 New app criteria (by S i d [MO]) Oct 16, 2018 8:04 AM
 New app criteria (by NE [PA]) Oct 16, 2018 8:55 AM
New app criteria (by Mickie [OH]) Oct 16, 2018 9:19 AM
New app criteria (by Sisco [MO]) Oct 16, 2018 9:27 AM
New app criteria (by razorback_tim [AR]) Oct 16, 2018 9:34 AM
New app criteria (by LisaFL [FL]) Oct 16, 2018 10:07 AM
New app criteria (by BRAD 20,000 [IN]) Oct 16, 2018 11:05 PM
New app criteria (by S i d [MO]) Posted on: Oct 16, 2018 8:04 AM
Message:
I'm working to move my tenants over to automated rent collection. While I've enjoyed my system of having them pay at the bank, it seems like the tenants who a) have bank accounts and b) ensure rent money is there for when I come to take it tend to stay longer, leave the place nicer when they do finally move, and are generally easier to deal with. To that end....
I'm thinking about adding, "applicant agrees to pay by automatic electronic debit Yes/No" to my application with a "No" resulting in DQ. Alternative thought is to still allow folks to use my legacy system, but charge a premium ($15/monthly payment, $10/biweekly or bimonthly payment?).
I rent Class C houses that are clean, safe, and functional.
Thoughts? --173.20.xxx.xxx |
New app criteria (by NE [PA]) Posted on: Oct 16, 2018 8:55 AM
Message:
I have in the app if the want monthly or bi-weekly auto debit then I verify it's been set up before I will let them sign lease. --174.201.xx.xxx |
New app criteria (by Mickie [OH]) Posted on: Oct 16, 2018 9:19 AM
Message:
I like the idea. When I started offering an option to let tenants pay online most wanted that option and only 1 or 2 stayed with dropping off at the bank. The others went with direct deposit from their employer which didn't cost them anything. For ACH I think it would be a way of helping new tenants make the decision to say yes. --174.233.x.xxx |
New app criteria (by Sisco [MO]) Posted on: Oct 16, 2018 9:27 AM
Message:
Sid, try this:
PAYMENTS: Rent is to be paid by automatic draft from your checking account. Rent prices are based on this system of payment. Handling paper money may result in additional costs to the resident. --72.172.xxx.xx |
New app criteria (by razorback_tim [AR]) Posted on: Oct 16, 2018 9:34 AM
Message:
When I first started electronic rent collection I still offered a pay-at-the bank option at a higher rate. After some time I realized that all of my problem tenants were those without bank accounts who were paying at the bank. My criteria today is firm - you have to have a bank account and have to pay electronically in order to rent from me. --166.137.xxx.xx |
New app criteria (by LisaFL [FL]) Posted on: Oct 16, 2018 10:07 AM
Message:
Sid,
I do what's Tim does and have done so for years. My rental ADs state that applicants must have a checking account and agree to ACH rent payments. I do not charge for this service but it is my only acceptable method of payment.
My lease goes on to say that two or more failed drafts in a six month period are subject to lease termination at my discretion. Because if you stop your draft or it fails you're not abiding by the terms of the lease and therefore that doesn't work for me.
I do have those who have to periodically stop their payments and the occasional failure so I then allow them to deposit into my bank account directly with fees. But for the most part I have very few issues. --75.89.xx.xxx |
New app criteria (by BRAD 20,000 [IN]) Posted on: Oct 16, 2018 11:05 PM
Message:
Sid,
Don't be shy. Shift your thinking. People WANT autodraft, not walking to the bank. I's the LLs who have trouble accepting this, not the renters.
Sisco took the words right outta my mouth (or my lease!)
We don't "give" them the option. THIS is how rent is collected.
Gopher it!
BRAD --68.50.xxx.xxx |
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