interface and absolutely use another system.
![What's The Best Way for Tenants to Pay Rent to the Landlord? [#AskBP 098]](http://i.ytimg.com/vi/rhdHZkERmpk/mqdefault.jpg)
Mannnn thank you for this content. My wife and I just bought a duplex as our first rental. We have been reading/binging YT. Thank you for letting us peep your game for free
Glad I could help! I think duplex's are the ideal first rental, so you are definitely starting off right! I'll be continuing to post content to help everyone out!
We have been landlords for 30 years, and in Baltimore area too! We have tried everything and cash is by far the best. It is totally traceable, we write a receipt, we both sign it, and give tenant a copy. Never take a check, and money orders can be printed on any good printer. Never use the mail because payments will always "get lost". We have good luck with PayPal and VENMO too, tenant knows they are responsible for any fees, and immediately transfer funds out and into your bank. But by far the best has been for the tenant to simply deposit money into our bank account, we have one for each property and we use local banks. They write their name on the teller receipt and text us a pic. Using other "apps" really seemed to make the whole process too complicated.
Another informative video-looking forward to more!!
More will be coming! Anything in particular that you woudl like to know about?
Devin Moreno - Yes-If you have information on how to prepare a property so that it has the best chance to pass a Section 8 inspection
Great info, thank you kindly!
Could Square be used to collect rent as well?
I want to pay my rent using bill pay which one would I choose because the housing I live is owned by a company not a person would I choose company or person?
How do you account for the payment in cozy, if you received the payment via another method?
I actually don't use Cozy for accounting purposes. Just to collect and screen. I use Stessa for Accounting
I want to avoid the IRS what electronic payment can I use?
@donald duck Im only taking cash and money orders this year I want to see what happens to others in 2023
@@six6goddess214 Zelle is not under the IRS $600 rule fyi
my bank allows me to get my zelle back and it often takes days for the person to get the money. i guess its on my banks end not zelle i n general
Do you use tenant cloud? Or something like that for tenant screening and management?
I do use Tenant Cloud currently. When I made this video I wasn't using it at the time. Overall I like it but I am not a fan of the tenant application process though since it bills the applicant twice
@@DevinMorenoInvesting oh good to know.
Can you expand on what you mean by billing applicants twice?
@@pmexplore They pay an application fee that you require and a credit check fee for the credit agencies. However instead of one payment, they pay online the first time for your fee and then get sent an email where they have to pay again. Just feels wierd
any experience collecting through Zillow?
I prefer not to use Zillow at the moment, so my experience is limited with it
I think Zelle is with Wells Fargo business account. I wouldn’t collect with any app that would not let me collect the full amount only. It has to do with eviction & since the tenant send $10 thru the app then it shows their intent to pay the balance & it buys them more time since one can’t evict cause they can lie & said the landlord said it was ok. Just the way I collect. And yes, Cozy is best.
Cash is king. Zelle will cause huge problems during an eviction.
The untraceable Cash is preferred over the recorded and well documented phone app in court? I am curious why you say this? Tenants can just not pay and say they did pay you if you accept cash since you have no records that they didnt.
BEWARE ! The RentRedi interface is not secure!! Your personal information and your tenant's information is not secure! My landlord account was hacked only to learn that RentRedi allowed my bank information to be changed three times within a week without notifying me. Rents were collected in full, redirected and sent to a stranger. Ryan and Ed Barone have gone silent and have stopped communicating. I urge all users to evaluate your risks associated with this flimsy interface and absolutely use another system.
quick pay
Never used that. I have to check it out