auto pay rent (by myob [GA]) Jul 9, 2019 8:34 AM|
auto pay rent (by Deanna [TX]) Jul 9, 2019 9:06 AM
auto pay rent (by WMH [NC]) Jul 9, 2019 9:09 AM
auto pay rent (by razorback_tim [AR]) Jul 9, 2019 9:20 AM
auto pay rent (by Drew [CO]) Jul 9, 2019 9:29 AM
auto pay rent (by CGB [MI]) Jul 9, 2019 10:03 AM
auto pay rent (by NE [PA]) Jul 9, 2019 10:13 AM
auto pay rent (by Sisco [MO]) Jul 9, 2019 10:37 AM
auto pay rent (by myob [GA]) Jul 9, 2019 11:31 AM
auto pay rent (by David O. [OH]) Jul 9, 2019 11:42 AM
auto pay rent (by Robert J [CA]) Jul 9, 2019 12:51 PM
auto pay rent (by Sisco [MO]) Jul 9, 2019 12:54 PM
auto pay rent (by 6x6 [TN]) Jul 9, 2019 6:51 PM
auto pay rent (by bet [MA]) Jul 9, 2019 8:45 PM
auto pay rent (by NE [PA]) Jul 9, 2019 9:07 PM
auto pay rent (by Small potatoes [NY]) Jul 9, 2019 10:50 PM
auto pay rent (by LisaFL [FL]) Jul 10, 2019 12:36 AM
auto pay rent (by Barb [MO]) Jul 10, 2019 8:35 AM
auto pay rent (by nhsailmaker [NH]) Jul 10, 2019 9:29 AM
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auto pay rent (by myob [GA]) Posted on: Jul 9, 2019 8:34 AM
after much reading here about not taking checks for rent and tenants with no checking account I've just realized this.
We have seen a measurable increase in people who pay by money order. Up to 90% now pay this way (most postal money). We give preprinted envelopes (not stamped) when doing their lease signing. 10% use checks. The ones who use checks send in payments early -- although most post date check to the first.
what percent of autodraw do you have? vs check paying or M.O?
auto pay rent (by Deanna [TX]) Posted on: Jul 9, 2019 9:06 AM
I've been transitioning into ClearNow as I have vacancies. The thing that pushed me over the edge was that too many people know me from elsewhere, and some of those people, instead of thinking of me as "the landlady-- gotta keep the landlady happy" think of me as "so-and-so's Mom from (activity)." And so they wouldn't have the rent money, but there would be plenty of stories. So for me, the point was to not make it be a conscious decision to pay--- I wanted something that would just take the money. And then later, when someone would say, "Hey, can we put off the rent for a week--?" I could say, "Sorry, it's a bank computer. I can't do anything to stop it." And they cope.
Right now, one-third of my working houses are on ClearNow, and two-thirds of my working houses are still on bank deposit. I have one tenant who works the 4 am - 4 pm shift and a bike and doesn't trust the night depository, so I pick up his rent in person. His rent is cash. On occasion, if I have to pick up someone's rent because they didn't make it to the bank on time, half the time it's in the form of MO's from the local gas station, and half the time it's cash.
I think I'm the only one under the age of 50 who uses checks. :P But when we were tenants (00-06), we used checks every month, and placed them in our landlady's personal home mailbox. (She had an iron gate over her front porch, but you could reach through the bars and drop it into a wall mailbox. She lived a block away from us.) --96.46.xxx.xx
auto pay rent (by WMH [NC]) Posted on: Jul 9, 2019 9:09 AM
No autodraw, but out of 31 tenants, I think 2 pay with an actual check at the bank, and one pays with postal money orders (I can see their deposits and method of payment online.) All of the rest now pay with Zelle or Google Pay. And most of them pay before the due date. ONE late payer that pays by the 5th. --50.82.xxx.xx
auto pay rent (by razorback_tim [AR]) Posted on: Jul 9, 2019 9:20 AM
Out of 38 units I have 4 long-term tenants who are not on ACH payments. All others pay via ACH. It's a requirement for new tenants. --64.134.xxx.xx
auto pay rent (by Drew [CO]) Posted on: Jul 9, 2019 9:29 AM
Out of 16, 9 pay with Zelle or Venmo, 5 pay with bank "deposit only" card (I get from my bank), 2 pay with check, and 1 pays with money order. --172.58.xx.xx
auto pay rent (by CGB [MI]) Posted on: Jul 9, 2019 10:03 AM
I dont take cash, money orders or checks with the exception of of a cashier's check at lease signing. --73.144.xxx.xxx
auto pay rent (by NE [PA]) Posted on: Jul 9, 2019 10:13 AM
All my tenants are on autodraft except 1 storage unit tenant. I require it to be set up before I'll sign lease. --174.201.xx.xxx
auto pay rent (by Sisco [MO]) Posted on: Jul 9, 2019 10:37 AM
I have not signed a new lease that does not require ACH payment in 18 months. 24 ACH currently. 55 who pay at the bank, 2 use a automatically generated paper check.
