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Our tenants are signing their 3rd year lease with us next month. They've asked if we can set up automatic bill pay for their rent. What are the different services that exist for no fee or only a small fee? We bank at a different institution than they do. Thank you for any advice you can offer.
Our tenants are signing their 3rd year lease with us next month. They've asked if we can set up automatic bill pay for their rent. What are the different services that exist for no fee or only a small fee? We bank at a different institution than they do. Thank you for any advice you can offer.
They can setup the autopay through their bank. Costs neither of you a penny.
They will have set it up and let them know that USPS can be delayed so they need to calculate that time frame into the day the money needs to be there. We have a couple of bill pay tenants and their rent is usually at our office on time. But theta has to do with them setting it up that way to avoid late fees.
Our tenants are signing their 3rd year lease with us next month. They've asked if we can set up automatic bill pay for their rent. What are the different services that exist for no fee or only a small fee? We bank at a different institution than they do. Thank you for any advice you can offer.
You don't set it up, they do via their own bank. They should have an option for 'bill pay' in their online banking account to set it up there. You will still get a check like you always have however, it will be a computer printed check mailed from their bank once they set it up.
They will have set it up and let them know that USPS can be delayed so they need to calculate that time frame into the day the money needs to be there. We have a couple of bill pay tenants and their rent is usually at our office on time. But theta has to do with them setting it up that way to avoid late fees.
WRONG Courts have already dismantled this. As long as the user pressed the button on the 1st and you agreed to accept autopay no late fees can be added..
That why landlords the use those rent payment sites like rental payment and etc They dont get the money until like 15 days after the 1st even when the tenant actually paid online through the site on the 1st
WRONG Courts have already dismantled this. As long as the user pressed the button on the 1st and you agreed to accept autopay no late fees can be added..
That why landlords the use those rent payment sites like rental payment and etc They dont get the money until like 15 days after the 1st even when the tenant actually paid online through the site on the 1st
Clarification:
What the courts have said is that if the landlord is the one who has established a bill payment system and the landlord is the one initiating the payment, any issues (other than insufficient funds to cover the debt) is on the landlord and not the tenant. It is not considered late, so no late fees can be charged.
If the tenant is the one pushing the payment to the landlord, they still have an obligation to pay when due. They can still be charged with late fees unless any payment problem is the result of the landlord or the landlord's financial institution.
WRONG Courts have already dismantled this. As long as the user pressed the button on the 1st and you agreed to accept autopay no late fees can be added..
That why landlords the use those rent payment sites like rental payment and etc They dont get the money until like 15 days after the 1st even when the tenant actually paid online through the site on the 1st
I would be interested to see a case supporting your claim. I know you are wrong on this one but I would like to see where you are getting this nonsense from.
If the bank failed to send the check out due to their own failings then I am sure they would be willing to pay the late fees back to the tenant but the tenant still owes the late fee to the landlord. Those sites are a terrible example to support your claim though because it is part of the agreement between the site and the landlord to work this way and has nothing to do with the tenant. If the tenant paid using that site late then he again owes late fees to the landlord.
Clarification:
What the courts have said is that if the landlord is the one who has established a bill payment system and the landlord is the one initiating the payment, any issues (other than insufficient funds to cover the debt) is on the landlord and not the tenant. It is not considered late, so no late fees can be charged.
If the tenant is the one pushing the payment to the landlord, they still have an obligation to pay when due. They can still be charged with late fees unless any payment problem is the result of the landlord or the landlord's financial institution.
There are some variations based on each state.
Quote:
Originally Posted by AZ Manager
I would be interested to see a case supporting your claim. I know you are wrong on this one but I would like to see where you are getting this nonsense from.
If the bank failed to send the check out due to their own failings then I am sure they would be willing to pay the late fees back to the tenant but the tenant still owes the late fee to the landlord. Those sites are a terrible example to support your claim though because it is part of the agreement between the site and the landlord to work this way and has nothing to do with the tenant. If the tenant paid using that site late then he again owes late fees to the landlord.
Its like a check, when you hand a check over its just that a check. Bill pay is the same thing except a electronic check. usually it takes 2-3 days to hit the LL account. As long as a tenant hit the button on the first then the tenant is clear since the LL chose to accept this payment method and it was mutually agreed upon
its also like paying your bills online or your car payment electronically. If its due on the first and you pay via their website electronic check they will not get the money right away but it is also considered paid and no late fees will be added
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