My slumlord experience is the reverse. I’d go to the bank and get cash. Then I’d cash the tenants pay checks at no extra cost to them. They appreciated that over the fees at the currency exchange. Of course, I always got my rent money out of the arrangement as the first in line for the paycheck.
That said, I’ve never lost a dime off the working poor. But off the welfare poor, whose checks were exactly the same amount, I’ve lost big time. I don’t rent to many of them anymore ... just 1 in the past 8 years ... and that one is the only one to stiff me in 8 years.