Rent Collection – Part V

Direct Deposit

Another way of collecting monthly rentals from your tenants is via the direct deposit system. Very useful, it saves the bother of waiting for the cheques to arrive, then having to deposit them, finally waiting for them to clear. While, there are direct deposit services designed for huge apartment complexes with fee structures that may be priced way out of a small fry landlord’s league, the CheckMan application is just what small-timers need. Sign up all new tenants on it stressing it is standard company policy, while coercing existing residents to join, as well.

A fantastic application, tenants will receive an email that notifies them of the coming draft, as it runs through the banks Automated Clearing House systems (ACH), so there is absolutely nothing a landlord has to do. Tenant accounts get debited automatically on a designated day, with an email sent to the landlord the very next day showing him / her accounts drafted successfully, including ones that failed, if any. Three days later, funds are automatically deposited into your account.

Tenants, who have signed up, are aware that their accounts are going to get drawn on like any other bank drafts, without the bother of writing any cheques / drafts on their part. The simplest of solutions, it is very affordable rent collecting to boot. Once you know about all the features and benefits of the application, you too will be singing praises of it. Look it up on the following website i.e. www.clearnow.com/public/ClearNowEnrollmentGRQ1.pdf, and if you sign on, you will get a full two months to try the service absolutely free of cost. No doubt, you’ll be hooked enough to go for it.

That apart, landlords should make themselves cognisant with all rules and regulations before drafting a lease, and must take all necessary precautions, such as, screening tenants and conducting background checks on prospective tenants, including ensuring all promises in the rental lease are adhered to, as their insurance for a litigation free landlord / tenant relationship. A simple click of the mouse and any landlord or property manager can visit www.e-renter.com for tenant screening and background check services. www.e-renter.com, the best tenant screening agency in America!