Hi does anyone know of a website for renters to pay rent that meets these 3 criteria?
- Does not allow tenants to make partial payments
- Less than $3 per transaction for ACH bank transfers
- Trust worthy and reliable with low subscription fee
@scorpio1985 I can’t say I’ve tested it against those three criteria, but I think most of the well-known platforms will work for this.
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- can choose to allow partial payments or not
- $3/transaction - landlord can decide if tenant pays whole amount, landlord pays whole amount, or split 50/50 between tenant and landlord (we split to help incentivize our tenants to do online rent payments)
- no monthly subscription fees
Other nice features:
- allows tenant to setup automatic recurring monthly payment if they want so they don’t have to manually submit payment each month
- can set to automatically send reminder email to tenant before rent is due and another reminder if they haven’t paid by due date
- can set to automatically add late fees if rent isn’t paid on time
- tenant can choose to have their rent payments reported to credit bureaus to help build their credit
I suppose the only downside is the amount of time it takes for the rent payment to hit my bank account. Depending on where the 1st falls relative to weekends, it can sometimes be the 8th before an on time rent payment hits my account. Personally, I don’t mind considering there isn’t a monthly fee and it’s easy for my tenants to use.
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@scorpio1985 , I’m using Rentler.com to accept payment on land I’ve sold with owner financing. One of the payments I’m receiving monthly is north of $4k, using ach and no fees. So far, so good. I was turned on to it by a lady doing the same thing in TX with dozens of notes and accepting payments this way also. The service is free if you don’t use all the other options they offer.
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