Landlord Bees: opinions on taking PayPal for rent?

posted 10 months ago in Legal
Post # 16
Member
9765 posts
Buzzing Beekeeper
  • Wedding: September 2015

Maybe he wants to be able to pay via CC… as a landlord myself though, this is a no for me. Check or direct transfer only. Maybe he can PP one of his roommates who can then pay you both portions. His problem to figure out!

Post # 17
Member
4811 posts
Honey bee
  • Wedding: December 2014

smoocheepoo :  You’re welcome! Cozy seemed to work well for us, we never had any issues with it as renters. 

Post # 18
Member
2039 posts
Buzzing bee
  • Wedding: June 2017

smoocheepoo :  i’ve taken paypal from tenants before – it’s never been a problem. if they choose to use paypal, require thm to send it as “friends and family” or a “gift” – in these cases, it’s impossible for them to dispute the chrage with paypal. i’d also require the tenant to pay a few days early, so that the paypal *clears* by the first of the month.

Post # 19
Member
1215 posts
Bumble bee

I once paid a former landlady with paypal, because she was out of the country and it was the easiest way to pay for some reason at the time (before Venmo). I think I had to select friends and family or gift, and I also think I had to agree to accept a small fee so that she didn’t get the fee. I’d also been living there a few years and knew her well and had always paid rent on time, so she knew I was good for it. 

But honestly, why can’t he just create the account at your bank? Or do an electronic payment deposited into your account through his own bank? I can see agreeing to an alternate method for the first month if it’s a hassle to set up perhaps, but overall setting up an account doens’t seem like a big deal. 

Post # 20
Member
7170 posts
Busy Beekeeper
  • Wedding: October 2014

Landlord here. I would not take any electronic forms of payment because you can’t decline them in the same way you can send a check back or personally refuse to accept cash; so if you have a tenant that gets behind on the rent, they can send you a partial payment (even $1) and that may reset the clock on their arrears date/ last payment date, which may in turn delay the point at which you can evict them. Check your local landlord/tenant laws 

Post # 21
Member
291 posts
Helper bee

Use paypal but only accept friends and family transations 

Post # 22
Member
482 posts
Helper bee
  • Wedding: July 2017 - State Park

I paid rent for years via paypal – just make sure he’s “sending money to friends and family” so there aren’t fees. It’s available immediately in your paypal account if you want to use it there or will take a business day or two to transfer to your bank if you want (not different from waiting for a personal check to clear). You have an electronic record of rent payment, and so does he. I’m not sure what the issue is with using paypal at all. 

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