Online rent collection

Today’s landlords, property managers, and renters expect everything to be convenient, simple, and fast. It’s very stressful for busy renters to keep up with bill payments, stand in line at banks, keep track, and make sure they’re not charged for insufficient funds. For this reason, it is essential to have an online payment system.

An online rent payment system will help ease your current payment and money transaction problems. Since tenants love using smartphone apps, most of them will be happy with this new service. It is time to review current rental payment systems and property management software that incorporates online payment.

Landlords who have not yet offered online rent payment to their tenants will realize the hidden benefits behind using online payment as part of an automated property management system.

Keeping companies competitive and profitable

Due to depreciating client property margins and growing portfolios, it is imperative that today’s property managers utilize the ideal digital property management technology so that they can sustain their income. It’s best to keep an eye on revenue erosion through property management functions or make paying rent simple and nearly invisible.

Cash flow disruption and late payments are among the issues facing homeowners, property managers, and investors. Better to be safe than sorry.

Online rent payment is best for investors and property managers who have properties in different countries, cities or states.

Processing checks manually or transferring them from one bank to another can create a number of problems. It can take more time, cost, and stress to go through banking time, processing periods, and currency exchange.

Benefits for Property Managers and Tenants

• Paying online reduces paperwork and maintenance.
• Many tenants prefer to pay online.
• There are several different ways to affect online payment.
• Tenants can pay at any time using any device.
• Once incorporated into property management software, online payment provides a single account, where payment history is easy to view.
• It is convenient to pay through Paypal or credit cards.
• Consolidate all types of payments.
• Schedule recurring payments.
• Payment processors can guarantee payments on time.
• Through a single app, residents who share rent can synchronize payments.
• Paying online has become an industry standard.
• Payment processors provide value-added services (such as mobile, online, smartphone, and SMS applications) that use popular payment methods (such as Paypal, credit card, debit card, and eCheck).
• It allows tenants to pay landlords and split the deposit directly into their account.
• Tenants who pay on time can connect with the credit bureau to boost their credit condition.
• It is easier to facilitate security deposits plus payment of the previous month’s rent check.
• Save time for property owners/managers as they no longer have to go to the bank.
• Minimize fees, arrears, late payments and running after tenants to get Payments
• Provides a software/app interview to view payments and cash flow.
• The payment status of tenants can be viewed in real time.
• The information to be included in the owner reports can be relied upon.
• It makes it easy to pay monthly utility bills and storage fees, among others.