OfflineI want to share that I started accepting rent online about 3 months ago using http://www.payrentchex.com Since then I have monitored it very closely to see if it is efficient for my company and staff. It is inexpensive but I wanted to make sure it was a benefit. The system has cut our paper use in half. We receive half the checks we used to get and we are not sending many paper notices/invoices any longer. My property managers have had less and less in arrears. They have collected more late fees because residents pay the late fee online instead of in person. This has been a huge success story for my company. I look forward to sharing more info when it comes along
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That's exciting! For years I've been using the auto bank deposit or tenants go to the bank themselves, but with the growth in identity theft and fraud, I have been interested in an alternative.
Thanx Marcia!
Next, I am interested in finding an automated system or at least a proficient, sleek system for handling the pursuit of deadbeat and cheating (mainly escape artist) tenants . Any ideas or knowledge of sorts anyone ?
Best Regards,
Anita
(Licensed Realtor-Military Vet-9/11Vet)
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A self-directed realization for 2014 is to:
Live life as if always on vacation and have all the good health, time, & wealth to enjoy it.
Work, only when and IF desired. Helping others do the same. It Pay$ To Connect!
Always In Gratitude.....
MxChica,
Thank you!
I looked into auto bank deposits, and I steered away from it because I did not want my residents having my bank account information/routing numbers. It also did not organize my payments in a way to make it easy to correlated with my accounting software. PayRentChex is a benefit for the residents but is controlled by a property manager or someone in the company. It is very secure and a great tool when managing properties. And it integrates with my software, all the manager does is import an excel file to the software, which is automatically generated and emailed to her from PayRentChex every morning.
The bank info is easy to get and mis -use more these days because every time we write a check it's out there. Secure is better. Any ideas about the other details?
Thanx for your help!
Best Regards,
Anita
(Licensed Realtor-Military Vet-9/11Vet)
****
A self-directed realization for 2014 is to:
Live life as if always on vacation and have all the good health, time, & wealth to enjoy it.
Work, only when and IF desired. Helping others do the same. It Pay$ To Connect!
Always In Gratitude.....
Thanks for sharing MarciaMarc!
Stephan Roberts
"In absence of clearly defined goals, we become strangely loyal to performing daily acts of trivia!"
Here is a FREE property analyzer I've found:
https://tvallc.infusionsoft.com/go/RehabLite/sroberts/
It's a great tool to use to help analyze your deals (and did I mention it's FREE)! But, you really should spend the $97 and get the full premium edition! IT'S AWESOME!!
MxChica, what other details are you talking about? I'd love to share any information I have!
Thank you saroberts69! Do you have any experience in this area?
Thank you for sharing MarciaMarc
I fully support working smarter and more efficient. There is always a little give and take but using a company like http://www.payrentchex.com. The bottomline here is to find what works for you and use that system. You need to be comfortable with the security of the system that you are using. Remember that time is money and if you can work a system that will cut down on the paper and hours, then that frees up time to do more deals!
Good Luck!
Karen
KEEP MOVING FORWARD
"If it is important to you, you will find a way. If not, you'll find an excuse."
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