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Old 02-01-2013, 11:39 AM
 
41 posts, read 109,510 times
Reputation: 33

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I call my tenant on the 1st to see what time I can pick up the monthly rent and either stop by the property or we meet at a local shop. We live about 10 minutes away from each other which is not bad but it's still inconvenient for me to have to call them, and then drive to meet them to pick up the money orders.

How do you (LL's) collect the rent from your tenant(s)?

I don't think they're computer saavy so paying online (like paypal) would not be an option.

Any helpful suggestions are welcome. Thanks!
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Old 02-01-2013, 11:45 AM
 
2,091 posts, read 6,706,569 times
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I expect my tenant to mail it a couple of days before its due. This has worked well for decades for most landlords. Mine chose to send a postal money order, this is fine with me, they have the money order receipt as proof they had one and if the mail goes missing they have recourse to get the money back from the post office as you can do that with an unredeemed money order.

Any normal responsible adult should be able to get off their duff and mail the rent. How you accept payment should be written in the lease. I don't take cash, I'm not driving out of my way to get it from you. Its the tenants responsibility to pay me. I already provided a nice rental.
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Old 02-01-2013, 11:50 AM
 
2,091 posts, read 6,706,569 times
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Another option which other landlords around me use is to set up a separate account at the very nearest bank to the rental, and provide the tenant with deposit slips. This may work well if a bank is very very close. My rental has 3 within 1/4 of a mile, but I don't want to open new accounts at any of them. However my normal bank is opening a branch right there too in the coming year, so in the future it will be an option for me to let a tenant deposit right into my business account. I can check online to see that the rent is there.
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Old 02-01-2013, 11:52 AM
Status: "Bartlet, er Biden, for America!" (set 9 days ago)
 
Location: The Triad (NC)
31,215 posts, read 68,651,092 times
Reputation: 37097
Quote:
Originally Posted by JenJen2011 View Post
I call my tenant...
The method shouldn't need a month by month confirmation of protocol.

Set what standard meet's your need/convenience... and you KNOW the tenant can (will) comply with.
First weekday of the new month, at XX o'clock, at such and such location. PERIOD.

If they can't (or won't) comply it then is on them to call you and explain.
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Old 02-01-2013, 11:57 AM
 
2,091 posts, read 6,706,569 times
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Yeah agreed. You should never never never have to chase your tenant to get the rent. If its late, its on them, its their responsibility to take the chance of getting evicted, paying late fees etc.
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Old 02-01-2013, 11:58 AM
 
41 posts, read 109,510 times
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Thank you!! Very, very helpful!! I'll be changing the way I do this ASAP!
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Old 02-01-2013, 12:28 PM
 
912 posts, read 4,659,248 times
Reputation: 2032
If they can't be bothered to sign a check, stuff it in an envelope with a stamp on it, and either dropping it off at a mail-box or hand it to the mail-man, I think you have a bigger problem than just the inconvenience of collecting.
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Old 02-01-2013, 12:29 PM
Status: "The Anti-Christ will be sworn in January 2020" (set 1 day ago)
 
7,350 posts, read 6,714,325 times
Reputation: 6707
it is the tenants responsibility, they will HAVE to find a way to do it, stop babying them! and dont feel bad about it either!
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Old 02-01-2013, 12:36 PM
 
Location: South Jersey
819 posts, read 2,978,796 times
Reputation: 1444
When I rented, the LL would never give us their address. So they cut a slot in the garage door and just told us to drop it in there and they would come pick it up. There were coming from DE, so that made no sense to me. But hey, if they want to waste gas. Oh and sometimes they wouldn't show up for 2 weeks.
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Old 02-01-2013, 12:43 PM
 
Location: Simmering in DFW
6,954 posts, read 20,568,731 times
Reputation: 7228
They can mail it, drop it off or they can deposit it with the deposit slips I provide. They need to get it to me by due date or it's late. Each property has a Wells Fargo account. There's a WF store on practically every major cross section in our area. I get an email from the bank when a deposit is made (an online setting) and I immediately email each tenant to confirm receipt when I get my email.
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