I just heard of Rent Manager being able to have an add on feature that will allow people to have their rents directly debited from their account - no more waiting 3 days to see if it clears. Also I hear there are companies you can contract that will do the same thing. Is anyone using this, or does anyone have a comment about the service?
Thanks, Jag
There are other companies doing it, and you can check for “direct rent deposit” under Landlord services in “www.mrlandlord.com”.
While service charges had come down in recent years, I don’t know whether I can sell many of my tenants on the idea. Of course, you don’t know till you try.
In my business, I have many services looking to deduct directly from my checking account citing the convenience. I’ve been saying no as I’ll lose control over payment of my bills.
I was a project manager in a large company some years back where we were implementing something called “ACH Debits”, which would allow us to deduct recurring bills from customer’s checking accounts. Most of out customer did not go along with it for the precise reason I myself don’t like it, lost of control.
Having said that, my mortgages are paid electronically, and to say the least, it’s quite convenient.
I kind of like that idea