Rent Collection
There are dozens of services to collect rent in US Dollars online, including Venmo, PayPal, Apartments.com (formerly Cozy), ZRent, and RentHelper. Or should you use Bitcoin? This presentation will explore these options and more.
We will start by reviewing the pros and cons of digital rent collection. For instance, digital rent collection has a big disadvantage: when you knock on a resident's door to collect rent in person, you can connect on a personal level and learn what's new and in need of attention. We'll discuss this and other things we've lost with moving online. But the advantages are numerous: less work, more traceability, and custom payment schedules, to name a few.
We will explain in-depth:
- Fundamentals of moving money over networks, including credit cards and ACH.
- Costs, risks, and effort required with various services like Venmo and PayPal.
- Which services leave the owner in control of collections during eviction proceedings
- What changes have occurred since Cozy was acquired by Apartments.com.
Attendees will leave with an understanding of how money moves in the US and where to learn more about various methods for collection.
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