Sweet! I would guess a lot more than you think have bank accounts and/or pre-paid debit cards - and almost all, even those who are 50+ and on disability social security - have smart phones. So they can use the payment apps and they love 'em. When you see how many hours per month you save from electronic payments you’ll never go back. The resident gets an app on their phone, sets it up only once.
After that boom - money shows up in your bank, your accounting payment entry is completely updated for you so your books are up to date. No meeting the resident, no manual data entry on your end (no mistakes), no losing the money order, no trips to the bank. You’ll feel so empowered you’ll realize you could run 1,000 units this way all by yourself. The residents love it 'cause they can look up their own balance and statement any time and they have no anxiety about what they owe. Software sends them auto reminders to pay. You can lock them out of the app if they are being evicted so they can’t pay partially and “reset” the court clock etc.
See this example picture below - that’s a tenant ledger from this month. It was all “auto populated” - ie i did zero data entry. The monthly municipal parking tax charge posted automatically, then the late fee posted automatically 'cause she was late - then when she logged in on her phone she saw her total balance due, she paid on her phone and the payment showed up in her ledger on my end with its unique I.D. - and the balance was always up to date with no effort on my part. Rentec Direct I can’t recommend enough for small landlords 'cause their service is off the charts good, and their prices are low.