Tenant Monthly Payments...Tenant Deposits In MHP's Bank Account...Do You Do This?


  • “Does anyone currently have Tenants make their monthly Rent Deposits directly to your MHP Bank Account?”
  • “If yes, how is it working for you?”

So there are multiple previous posts on this Forum from 2008, 2009 and 2014 concerning Tenants making monthly Rent Deposits to their MHP’s Bank Account.

However, I was just curious if anyone currently does this.

We have Tenants mail their payments to our PO Box.

This has worked great.

However, just this month we have had 3 Tenants (all who live next to each other) say that they mailed their Money Orders to our PO Box.

Unfortunately, we did not receive any of these 3 Money Orders.

The Tenants did text us pictures of their Money Order Payment Stubs with the correct amounts on them and dated around the 1st.

One of the Tenants is asking for the future to deposit their Payments directly to our Bank Account.

I know that other MHP Owners have done this and it sounds like a great idea to me.

In fact one of the MHP Owners had the Tenants deposit a cent amount equal to their Lot #. Thus, for example Lot #36 would deposit $250.36 (if the Lot Amount was $250). Seems pretty clever to me.

I was just wondering if anyone who was currently doing this could give us some insight to the pros and cons.

Thanks in advance!

I do that and love the system here is how it looks

Rent is due on the 10th most pay on that day and the 11th was veterans day so the deposts weren’t made until the 12th but you can see the system.

My tenants can either deposit directly or give to th rent lady who I trust and collects for 80% of the people.
She saves the deposit slips when she deposits the money for my paper record and gives the tenants the deposit reciept as there proof of payment if an issue arises. All I have to do is go online and check and count my deposits. I can see who has or has not paid through that.

sorry if the picture is not good my fiancee is the computer savvy person not me.

It is simple and realistic for small portfolios. I think it can become troublesome with big parks with over 100lots or if you have one business account and several parks.

@Leegeee , thank you so very much for your responses!

We greatly appreciate it!

I can agree this is clever! I like it. For us, our manger collects all of the rent. He fills a sheet and deposits the money. I cross reference the checks/sheet against my rent roll. It’s slightly cumbersome so I can appreciate this system! Definitely interesting if your lots are under 100. I’ve seen this before on parks we’ve looked at. Never went far enough on any of them to know what it was for. Learn something new everyday here on the forum!

1 Like

I have done this for years. Write your contract so that rent is considered paid as of the date the bank shows it in your account. Otherwise, residents tell you they deposited it late in the night of the day it was due so that is why it didn’t post in time to your account in time. I simply tell them to pay the late fee and read their agreement. I almost never have to charge late payments - maybe 4 or 5 in an entire year.

1 Like

I agree with Charles. My manager collects the rent or it is deposited in a box in front of his house. He faxes to me the deposit slip and a sheet with everyone who paid. On day 6th anyone not paid by 9 AM gets 5 day notice. Then call attorney if irresponsible being chooses to avoid you.

In which case file eviction, file for loss of income, damages, filing fees and attorney fees. Include you will do this in your 5 day notice as well.

I dont like mailing system as they can come up with the famous excuse that its lost and they dont know what to do LOL

My tenants deposit to my account at the Chase bank in town. I can see their deposit slip online and record their deposit in my ledger. We annually provide each tenant 14 deposit slips pre-printed with their space # and my account number. Works very well. The only glitch is if they don’t use the slips I’ve provided, and they don’t put their space # on the slip they use.