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ptag75

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Posts: 2
Reply with quote  #1 
Has anyone else signed up with this site? I did a couple of months ago and started with one of my properties. Now I have all seven units on there. It actually is great, because it handles rent collection and auto late fees etc. 

Also, it's cheap. There aren't any fees yet due some extended promotion... they say once they start charging people, it'll be $3 per rent transaction. I like it. It's intuitive and you get the money in about 4 days, which is about the same as Paypal.

The site name is rentific.com 


foodonthego

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Posts: 8
Reply with quote  #2 
what is the best way to collect rent on online...............
ptag75

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Posts: 2
Reply with quote  #3 
The best way for me was to use rentific.com. I love it because it's easy and my tenants actually prefer it.
foodonthego

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Posts: 8
Reply with quote  #4 
thank you i may try this.............
mike4ta

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Reply with quote  #5 
Another one that is very useful and has no monthly fees or up-front costs is https://therentalpay.com.  This may also be of interest.
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alexiscooper5

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Posts: 28
Reply with quote  #6 
Online rent collection is very common now a days. Its a very easy and fast way to collect rent. These is very easy because you don't got to the tenant home, just one click and your money in your account.
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Number21

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Posts: 75
Reply with quote  #7 
Quote:
Originally Posted by alexiscooper5
These is very easy because you don't got to the tenant home, just one click and your money in your account.


I suppose you haven't heard of this thing called "mail"? Believe it or not, for just a few cents, a man will pickup a check from your tenant and deliver it straight to your door! Even if you live across the country! Amazing!
NoNonsenseLandlord

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Posts: 178
Reply with quote  #8 
Quote:
Originally Posted by Number21
I suppose you haven't heard of this thing called "mail"? Believe it or not, for just a few cents, a man will pickup a check from your tenant and deliver it straight to your door! Even if you live across the country! Amazing!


The USPS mail works OK, but it is 2015 now.  USPS mail is obsolete.  Savvy landlords think outside the box.  Online collections are more common, even automatic ACH deductions such as this.  Paypal also works, which is free.  Some tenants use BillPay from their bank, which is a USPS derivative and is 100% free.  I even have some customers use direct deposit, initiated from their end.

The problem becomes when the bank processing gets delayed and late fees kick in.  Evicting a tenant over a mail issue can be tricky, how long do you wait for "The check is in the mail", without any proof it has been processed by a third party entity.

In the landlord business, which is customer service oriented, you take the money the easiest way a tenant can pay.  Whatever it is.  These days, rarely do people make out physical checks any more.



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Number21

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Reply with quote  #9 
Quote:
Originally Posted by CompleteNonsenseLandlord
The problem becomes when the bank processing gets delayed and late fees kick in.  Evicting a tenant over a mail issue can be tricky, how long do you wait for "The check is in the mail", without any proof it has been processed by a third party entity.

If your lease was any good it would not leave this open. You should specify when rent is due and how it gets paid, and what happens if it doesn't. Including the event of mail failure. A simple statement of "rent due on the first of the month, landlord not responsible for mail delivery errors" would solve that problem. Or require certified mail. It is up to the tenant to make sure the landlord receives it, not the other way around.

Quote:
Originally Posted by CompleteNonsenseLandlord
In the landlord business, which is customer service oriented, you take the money the easiest way a tenant can pay.

The problem is there are always fees involved if you are using anything but cash. That is fine, if the tenant wants to pay them, but it's up to them to choose if they want to or not.

And no, PayPal is not a free rent collection service. If you are receiving free money from tenants through the "family and friends" option, you are violating the TOS.
NoNonsenseLandlord

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Posts: 178
Reply with quote  #10 
Solid leases, including mine, all have verbiage indicating when rent is due.  Due means "in hand".  I need rent in my hand on the first.  On the 6th, it is late.  You do not have to list every contingency for late rent, such as mail (or rent being stolen, asteroid hits, or wild bears stealing the rent.)

The question and issue most landlords have is when to start evicting.  Evictions are expensive.  Do you evict on the 6th for a "Rent is in the mail" story?

If a tenant pays rent via PayPal, via "Friends and Family", no one except the tenant is violating the TOS.  They do it to avoid fees, which makes sense to me.  The tenant is also free to pay the additional fees.  If PayPal was really that concerned, they would have an algorithm to identify monthly payments.

I am sure you have used something like this to pay your rent yourself.  Based on your answers,  do not think you have ever collected rent from anyone, ever.

Keep reading, as I am sure you will.  It always helps to remind me what a subpar tenant's attitude can be.  It encourages me to continue to refine my tenant screening skills and avoid tenants such as yourself.

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Sunkist

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Posts: 9
Reply with quote  #11 
A question to the posters here who mentioned different companies and options:

Not long ago, the management company in charge decided to give tenants the option of paying rent online (not sure if I should mention the name of the company they're using), but when I asked what the service fee would be, nobody had the answer.  So I contacted them personally, and was told for each rent payment they process the service fee is $14.95.  Isn't that kind of excessive? 
bryant

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Posts: 15
Reply with quote  #12 
Thanks! I've never heard about this site before, but I would like to try it now. I have another question for you. Have you listed your property with rentberry.com? I wanted to post my apt there, but I want to get some feedback from other landlords first.  
nita90rayan

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Posts: 7
Reply with quote  #13 
Yeah, site are really great)
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BritneyR

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Reply with quote  #14 
Its always good to find a reliable and affordable service provider.
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