Do your tenants pay by Direct Debit?
I'm setting up new rental business next week, and considering using Xero and GoCardless for tenant payments for ease.
Problem is I'm aware of the tenants ability to 'charge-back' a DD, and get it refunded to them. I'm worried that, say, a tenant could charge-back their last 2 years rent payments, close their account and go back to their country, leaving me high and dry.
Do any of you use DD's, and is this a risk in reality?
Want to read more?
This is a members only forum, if you want to read more you need to login to your membership, if you are not a member, click here to join.