Risks of using Zelle, Venmo, cash, or checks for rent payments

By Jonathan ForishaEvery landlord has a unique story and reasons for buying and renting out property. But beyond things like providing for their eventual retirement and providing someone a great place to live, the primary reason that any real estate investor rents out their property is to generate rental income.There are many methods for accepting rent payments, and each one comes with its own pros and cons. Here, TurboTenant breaks down the risks that a rental business may face when it accepts rent with Zelle, Venmo, cash, or checks.Risks of ZelleZelle markets itself as the best method for sending money to friends and family, and tenants may want to use it to send in monthly rent payments. Zelle works directly with banks, so its functionality depends on whether the& bank (or your tenant’s) accepts Zelle.If it does accept Zelle, each bank will still have limits on daily and monthly payments. These limits may be as low as $1,000 a day and $5,000 per month. If a tenant’s bank does not accept Zelle, then the limits are even more stringent, with a weekly send limit of just $500. According to a recent Apartment List report, the median rent in America is...