I've been using Clearnow for about twelve years now. Their prices have never increased.

Cost is $14.95 and includes the first draft/property. Each additional draft/property is $2.00 more. So if you had 10 drafts it would be $14.95 plus $18.00 ($32.95).

In January I had 37 debits, $86.95.

You receive the deposit in three business days.

Cozy.

Payyourrent.com

They have a tiered price structure depending on how many units are using the service. They use merchant accounts. Tenants pay $3.00 a transaction with no monthly service fee. If tenants draft by 3 PM, deposits are dropped the following day. They process on a zero day hold.

Jen,

There is a big difference in services.

We TAKE the money out of their account. ClearNow does that.

Some services sit and wait for the res to decide to pay. If they don't click you don't get paid - back to the same ol' HOPING they pay the rent.

Do your tenants on Auto Draft or auto pay have to have a checking account at a local bank?

Most ACH services offer an auto-pay feature. Just require that tenants use the auto-pay feature. Out of the approximately 50 tenants I have using online payments, probably 75% of them are set up on auto-pay of their own volition.

I will say when I switched over 5 years ago to ACH drafts for rent payment & stopped waiting on the check in the mail, my on-time payments went way up. Whether you are taking checks, direct deposit at the bank or cash, there's always a percentage of tenants that are harder to collect than others. I don't chase a lot of late pays a month......I chased even fewer after I switched to online payments.

And most online services will draft off debit cards.

CJ(Mo):

I use Quickbooks Online. I don't really know whether you can do this through the desktop version or not. With Quickbooks Online you can use either of 2 methods. One is you can email them an invoice for the rent. In that method the tenant clicks on a button on the invoice and inserts routing number and account number. This is the method most of my tenants use, it works well. And since we started using it many of the tenant pay ahead of time. Well worth it. I require it in my lease now. The second method just withdraws it automatically from their account of a specific day. You have to set it up, but that's not a difficult procedure. Actually I was unaware I could use the method so I've only used it with one tenant. But it worked like a charm. At $.50 this is well worth it.

Roy (AL)

I wasn't sure if you were asking me a question, but in case you were. I invoice my tenants. But you can auto-draft their account too. You pick the method. I had a tenant who wanted to be autodrafted. What I experience with that was great, I had it set up to take it out on the 1st. No problem with that. Quickbooks takes it, it goes through the ACH system and is deposit in your account.

What's funny is that this particular guy used to pay before the 1st when I sent him the invoice and he picked the time. Many of my tenant now pay before the 1st, so I'd hate to change anything! lol.

I used eRentPayment for several years and was very happy with them until their jawdropping bungling of the fraud issue. Right now some of my tenants use PopMoney, some use Zelle, some have their bank take it out of their account and transfer it into mine, and some make cash deposits in my non-top tier banks.

I'm at 100% for January rent collection (take that, Cimba!), but I have to go and check to make sure everyone made their deposits. What I liked about eRentPayment was that I got an email if someone DIDN'T make their payment. So this is a little more work.