Jump to content


Photo

Payment For Rent


  • Please log in to reply
10 replies to this topic

#1 mattd

mattd
  • Members
  • 4 posts

Posted 10 May 2010 - 02:15 PM

Our company rents out executive suites to a few different businesses and I'm looking for an inexpensive, but secure method for our tenants to be able to pay their monthly rent via credit card or by a bank draft.

Just looking for any suggestions. Most of the tenants can write a check and hand it over, but some have them mailed in which results in late payments, etc. We'd like the option for them to be able to pay online- without them having to pay large fees for the processing.

Any suggestions?

Thanks,
Matt

#2 TCH-Bruce

TCH-Bruce

    Volunteer Moderator

  • Members
  • PipPipPipPip
  • 19,960 posts

Posted 10 May 2010 - 02:23 PM

Welcome to the forums Matt :)

You will need a merchant account and a shopping cart program. Or you can use paypal. Check hotscripts.com I'm sure you will find something.

Bruce Richards
Forum Moderator
TotalChoice Hosting, Inc.
Webhosting by Total Choice Web Hosting - General Support Forum

I am a Forum Moderator. While I can assist in answering most of your hosting related questions, I am unable to answer questions about specifics relating to your account such as billing and server related issues. Should you need assistance in these areas, please contact our Help Desk or our many other options. Another good place to find answers is with our help pages, tutorials and movie tutorials.


#3 mattd

mattd
  • Members
  • 4 posts

Posted 10 May 2010 - 03:38 PM

I thought about Paypal- but the fees are quite high.
2.9% + 30 cents up to 3,000.

So one tenant pays 550 a month- that'd be $16.25 just to process it. That's awfully high.

I know this is completely different- but when I pay bills online (mortgage, car payment, etc) I don't have to pay more than if I were to write a check. Is there not a way to get around paying such high fees? It kind of defeats the purpose of it being a convenient payment method if it costs that much.

#4 mattd

mattd
  • Members
  • 4 posts

Posted 10 May 2010 - 03:41 PM

I just looked at a couple other payment methods- and even down to 1.19% is high.
One tenant of ours has 4 offices, and the rent is just shy of 4,000 a month. At 1.19% that'd be almost 50 bucks just to pay online.

Is there a way to have a direct bank draft? I may have to contact our bank directly to see if they have options, but I thought I'd check here since I'd like for them to be able to pay online through our website.

Thanks,
Matt

#5 TCH-Bruce

TCH-Bruce

    Volunteer Moderator

  • Members
  • PipPipPipPip
  • 19,960 posts

Posted 10 May 2010 - 04:25 PM

Well I really don't know how you can get around fees. I tend to pay my bills online through my bank not directly to the intended party.

Bruce Richards
Forum Moderator
TotalChoice Hosting, Inc.
Webhosting by Total Choice Web Hosting - General Support Forum

I am a Forum Moderator. While I can assist in answering most of your hosting related questions, I am unable to answer questions about specifics relating to your account such as billing and server related issues. Should you need assistance in these areas, please contact our Help Desk or our many other options. Another good place to find answers is with our help pages, tutorials and movie tutorials.


#6 TCH-Dick

TCH-Dick

    General Manager

  • Admins
  • PipPipPipPip
  • 5,786 posts

Posted 10 May 2010 - 04:31 PM

The fees to use Paypal or any other merchant services are charged to you the recipient not the payer.

Dick DeVance
General Manager
TotalChoice Hosting, Inc
dick@totalchoicehosting.com


Posted Image


#7 mattd

mattd
  • Members
  • 4 posts

Posted 10 May 2010 - 04:43 PM

The fees to use Paypal or any other merchant services are charged to you the recipient not the payer.


I realize this, but if there were fees involved we wouldn't pay them- they would. (We'd just add the fee on the invoice)

Hopefully the bank will have a solution for us with minimal fees.

#8 TCH-Thomas

TCH-Thomas

    Volunteer Moderator

  • Members
  • PipPipPipPip
  • 14,908 posts

Posted 11 May 2010 - 02:16 AM

Welcome to the forum, Matt. :thumbup1:

Thomas Jikrantz
Forum Moderator
TotalChoice Hosting, Inc.

Any links or suggestions for third party software/sites should be used at your own risk. My opinions and recommendations are not necessary those of TCH and TCH is not responsible.

As a Forum Moderator I can assist in answering many of your hosting related questions. However, I am unable to answer questions about specifics relating to your account such as billing and server related issues. Should you need assistance in these areas, please contact our Help Desk or our many other options. Another good place to find answers is with our help pages, tutorials and movie tutorials.
Web Hosting by Total Choice Web Hosting - 24/7 Help Desk


#9 joats984

joats984

    New To The Neighborhood

  • Members
  • Pip
  • 7 posts

Posted 24 June 2010 - 08:44 PM

I just looked at a couple other payment methods- and even down to 1.19% is high.
One tenant of ours has 4 offices, and the rent is just shy of 4,000 a month. At 1.19% that'd be almost 50 bucks just to pay online.

Is there a way to have a direct bank draft? I may have to contact our bank directly to see if they have options, but I thought I'd check here since I'd like for them to be able to pay online through our website.

Thanks,
Matt



Hi Matt~
This is a good question. I, too, would rather make money. I would like to suggest going to your bank and finding out about getting the payments deposited into your checking account, if possible. i.e.: direct deposit.
I know that renters prefer at times to use credit cards. There's little to do there, as there will always be merchant services charges. Do a search for 'merchant services' and you come up with a variety to choose from. Scanning just now, I found one for 1.09%, there're probably better out there. I'll be doing my own search soon. Good luck in your hunt.
jaci

#10 jnull

jnull

    Immediate Family

  • Members
  • PipPipPipPip
  • 246 posts

Posted 29 June 2010 - 01:23 PM

Difference between PayPal and a merchant account...

- a merchant account charges a monthly fee, and a transaction fee per transaction. The monthly fee is regardless of use. PayPal does not charge a monthly fee for online transactions.

- a merchant account will require you to have a SSL certificate. SSL security is included with PayPal


Just a couple other things to consider in the cost process. I find PayPal is the best route for low volume (say less than $5000 to $10000 a month) activity versus a merchant account.
LongviewNET, LLC
www.longviewnet.com

#11 joats984

joats984

    New To The Neighborhood

  • Members
  • Pip
  • 7 posts

Posted 29 June 2010 - 05:22 PM

Difference between PayPal and a merchant account...

- a merchant account charges a monthly fee, and a transaction fee per transaction. The monthly fee is regardless of use. PayPal does not charge a monthly fee for online transactions.

- a merchant account will require you to have a SSL certificate. SSL security is included with PayPal


Just a couple other things to consider in the cost process. I find PayPal is the best route for low volume (say less than $5000 to $10000 a month) activity versus a merchant account.


good points re: PayPal




0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users