[quote=Hatfield]My tenants pay by paper check. For the last couple years I’ve been using MCFU’s mobile banking app to electronically deposit the rent check. Take a photo of the front and back of the check, and bam, done in under a minute.
I think having tenants do electronic deposit might look attractive if the rental unit was in a different city. Of if you had a whole bunch of rental units, though I suppose you’d still need to go through every month and figure out who’s paid and who hasn’t.[/quote]
My tenant uses bill pay and I get rent checks sent to my po box. And like Hatfield I use a mobile app to take a picture of it as a deposit.
The caveat is some banks limit how much the check can be for a deposit. So make sure your bank doesn’t cap the deposit below what your rent check is.
