Has anyone used PayNearMe to collect rent?

If so, please review.

Other similar options?

Context: I have seven rental units, but three of those renters do not have bank accounts. All of them pay on time consistently, but without bank accounts I get money orders and my postal service has lost enough other mail that I am terrified that the money orders might go missing.

How do you have renters with no bank accounts?

IrishTxAggie said:

---

How do you have renters with no bank accounts?

---

They are in cash only businesses.......

ORAggieFan said:

---

IrishTxAggie said:

---

How do you have renters with no bank accounts?

---

They are in cash only businesses.......

---

I guess background checks were optional too then.

Western Union cash transfer, maybe?

But yeah, I feel your pain on the mail. My renter pays with Venmo because last thing I want is a check to get lost in the mail.

OP's renters are drug dealers and or illegals.

Collect the rent in person.

IrishTxAggie said:

---

How do you have renters with no bank accounts?

---

Uhhh, a significant percent of Texas residents are undocumented. As in no SS number, no DL, no bank account, etc.
They live on the cash system.

OP asking how to get his rent money, not an evaluation of his renters. Mf'ers pay the rent. Wgaf?

I know people that give renters an account number to deposit funds in a "rent collection" account at a local bank. If you are nervous of someone having the account number in the renter's hands you can put a debit block on your account to prevent money leaving the account where only you can then sweep the funds internally to another account at the same back. As some level of additional work and maybe some bank fees, but is a possible solution.

AgCPA95 said:

---

I know people that give renters an account number to deposit funds in a "rent collection" account at a local bank. If you are nervous of someone having the account number in the renter's hands you can put a debit block on your account to prevent money leaving the account where only you can then sweep the funds internally to another account at the same back. As some level of additional work and maybe some bank fees, but is a possible solution.

---

I wasn't aware this was available. Thanks! Will check it out at my banks.

Mas89 said:

---

IrishTxAggie said:

---

How do you have renters with no bank accounts?

---

Uhhh, a significant percent of Texas residents are undocumented. As in no SS number, no DL, no bank account, etc.
They live on the cash system.

---

Doesn't make it right. You are not a Texas resident. You're an illegal.

I use Cozy. Pretty user friendly and it has worked out perfectly so far.

Forgot to log back into your sock?

GarlandAg2012 said:

---

Forgot to log back into your sock?

---

That's what it looks like. LOL!

My Dad is a slum lord. Has somewhere around 15 properties and does very well.

I've helped him collect rent with a .45 on me. I have replaced dishwashers and garbage disposals because they put the aquarium rocks in the dishwasher. Doors, fencing, siding, windows, holes in sheetrock...

I only rent to professionals. I have fewer rentals, but fewer headaches.

I do this, we also have many tenants pay on Cozy

IrishTxAggie said:

---

How do you have renters with no bank accounts?

---

I employ several mechanics who have overdrafted a bank account years ago. About 3 years ago there was a centralized database of names of people who still owe overdraft fees at any bank shared among banks. These mechanics cannot even go to the bank that the payroll check is from to cash their checks. I even called the bank to complain.

These mechanics are not immigrants and are white. Getting exposed to people who make poor "financial" decisions has opened my eyes to why some people believe the system is setup against them.