monthly rent payment paid by tenants credit card - Posted by Erin (Detroit)

Posted by Tim Fierro (Tacoma, WA) on March 03, 2003 at 18:31:28:

The one thing that sticks out with this is that a tenant may at some point in the future try to get his credit card company to not honor a charge for some reason. I do not know if there are holes that can be covered using credit cards to protect yourself, but it might be something to at least look at.

monthly rent payment paid by tenants credit card - Posted by Erin (Detroit)

Posted by Erin (Detroit) on March 03, 2003 at 16:09:18:

Anyone had this work or look into this? I was wondering as I am looking into the cost of setting it up and was wondering if there were any legalities surrounding this method of payment or problems I may not be seeing. Any info is greatly appreceiated.

Thanks.

Erin

ClearNow - Posted by TRandle

Posted by TRandle on March 04, 2003 at 08:29:25:

Erin,
I use ClearNow.com for some of my tenants and think it’s great. It’s an automatic draft.

HTH

Re: monthly rent payment by credit card - Posted by Nate(DC)

Posted by Nate(DC) on March 04, 2003 at 01:29:22:

I agree with Don, the easiest way is to have the tenant use PayPal. Be aware that there may be an extra charge, which you will have to get the tenant to pay.
NT

Re: monthly rent payment paid by tenants cc - Posted by Don Dion

Posted by Don Dion on March 03, 2003 at 22:54:48:

Why set it up at all you can just use PayPal

Another method, perhaps - Posted by Mark - Seattle

Posted by Mark - Seattle on March 03, 2003 at 22:20:43:

You might also consider an automatic withdrawal from the tenant’s checking account. My gym payment is done this way. I know an investor who uses this method well with a local Seattle firm. I’m sure there are other investors and firms in your area that do the same thing. I would feel more comfortable with it coming from the checking account directly, rather than from a credit card.