I'm a tenant trying to be a good tenant. My landlord asked for Zelle payments. Happy to comply.
Problem: My rent is $1,900. Zelle limit is $500-$1,000/day depending on the bank.
First month, I had to send multiple payments over multiple days. I felt like I looked flaky. Last month I just paid the $25 wire transfer fee to send it all at once.
Landlords: How do you handle this? Do you get tenants sending you 3-4 separate Zelle payments? Does it matter to you? Is there a better solution I should suggest to my landlord?
Trying to make everyone's life easier here.
Landlords: How do you handle rent collection when Zelle has such low limits?
byu/Substantial-Film1861 inRealEstate
Posted by Substantial-Film1861
18 Comments
Zelle is for transferring money between family and close friends not for rent payments
You need to ask your bank about upping your limit. I paid for cabinets via Zelle and that was a $10K transaction.
Cash
I don’t use Zelle. You’re setting yourself up for partial rent payments using Zelle too…
We use the free Innago app for rent collection and service requests.
I use Zelle to collect rent and it’s fine. The first couple months they split into smaller payments and then the limit automatically increases so it can be done in a single payment.
I collect with Zelle and pay for my primary with Zelle . you can either ask for a limit increase or depending on the bank and frequency of payments to receiver, the limit will go up on it’s own. Communication is key. Most times it will show you the daily limit. If you’re worried about looking flaky, just send a quick screen shot and I’m sure they won’t mind 😄
I’m a tenant and we use Zillow. It’s free for both parties, they make money because it takes some time for the money to transfer around and they collect interest on that, amongst other ways. I was going to move to another place but after using Zillow for a couple years decided to stay in part because it’s so easy and convenient.
One place in particular wanted me to get cash from my bank, go to their bank and deposit it. And do that every month. I said I wouldn’t do that and turned that place down.
venmo. I receive $2000 from my tenant with no issues.
I pay my landlord through Zelle. Have been for nearly 8 years. Never ever had a problem from the time my rent was 850 to now at 1120.
Contact zelle. My limit is much higher. I think it is based on your average balance
TurboTenant is how I pay my landlord
Go to the bank, my tenant Zells me every Month
My tenant make his monthly $7400/month rent payment via Zelle; so there is no 100% HARD limit below this amount.
Apartments.com
RentRedi
Check out Chase. I opened an account there when I needed to send more than $1000. I had my pay direct deposited to the Chase account for 2 weeks and made $300 for my troubles.
Otherwise I say, as long as the final Zelle payment for rent is made by the due date you’re good.
Also don’t give a shit what the landlord thinks of you. They care about one thing, Money.
Talk to your bank because my rent was higher than yours even from the very first time I paid using Zelle (signed up for Zelle originally for the sole purpose of paying rent), and I didn’t run into any problems paying the entire rent in one go. And my landlord and I have different banks.