How does a Landlord know if they should accept Electronic Payments for rent? The check has become an outdated form of payment. There are many options available with today’s technology.
The most popular form of payment seems to come in the form of direct rent deposits. This can be done by Direct Deposits into the Landlords account or Automatic Withdrawal from the tenant’s bank account.
There can be some risks, but it very convenient, especially for out-of-town Landlords. Here are a few of the many forms of electronic payments landlords may want to consider accepting.
Other than the tenant not having sufficient funds in their account or funds available on their credit card, there is little risk to the Landlord. It decreases