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Comment by leknarf | Hacker News Reader

Online rent payment. Rent and taxes are my only regular expenses that aren't automatically deducted from my credit card or bank account. And even the IRS accepts online (albeit manual) payments. In fact, rent is the only reason I have a paper checkbook at all.

It's an easy win on both sides. In exchange for letting me schedule automatic payments, my landlord could get much more timely payments. I think I'm reasonably responsible as folks go, but still occasionally forget to mail a check on time.

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I have six rental properties as a landlord and I use Bank of America small business accounts which have an email payment system using ACH. The tenant receives an automated email invoice and can pay the invoice by ACH with a few clicks after a one-time setup. I receive an email from the bank when they have paid. It's completely paperless. No other bank was offering this at the time I set it up a few years ago. It's been working great except for the few luddite tenants who can't seem to get the simple setup to work. For them, I have them send a check to a B of A PO box and the bank processes the check for me.

That's interesting about the payment processing. Does BOFA charge a lot for this?

Do you think it could also work for a property management company collecting HOA fees from a few hundred homes?

The cost is $15 per month for one account, but you can add other accounts for free if you keep a min bal of $3k. And you can manage all accounts on one page of their website. It can be used by any business, including an HOA.

FWIW, I recommend www.rentshare.com for this.

I use them to pay and receive rent (I'm a landlord and I rent my residence).

Additionally, whenever landlords who use Rocket Lease (my rental application company) inquire about rent payment online, I typically recommend Rent Share.

They'll even accept electronic payment from the tenant and mail a paper check to the landlord on your behalf, so if you want to have it autodrafted for your rent, you don't even require landlord opt in.

My landlord uses PayLease. It lets me setup autopay and stuff. $2 per payment, not too bad. Just low enough where I use it instead of mailing a check. If you use a credit card you pay something just over 1% of the payment, which almost cancels out sorta if you have a 1% cash back credit card.

Rent payment companies are a dime a dozen. The problem is no one wants to pay to process a rent payment (landlord or renter) and renters appreciate the control they have in writing a check each month.

Plus, your bank probably offers free bill payment. Have you checked that out?

What control does a renter really have? If you don't pay your rent on time, you're going to have a bad time.

Have you thought about opening an account with a bank or credit union that will automatically cut and mail a check on your behalf?

If you haven't, you really, really, should. Finding such an institution is life changing.

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