Landlord Question and Answer Forum

I've recently had tenants sign the lease on my first rental property, so I am completely new at this. I used ezlandlord forms and included this document authorizing direct deposit to my account: https://www.ezlandlordforms.com/documents/22416/direct_deposit_billing_authorization/ They filled it out with all their information, but every bank I take it to tells me that I can't actually do what the form says it allows me to do, namely authorize my financial institution to regularly charge their account for the rent. They all say this has to be set up with the account of origin (the tenant), and that I have to give them my bank account and routing number. What then is the point of the ezlandlord form? What am I missing? I have accounts with BOA, Chase, and a local Credit Union. Same answer from each.

Hello, While this form does properly serve it's purpose with some financial institutions, many banks do require the use of their own form. Check and see what specificaly your bank requires.

Posted by Website Moderator , AL on Tuesday, March 26, 2013

Nicolas - Check out my company Rentmatic.com - it is super simple to set up either online or with forms. You can set up automatic payments with your tenants in just minutes. Let me know if you have any questions. - Justin

Posted by Justin S, CA on Saturday, March 30, 2013