Hassle free rent collection
In this episode I talk about the most hassle-free way I have discovered to collect rent. Now, this system most likely will not work for all your tenants but the ones that choose online it will be easier for you and them.
I use Sparkrent by intuit. This system has been super easy to set up and works well. Its also the cheapest I found. I recommend this service to a couple of friends and they are having great success with it also.
I looked into Clearnow and would have probable have used this service, but due to their high fees I chose Sparkrent instead.
Whichever system you choose an online payment system will make the monthly rent collection easy for you. When you are renting a property just insist that they tenants use it. You can send your existing tenants and email invite to switch over to the system also. I plan on slow transferring all my tenant to this system not that I have fully tested it.
Don’t be working harder than your tenants.
Let the tenants know your system. They bring it to you, mail it (po box) or pay online. The point is that you should not be chasing your tenants for the rent each month. Stand firm and enforce a late fee if they don’t pay on time.