Collecting rents online?

[ProfessorSpeed]

I'm looking to automate the monthly bookkeeping tasks as much as possible. Does anyone collect rents online? This could be a website that you created yourself or a subscription to one of the many online services.

1) What website are you using and are you happy with the services provided?
2) Did you notice a difference in on time rent payments when payment via credit card is accepted (rather than cash/check)?
3) Can rent information be imported to quicken or ms money or other business software? What software do you like?
4) How much do you pay for the online services?

 

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[PEERless]

I'll bet you could just have your tenants pay via PayPal. You can use it to send out a free invoice too with an easy link to pay you. And you can download all transactions to your accounting software.

 

[StreetsofSilver]

Some banks allow you to do this.

I set up a business bank account that gives the options to either ACH the tenants bank account or setup a webpage where the tenant can deposit the funds into your account via check, credit, debit. The tenants can only deposit funds not withdraw because they are given a different pin than you.

It only costs about $50 per month and is compatible with MS Money, Quicken, and Quickbooks.
I chose the ACH over the webpage because it takes the $ right out of the account on payday and is convenient for the tenants. The bank just made me have the tenants sign a waiver.

 

[andviv]

I think JesseO posted about a site, I can't recall the url now, but do a search here, you should be able to find it.

 

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[MJ DeMarco]

Nice idea - any industry with small, non-homogeneous business units is ripe for aggregation.

 

[PEERless]

PayPal

Really. And the invoices are a breeze to make. They have helped me collect cash from deadbeat debtor friends and roommates. And I intend to use it for my next tenant. I'll let you know how it goes.