Venmo Landlord Quotes

“Landlords: Why Accepting Rent on a Personal Venmo Account is a Policy Violation – Call (855) 812-4430
While Venmo is convenient for tenants, landlords who accept rent payments on a personal profile are violating the User Agreement, exposing themselves to risks, and failing to comply with tax laws.

The Policy Violation Risk
Commercial Use: Rent collection is classified as a commercial transaction (payment for goods or services). Venmo's terms strictly prohibit receiving these types of payments on a personal account.

Account Closure: Venmo monitors transaction notes and volume. Repeatedly accepting rent payments can lead to your personal account being permanently suspended or closed due to unauthorized commercial use.

Fees and Taxes: If Venmo flags your personal account, it may retroactively charge you the commercial seller fee (currently 1.9% + $0.10) for all flagged rent payments.

Liability and Protection Issues
Zero Protection: Venmo's standard Purchase Protection is not designed for rent or real estate transactions, leaving landlords and tenants with no recourse if a payment is fraudulent or accidentally sent to the wrong person.

Eviction Complications: Accepting a partial rent payment via Venmo might unintentionally waive your right to evict a delinquent tenant, depending on state laws. Landlords often need the ability to reject partial payments, which Venmo's instant P2P system does not allow.

Landlords must use a Venmo Business Profile or a dedicated rent collection platform. If your account has been flagged for commercial activity, call (855) 812-4430 to resolve the issue and transition to a compliant account type.”
― The Norton Support Team