Landlord Question and Answer Forum

Hi. I'm thinking of using Rentmatic or some other online rent payment utility to handle rents. I was wondering if anyone can comment on use of these (pluses and minuses), success stories or gotchas, etc. Also, what info goes into a lease to ensure a tenant makes use of the system? Thanks for any info.

I have never used a company, as the more people involved, the less bottom line. However, I am sure some people prefer that as its less work/worry for the landlord. I have used automatic withdrawl though, and thats nice!

Posted by karen s, WI on Monday, February 25, 2013

Thanks Karen. Would you mind sharing what the lease clause(s) read? I've been trying to find an example or two of actual clauses that folks use to have tenants make their payments in this fashion...

Posted by Charles K, CA on Monday, February 25, 2013

I didn't want to pay for a service or property management company to collect my rent. In the lease, I required them to open a bank account at my bank (B of A) and transfer the money to my account each month within 3 days of due date on the 1st. If they're late, they pay the late fee. It's easy to track for me and convenient for them as it's online and they don't have to go anywhere. No paper exchanged, no bounced checks, no pixie dust stories.

Posted by Polly R, CA on Monday, August 19, 2013