Renter's payment

Meganm31
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I'm now the primary leaseholder at s rental property with roommates who will pay me through PayPal, which I will then pay with one check for the monthly rental. PayPal withholds the money so long that I will end up paying a penalty to property management. I'm guessing that PayPal will not be the best way to handle this kind of payment arrangement. Any advice out there on this?

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kernowlass
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@Meganm31 

 

For new sellers there is a 21 day hold but funds are released earlier if the seller can provide trackable proof of delivery.

But with friends / family it should be instant 'occasionally' you may get a 24 hour review.

As yours is not a sale of any sort your best bet would be to use the f.f. option in my opinion.


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kernowlass
Esteemed Advisor
Esteemed Advisor

@Meganm31 

 

Are they sending the funds to you via goods / services OR family / friends?


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Meganm31
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Contributor
Hi, thank you. I will have to check w them. I'm guessing there is a longer hold time for payments via goods and services, then, and that a much shorter turnaround would be the case e the other option?
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kernowlass
Esteemed Advisor
Esteemed Advisor

@Meganm31 

 

For new sellers there is a 21 day hold but funds are released earlier if the seller can provide trackable proof of delivery.

But with friends / family it should be instant 'occasionally' you may get a 24 hour review.

As yours is not a sale of any sort your best bet would be to use the f.f. option in my opinion.


Advice is voluntary.
Kudos / Solution appreciated.
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