It does make it easier to be nearby. We sold off in CA at the height of the market (units in the complex where we liquidated are still $30k below what we got) and nothing is nearby.
The ACH tranaction is the automatic debit/credit to checking or savings accounts. These can be reversed under rules very similar to the ones for credit cards.
BTW: CC transactions cannot be reversed if you show the issuer a signed authorization indicating when, how much and how many times the charges will be applied.
Does anyone offer online rental payment options for yheir tenants to pay rent and if you do what company do you use to perform this service for you and do you like this and how is it working out for you and your tenants. Did you have any problems in nsf? or any other probems ? thanks in advance
Actually, ACH transactions can be reversed the same way CC ones can. I build systems with these features back when I was a systems developer working for the likes of BofA, Wells Fargo and the like.
Posted by Frank Chin on June 11, 2007 at 15:26:00:
Rich:
Not sure about ACH reversals, but I wouldn’t go for any system where charges could be reversed.
Most of my rentals are nearby, so I make it a habit of picking up the check and inspecting the place at the same time, and bang on the door if the check is not in the rentbox.