Loving Square pymts!
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Loving Square pymts! (by NE [PA]) Oct 16, 2018 4:47 AM
       Loving Square pymts! (by Mickie [OH]) Oct 16, 2018 5:41 AM
       Loving Square pymts! (by NE [PA]) Oct 16, 2018 5:46 AM
       Loving Square pymts! (by Mickie [OH]) Oct 16, 2018 5:59 AM
       Loving Square pymts! (by RathdrumGal [ID]) Oct 16, 2018 8:03 AM
       Loving Square pymts! (by NE [PA]) Oct 16, 2018 8:51 AM
       Loving Square pymts! (by Still Learning [NH]) Oct 16, 2018 9:08 AM
       Loving Square pymts! (by NE [PA]) Oct 16, 2018 11:41 AM
       Loving Square pymts! (by gevans [SC]) Oct 16, 2018 3:17 PM
       Loving Square pymts! (by DJ [VA]) Oct 16, 2018 5:43 PM
       Loving Square pymts! (by Jon S [PA]) Oct 17, 2018 5:01 AM
       Loving Square pymts! (by Barb [MO]) Oct 17, 2018 9:24 AM
       Loving Square pymts! (by razorback_tim [AR]) Oct 17, 2018 10:11 AM
       Loving Square pymts! (by Drew [CO]) Oct 18, 2018 5:40 AM
       Loving Square pymts! (by BRAD 20,000 [IN]) Oct 18, 2018 7:39 AM
       Loving Square pymts! (by BRAD 20,000 [IN]) Oct 18, 2018 7:40 AM


Loving Square pymts! (by NE [PA]) Posted on: Oct 16, 2018 4:47 AM
Message:

When I first started using square about five or six years ago, I stopped. The reason I stopped was because I started getting emails of purchases that people were making who paid me through Square. I wasn't comfortable with that so I canceled. Since I got home from the convention, I thought I'd give it another try.

I've been collecting application fees that way. I raised my application fee 50% from $20 to $30 and have increased my income from application fees alone just by sending invoices to their emails.

I also took a holding fee this way at the beginning of the month because I told the person that if they didn't pay the holding fee that day, that the Rent discount was going away the next day. (It was, but this was a lead who needed A little motivation to pull the trigger on this unit. )

I also had another young set of lady tenants who wanted to get another cat and paid the second pet registration fee and the first month pet fee through Square. I had told her to send in the $125 to the PO Box and she said OK. The week went by and it wasn't there, so I texted her and let her know that there was an option to pay it with her debit or credit card if she prefer that than getting a check or money order. She was excited to be able to do that and asked if she could. I sent her the invoice in her email and with in 15 minutes it was paid.

I also received a rent payment for it this morning on a storage unit. The lady is late and often and pays the late fee. I sent her the invoice with the late fee included. And she paid it.

I think that this is going to help me collect rents when people are behind because they will be able to put it on a credit card if they have to. They may have room on the credit card, just no cash to pay the rent with. So it's definitely an option. I really like it for incoming tenants with the speed of getting application fees and holding fees.

--50.107.xxx.xxx




Loving Square pymts! (by Mickie [OH]) Posted on: Oct 16, 2018 5:41 AM
Message:

I looked at square once as a way to collect deposits and first months rent but at that time there was a limit and rent alone was more than the transaction limit. I wonder if that's changed. --199.253.xxx.xx




Loving Square pymts! (by NE [PA]) Posted on: Oct 16, 2018 5:46 AM
Message:

Maybe Mickie, I don't know. The holding fee that I took was $850. --174.201.xx.xxx




Loving Square pymts! (by Mickie [OH]) Posted on: Oct 16, 2018 5:59 AM
Message:

It sounds like the limits have changed. I may have to take a second look. It would makeease up nice. --199.253.xxx.xx




Loving Square pymts! (by RathdrumGal [ID]) Posted on: Oct 16, 2018 8:03 AM
Message:

NE -- excuse my stupid question. They only time I have used Square is when I am buying something from farmer's market-type vendors. They have the card reader plugged into their tablet computer in order to be able to accept POS credit cards.

