 Zelle Return of Deposit (by WMH [NC]) Sep 28, 2024 11:21 AM
 Zelle Return of Deposit (by WMH [NC]) Sep 28, 2024 11:25 AM
Zelle Return of Deposit (by zero [IN]) Sep 28, 2024 1:07 PM
Zelle Return of Deposit (by BRAD 20,000 [IN]) Sep 28, 2024 2:14 PM
Zelle Return of Deposit (by mapleaf18 [NY]) Sep 28, 2024 5:12 PM
Zelle Return of Deposit (by WMH [NC]) Sep 28, 2024 6:13 PM
Zelle Return of Deposit (by Oreo [WI]) Sep 28, 2024 11:13 PM
Zelle Return of Deposit (by elliot [RI]) Sep 29, 2024 9:14 AM
Zelle Return of Deposit (by WMH [NC]) Sep 29, 2024 10:37 AM
Zelle Return of Deposit (by 6x6 [TN]) Sep 29, 2024 11:20 AM
Zelle Return of Deposit (by WMH [NC]) Sep 29, 2024 11:30 AM
Zelle Return of Deposit (by 6x6 [TN]) Sep 29, 2024 12:29 PM
Zelle Return of Deposit (by zero [IN]) Sep 29, 2024 1:43 PM
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Zelle Return of Deposit (by WMH [NC]) Posted on: Sep 28, 2024 11:21 AM
Message:
We require all deposits and rents be paid through the Resident Portal in Buildium online, which is great.
At end of lease, we have the option of sending the Deposit from the trust account using the bank's Bill Pay service, which works but takes a while and there is always the USPS issues.
I much prefer using Zelle. It's fast, secure and gives you multiple proofs of both sending and delivery.
--173.28.xx.xxx |
Zelle Return of Deposit (by WMH [NC]) Posted on: Sep 28, 2024 11:25 AM
Message:
Posted too soon, here's the rest:
Recently had a departing tenant who banks with a credit union and she couldn't connect with Zelle. So I sent $1.00 to her phone number and she signed up to accept that, and now we were linked and I could return her SD and some pro-rated rent (new tenants paid for some of the month.)
I don't know where she received the actual funds, she had said something about her mother's account, so maybe she used that at her end I don't know - all I know is I have proof the refund was sent, date, time, etc. and she got it fast rather than waiting for USPS snail mail.
FWIW. Always trying to improve processes. --173.28.xx.xxx |
Zelle Return of Deposit (by zero [IN]) Posted on: Sep 28, 2024 1:07 PM
Message:
My CU doesn't allow Zelle. I set up a Venmo account and actually received the SD from my last place.
I guess paying the SD electronically is faster and easier than snail mail. The cost is probably the same if you have a biz account for Venmo.
Do you email the list of what the SD was used for such as damages or late rents? --149.34.xxx.xxx |
Zelle Return of Deposit (by BRAD 20,000 [IN]) Posted on: Sep 28, 2024 2:14 PM
Message:
W,
Good idea!
The only thing constant in business is change.
Tech is getting better and easier every day, even for old school LLs.
We take Venmo for move in funds because it works 24/7/365, is easy/instant for them to sign up, and we get instant notice they paid.
Me? We don't take deposits so I don't run into deposit return deadlines, challenges, or problems.
BRAD
--73.103.xxx.xxx |
Zelle Return of Deposit (by mapleaf18 [NY]) Posted on: Sep 28, 2024 5:12 PM
Message:
Doesn't Venmo have a clawback function? --64.246.xxx.xx |
Zelle Return of Deposit (by WMH [NC]) Posted on: Sep 28, 2024 6:13 PM
Message:
Mapleaf, that's why I don't use it anymore - it does, as does Cash App. It is really for "cash between friends" not business. Zelle is more secure overall as it is bank to bank. Another reason is the apps want to 1099 for cash received, even if it is a deposit (not my money, and it is not taxable cash to the tenant either.)
Zero, I always send the Accounting via email and the refund separately - all communications are electronic per the lease.
No late rent but she did smash a glass fridge shelf while cleaning it! So there was that deduction. And a final water bill which I always pay myself and deduct from deposit so I know it's done. --173.28.xx.xxx |
Zelle Return of Deposit (by Oreo [WI]) Posted on: Sep 28, 2024 11:13 PM
Message:
I also have been sending sec deposits via Zelle with the accounting via email. Only thing bothersome is I need to split up the payments as the sec returns are larger than allowed to send in one transaction. --75.11.xx.xx |
Zelle Return of Deposit (by elliot [RI]) Posted on: Sep 29, 2024 9:14 AM
Message:
I did that a couple of times, saved me a couple of stamps and a trip to post office. I usually text or email the departing tenant the move out statement, as long as they agree to it, Zelle the refund.. Done --96.253.xx.xx |
Zelle Return of Deposit (by WMH [NC]) Posted on: Sep 29, 2024 10:37 AM
Message:
Zero you can set the limit you can send - on a business account I discovered (by mistake) you can send $5k a day. More than any deposit I have on hand. $1k is for personal accounts, I think. --173.28.xx.xxx |
Zelle Return of Deposit (by 6x6 [TN]) Posted on: Sep 29, 2024 11:20 AM
Message:
Is there a cost to using the business side of Zelle? --73.108.xxx.xxx |
Zelle Return of Deposit (by WMH [NC]) Posted on: Sep 29, 2024 11:30 AM
Message:
Not so far, 6x6. --173.28.xx.xxx |
Zelle Return of Deposit (by 6x6 [TN]) Posted on: Sep 29, 2024 12:29 PM
Message:
Thank you, WMH. --73.108.xxx.xxx |
Zelle Return of Deposit (by zero [IN]) Posted on: Sep 29, 2024 1:43 PM
Message:
Since my CU doesn't offer Zelle I need to use their app.
Wonderful.
Oops, you must have a debit card to do that and I only have credit cards.
No biz charge and no clawbacks makes me want to look into a debit card I guess. --107.147.xx.xx |
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