Tenant Deposits


#1

Hello

We just closed on a Park and want to set things up for rent collection.

Last year at MHM they spoke about deposits from the renters using a MIN number.

Can someone help explain how to do this?

Basically we want the renters to deposit their rents directly at the bank and to have the ability to track online who has paid - when - how much.

Thanks so much!!

Steve


#2

Karl Kleiner posted about this on the creonline site. Do an archive search


#3

I tried a search there before and perhaps am not the most experienced searcher … will try again … if you have a link to it that would be greatly appreciated

Thank you

Steve


#4

I personally use a service called Clearnow. They have a website, and each month they deduct the tenants payment right from their bank account and deposit it in yours. They charge like 15 bucks for the first tenant and then 2 bucks each additional tenant.

The reason I like their service is that they do report the on time payments to all 3 credit bureaus, which can help your tenants rebuild their credit, and I can advertise that we can help rebuild their credit.


#5

Beck, do you have the contact info for that clearnow service. that sounds like a great idea. can the tenants pay by credit card to that service as well?

thanks

matt


#6

Matt,

The website is www.clearnow.com. I ran through the FAQ this morning and did not see anything about them using a credit card. I don’t think they do.


#7

Here you go, http://www.clearnow.com

One Big Flaw. They do not report to the credit companies that make a difference.

Post Edited (07-16-09 12:14)


#8

It is easier than above. Buy deposit slips from Deluxe or the like. Print the tenant’s name on the deposit slip. Have them pay at the bank with the deposit slip. View deposit slip image on line at your bank’s web site. For extra security, have them pay their lot number in cents. 200.24 for lot 24.

I use Quickbooks and and print out a combination deposit slip rent bill.