Anyone know why landlords don't permit rent on a credit card?

[tvguy]

a PP brought up the fact of renters not having to pay rent for a time when covid was starting out
just thought but what did the owner get out of it if they had a morgage Im sure they still had to pay it correct

or did just lose out on all the rent they were entitled too

For some landlords, yes. But there were a number of Government programs to help renters pay their rent during covid, and to help landlords pay their mortgage.
But I have been surprised how many landlords own their properties free and clear.
One company owns over 1800 rental houses here in Sacramento, a total of 10,000 in California, and I believe they paid cash for each one. https://sacramentoappraisalblog.com...wns-9000-homes-in-california-interactive-map/

 

[barkley]

a PP brought up the fact of renters not having to pay rent for a time when covid was starting out
just thought but what did the owner get out of it if they had a morgage Im sure they still had to pay it correct

or did just lose out on all the rent they were entitled too

there's still major fallout going on here from that. when the covid non payment eviction rules were lifted the courts here were overwhelmed with cases so new eviction rules were enacted that require a two step program including a mediation process to give the renter a chance to make payments without penalty to make up for the unpaid rent (landlords were begging tenants to avail themselves of certain government programs but many report their tenants said it was 'too much of a hassle' and not facing eviction just ignored paying).

there are 17-19 specific months that are impacted by these laws. landlords still had to pay their own mortgages or at least the property taxes and insurance (and most pay for water b/c if a tenant does not pay a lein goes against the property owner so the water can stay on for fire safety). if a tenant fails on repayment it involves a separate process so there can be an eviction process for current non payment and another for monies now dating back 4 and 1/2 years (feb 2020). one eviction basis can be approved but the other blocks it from being enacted.


if feel for the landlords who are being held hostage by this.

 

[princesscinderella]

I think it is still in a state of flux. My wife bought a headstone for a relative's grave and the headstone company took a credit card, but the representative said they soon won't take credit cards. They will be shifting to a company that will finance those purchases for their customers. Sort of like what all the mattress and furniture stores do with their "no interest for a year" deals. They sign you up with a lender (often Synchrony Bank) who agrees not to charge interest for a year, but hopes you take longer than a year to pay off the balance so you start paying interest. With the credit card, the merchant ends up paying the fee, with this arrangement, the lender ends up paying the merchant a fee for signing up people.

We offer care credit with synchrony bank in our dental office and in no way are we paid by synchrony for offering the no interest for a certain period of time financing. We actually pay more in processing fees to offer the no interest financing. It’s an incentive/way to get people who can’t afford to pay outright for their treatment to have the ability to get what they need done and typically they have not great credit. We pay 9.9% on the total amount charged to offer the 12 months no interest plan. It’s about getting the money up front with these products and letting the lender chase the payments. No we don’t raise the price if you pay with care credit it’s just baked in to the cost of doing business. It’s still cheaper than dealing with the collections process. It makes no sense that they would transition to not taking credit cards and only offering no interest financing programs, someone is always paying the interest to the bank and they are never paying the merchant.

 

[tvguy]

We offer care credit with synchrony bank in our dental office and in no way are we paid by synchrony for offering the no interest for a certain period of time financing. We actually pay more in processing fees to offer the no interest financing. It’s an incentive/way to get people who can’t afford to pay outright for their treatment to have the ability to get what they need done and typically they have not great credit. We pay 9.9% on the total amount charged to offer the 12 months no interest plan. It’s about getting the money up front with these products and letting the lender chase the payments. No we don’t raise the price if you pay with care credit it’s just baked in to the cost of doing business. It’s still cheaper than dealing with the collections process. It makes no sense that they would transition to not taking credit cards and only offering no interest financing programs, someone is always paying the interest to the bank and they are never paying the merchant.

My Dentist offers 15% off for cash/check payments to patients with no insurance. My previous Dentist did the same.

 

[obsesseddisneyfan]

Change takes time. I am a landlord and because of https://www.biltrewards.com/card my husband asked if they wanted to use a card so they could start saving for a down payment. We like our tenants and want them to buy a house and move out......

 

[princesscinderella]

My Dentist offers 15% off for cash/check payments to patients with no insurance. My previous Dentist did the same.

A lot of medical professionals do that because it’s still more money than the insurance reimbursement in-network fees they agree to for the same procedures and a lot less work for the staff. Insurance processing takes so much time and energy as they deny treatment all the time just so they don’t have to pay out that month and make you send in “more information” when you already sent it in the first time. That’s totally different than your statement that a merchant is getting paid by a lending company to offer no interest plans.

 

[focusondisney]

I’ve never had a dentist or any medical office offer a discount for paying cash.

 

[barkley]

I’ve never had a dentist or any medical office offer a discount for paying cash.

most medical and dental providers in our region won't accept cash or a personal check at their offices. in person payments can only be made via debit or credit card.

 

[QueenIsabella]

most medical and dental providers in our region won't accept cash or a personal check at their offices. in person payments can only be made via debit or credit card.

Here, there was a discount for cash/debit card, but I think it was only 3%. It only came into play for my kids' wisdom teeth removal, not for regular cleanings. I don't know about cavities--we rarely have those in this house (just lucky--I'd love to tell you about our fantastic oral hygiene, but it would be a lie. I mean, we brush and floss and all, but nothing wild.).

 

[tvguy]

most medical and dental providers in our region won't accept cash or a personal check at their offices. in person payments can only be made via debit or credit card.

If the patient is using Medicare, the Doctor by law is required to accept cash or check under their terms of service set by Medicare.