Is a card reader plugged into a computer required to accept the fees, so you have to be physically present to get paid (so tenant can swipe their card)? Or is Square now a phone app that your tenants can use remotely? --98.146.xxx.xxx




Loving Square pymts! (by NE [PA]) Posted on: Oct 16, 2018 8:51 AM
Message:

Rathdrumgal. I use the phone app. --174.201.xx.xxx




Loving Square pymts! (by Still Learning [NH]) Posted on: Oct 16, 2018 9:08 AM
Message:

Do you pass the 2-3% on to the payee? --24.61.xxx.xx




Loving Square pymts! (by NE [PA]) Posted on: Oct 16, 2018 11:41 AM
Message:

No --174.201.xx.xxx




Loving Square pymts! (by gevans [SC]) Posted on: Oct 16, 2018 3:17 PM
Message:

I'm using Square to collect payments for rent from government employees. They are required to pay per diem rent with a credit card.

I'm able to charge right at $3k all at once, so the limits have definitely been raised. 2.75 percent charge for the service, not bad.

I can send invoices via email or text. I can make repeat payments with a stored credit card from a repeat customer (and hopefully all tenants are repeat customers).

My military tenants love it becuase it provides an electronic paper trail for the reimbursement office.

--98.122.x.xx




Loving Square pymts! (by DJ [VA]) Posted on: Oct 16, 2018 5:43 PM
Message:

Very interesting. I've been mulling over better ways for the lowest-income tenants (roomers) to pay. Can the debit cards that receive Social Security benefits be debited this way? --68.10.xxx.x




Loving Square pymts! (by Jon S [PA]) Posted on: Oct 17, 2018 5:01 AM
Message:

I use Quickbooks to keep track of my rentals. An App made by quickbooks for your phone is called "GoPayment". It allows you to invoice and take credit cards with your phone. Sounds like a similar feature to Square and I like the the fact that it automatically synchs with my accounting software. --24.3.xxx.xxx




Loving Square pymts! (by Barb [MO]) Posted on: Oct 17, 2018 9:24 AM
Message:

DJ - The answer SHOULD be yes. I know people who get their child support through the state on those cards, and they always have a MC/Visa logo on them and say MC Debit or Visa Debit card. The people I know can use them to get cash out when shopping at the store as well, usually with a limit of like $150 per day or so. --131.151.xx.xx




Loving Square pymts! (by razorback_tim [AR]) Posted on: Oct 17, 2018 10:11 AM
Message:

DJ - most of the debit cards like you are referring to will also have a routing and account number. If you can get your tenant to cooperate in getting that info you may be able to process an ACH cheaper than processing a debit card. But yes, you should be able to process payments from those cards via Square as well if you’d like. --166.137.xxx.xxx




Loving Square pymts! (by Drew [CO]) Posted on: Oct 18, 2018 5:40 AM
Message:

Oh that’s good! I just started using Zelle and Venmo for direct payments of rent. With Venmo I know they can pay with credit or debit. Not sure about Zelle. No charge to me on either of these. When I first started to explore direct payments or billing payments this year it was for an out of state applicant and I used “PayPal”. But once I got charged the 3% on SD and Rent (on about $1700), I realized that the fees (if done for 16 units) could add up. So for now I’ve got 7 out of 16 paying rent this way and I love it! I think “Square” has a more professional or commerce-oriented appearance/use. I wonder if there are other advantages to Square versus the others. --172.58.xx.xx




Loving Square pymts! (by BRAD 20,000 [IN]) Posted on: Oct 18, 2018 7:39 AM
Message:

NE,

Love Square! Been using it for years.

A local landlord has all of her rents come in this way using the recurring automatic payment feature.

RathdrumGal,

The LL can enter the transaction over the phone by typing in the card numbers. The fee is slightly higher for this method.

BRAD --174.231.xxx.xx




Loving Square pymts! (by BRAD 20,000 [IN]) Posted on: Oct 18, 2018 7:40 AM
Message:

NE,

Love Square! Been using it for years.

A local landlord has all of her rents come in this way using the recurring automatic payment feature.

RathdrumGal,

The LL can enter the transaction over the phone by typing in the card numbers. The fee is slightly higher for this method.

BRAD --174.231.xxx.xx





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