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Never Accept Debit or Credit Cards for Rent Payments
Hey busy parents! In today's episode, we're diving into why you shouldn't accept credit or debit card payments for rent. I'll share a painful lesson learned from my own experience and explain the potential pitfalls. We initially thought accepting card payments through Hemlane was a great idea for tenant convenience. However, we faced a major issue when a tenant disputed a payment, leading to a loss of three months' rent. I'll break down the risks involved and why we've switched exclusively to ACH transfers. If you've faced similar challenges or have insights on ACH transactions, I'd love to hear from you.
Links Mentioned in this Episode:
- Products We Use
- The W2 Capitalist Community
Connect with Jay:
- YouTube
- Tweeting on X
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By Jay Helms
5
157157 ratings
Hey busy parents! In today's episode, we're diving into why you shouldn't accept credit or debit card payments for rent. I'll share a painful lesson learned from my own experience and explain the potential pitfalls. We initially thought accepting card payments through Hemlane was a great idea for tenant convenience. However, we faced a major issue when a tenant disputed a payment, leading to a loss of three months' rent. I'll break down the risks involved and why we've switched exclusively to ACH transfers. If you've faced similar challenges or have insights on ACH transactions, I'd love to hear from you.
Links Mentioned in this Episode:
- Products We Use
- The W2 Capitalist Community
Connect with Jay:
- YouTube
- Tweeting on X