ACH has greatly improved my operation, it keeps good payers good. It leads to auto renewals with auto rent increases. --65.114.xxx.xx
auto pay rent (by myob [GA]) Posted on: Jul 9, 2019 11:31 AM
what are your down sides to this-- like a closed account? or stop auto draft---- I have 63 of these things and wouldn't that mean possible 63 different lenders to auto draft from?
It just seems like it could be difficult to oversee... thanks all. --99.103.xxx.xxx
auto pay rent (by David O. [OH]) Posted on: Jul 9, 2019 11:42 AM
I have four that pay four that pay with a deposit slip at the local bank, one is disabled and gives me six months of check at one time, and one pays Venmo. Only one has a checking account. --12.53.xx.xxx
auto pay rent (by Robert J [CA]) Posted on: Jul 9, 2019 12:51 PM
With my low income unsophisticated tenants, they still pay by personal check and/or money order.
With my middle class tenants in "B" or better locations, they pay half by "auto-payment" and half by mailing me a personal check.
With my up-scale rentals, most of the tenants do "Bank payments" to my accounts. --47.156.xx.xx
auto pay rent (by Sisco [MO]) Posted on: Jul 9, 2019 12:54 PM
MYOB, the downsides to ACH are that you will be quickly and reliably informed that your tenant purposely stopped your payment. As for ACH being a management hassle....it greatly reduces hassles. --72.172.xxx.xx
auto pay rent (by 6x6 [TN]) Posted on: Jul 9, 2019 6:51 PM
myob, Are you changing your mind about accepting checks?
I am going to try ACH I think. I think that is what my tenant wants to do after prepaid money is used up.
Deanna, I still use checks and US postal service to pay bills and use cash for everything else. I do not trust paying bills electronically. --73.120.xx.xxx
auto pay rent (by bet [MA]) Posted on: Jul 9, 2019 8:45 PM
All 30 units are on Clearnow. --73.227.xxx.xxx
auto pay rent (by NE [PA]) Posted on: Jul 9, 2019 9:07 PM
Clearnow. Doesn't matter what bank they use. You set up with them as the landlord once and the tenants complete the enrollment form on their own during screening process. --50.32.xxx.x
auto pay rent (by Small potatoes [NY]) Posted on: Jul 9, 2019 10:50 PM
My tenants are money order people. Even if they have a bank account at the credit union where they can get free checks, it just doesn't click.
Is there a fee w clear now? --99.203.xx.xxx
auto pay rent (by LisaFL [FL]) Posted on: Jul 10, 2019 12:36 AM
Been using Clearnow for about 12 years now. It's a requirement in my lease. --75.89.xx.xxx
auto pay rent (by Barb [MO]) Posted on: Jul 10, 2019 8:35 AM
Small Potatoes, there is a fee. $15 for the first debit and 2 for each additional one. For July, I paid about $37 in fees. It saved me plenty. No trips to the Post Office to pick up mail. No wondering if it would be there, and no repeat trips for late mail.
No trips to the banks for deposits. No wondering whose check would bounce.
No manually making photo copies of each checks to save or scanning them in to keep. (we saved images for years just in case).
No manually recording each one in the ledger. I download a CSV from Clearnow. --64.251.xxx.xxx
auto pay rent (by nhsailmaker [NH]) Posted on: Jul 10, 2019 9:29 AM
what are "Checks" and " Money orders" ? teehee
do you still have a FAX machine?
I don't even do payment services - 100% required to get rent in Bank account on their own on or before the 1st - Thats it !
I go on-line and verify receipt the evening of the 1st - all there - then I pay all the monthly bills on-line - rarely think about rents and bills again for the whole month
what is an "envelope" - what is a "stamp" thingy people talk about ???? - teehee --24.62.xxx.xxx
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