Dallas-Fort Worth Real Estate Investor Club

New Cool Tool Alert! Landlords Receive Rent Payments Online from Your Tenants for FREE

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  • 04 Sep 2013 6:25 AM
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    Message # 1381281
    Deleted user
    The following is from their website:

    The new service is called RentShare
    https://rentshare.com/landlord#

    Accept Online Rent Payments at No Cost to You
    RentShare is the easiest way for landlords and property managers to accept credit cards and online rent payments.

    How It Works
    http://rentshare.com/about/how-pay-rent-online

    RentShare is a tool for the tenants.
    We give your tenants the ability to pay their rent online with a credit card or bank account by processing their online payment and delivering the check to you.

    -Greg

    Greg Wilson
    The REI Mentor
  • 04 Sep 2013 1:05 PM
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    Reply # 1381638 on 1381281
    Deleted user
    Greg,

    Thank you for sharing. I have seen them before. Do you know anyone that has used RentShare? I'm cautious outsourcing $ collection. 

    FYI: I have a large number of tenants that don't have checking account or credit cards. PayNearMe.com is another free service that allows tenants to pay at all 7-Elevens and Ace Cash Check Cashing.
     
  • 04 Sep 2013 8:28 PM
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    Reply # 1381949 on 1381281
    Deleted user
    I have not. Was hoping someone here had and could give me the 411 on them.

    I've heard good things about 7/11's program, but have not used it yet either.

    Most management companies I know use property management software that has a processing gateway portal built in. From what I've been told, online payment by renters now accounts for 65-90% of the payments being made.

    Is that what you are seeing?

    -Greg

    Greg Wilson
    The REI Mentor
  • 05 Sep 2013 11:22 AM
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    Reply # 1382481 on 1381281
    Deleted user
    we have around 90% of our single family tenants drop rent payment into a wells fargo deposit account. All they have to do is label their address on the deposit slip. We are adding the paynearme option because it's even easier for our "less disciplined" tenants. I can provide the tenants with a keychain with a barcode on it that can be scanned at the ace check cashing stores and 7-11. 
  • 06 Sep 2013 9:18 AM
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    Reply # 1383094 on 1381281
    Deleted user
    We prefer using the Chase quickpay system which allows tenants to deposit into our account with just an email address. 
  • 06 Sep 2013 10:04 AM
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    Reply # 1383135 on 1381281
    Robin Carriger (Administrator)

    We use Chase QuickPay too.  It's very convenient.  For tenants who don't have a computer, Chase has deposit-only debit cards.  This allows them to deposit rent in cash, check, or money order at any Chase branch or ATM.
  • 07 Sep 2013 5:46 AM
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    Reply # 1383691 on 1381281
    Tim Cook
    We have been using Intuit PaymentNetwork for about a year and it works great.  it does cost me .50 a transaction but it's secure, has an option for customers to use credit cards (with a small fee), can set up auto payments, can resend if necessary, and most people are comfortable with the Intuit name. 
  • 09 Sep 2013 9:08 AM
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    Reply # 1384812 on 1381281
    Bob Jones
    Great information! We are wanting to get away from picking up checks at the PO Box, but did not know which direction to go. Can you recommend a property management software program? Bob J
  • 09 Sep 2013 11:03 AM
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    Reply # 1384902 on 1381281
    Deleted user
    For property management software we use Buildium. It works great but it does not have some of the bells and whistles that Appfolio has. We started using Buildium when we had just ~50 properties. But now that we have grown it makes sense to pay the premium for Appfolio. When I was looking a few years ago at programs I decided that less than 200 units Buildium is best. Over 200 go with Appfolio.

    Kyle McCaw
    McCaw Properties
  • 10 Sep 2013 8:55 AM
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    Reply # 1385657 on 1381281
    Bob Jones
    Kyle, Thanks for the suggestions. I will check out Buildium and Appfolio. Bob Jones
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