Taking Rent Collection Online
If you’re holding back on using property management software and online rent payment processing, you’re holding your business back.
Too many landlords and property management companies still accept cash or paper checks from tenants to pay their rent. There are a lot of reasons why that is not optimal for you as a business trying to be viable in these turbulent times in 2020.
For tenants too, having to write out 12 checks per year is very annoying, and it suggests to them that the landlord is not progressive. And “not progressive” brings additional connotations about service level. Stats show that a large percentage (i.e., young renters) want digital services. Being digital is important to their comfort and lifestyle.
To find out more about ManageCasa’s automated rent payment solutions, please contact us or better yet, schedule a demo to discover all the features you’re not enjoying right now.
Today’s Renters Want to Pay Rent Online
Online rent payment is a big benefit. It’s one of the most sought after software features this year. And this is just one of the benefits of digital property management software for landlords, property managers, and HOA management companies.
Payment processors/gateways (such as Stripe) open a multitude of payment methods, including the favorites of renters. Renters may have diversified their money into different vehicles, and some may use a bank account, paypal, or even use credit cards for emergencies. The key is that online rent payment works flexibly for the tenant.
Ease Your Bottlenecks and Work Fatigue
Using a online rent payment system can help you ease your current payment and financial transaction issues. See the full list of payment providers below, including Stripe Payment System. There is a list of benefits of using a service, and you can learn the details of how ManageCasa has integrated Stripe technology.
Tenants love smartphone apps and most will greet your new service with a smile. Take the time now to investigate rent payment systems and modern property management software which integrate online payment: ManageCasa.
If you haven’t progressed to use online rent payment for your tenants, you’ll discover many hidden benefits in utilizing online payment as part of a more automated property management process.
Keeping Your Business Competitive and Cost-Effective
As client property margins slide and portfolios grow, modern property managers must utilize all the best property management digital technology to keep their own income assured. Your choice is to watch more of your own income eroded via administration or simplify rent payment and make workflow almost invisible.
Of all the concerns of property managers, investors, and landlords is disturbed cash flow, late payments, and persistent rent default. Prevention is better than the cure.
A good case for online rent payment is where property managers and investors have properties in a diverse array of countries, states or cities. Manual processing of checks or bank transfers creates worries for you. Bank hours, processing periods, and currency exchange can present delays, stress, and more cost.
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Clear Benefits of Automate Rent Payment
- paying online keeps maintenance and paperwork to a minimum
- online payment can be achieved many different ways
- many renters prefer paying online
- tenants appreciate the ability to pay anytime on any device
- integrated into property management software, it provides a single account where rent payment history is easy to see
- ability to pay with credit cards or Paypal are key conveniences
- ability to consolidate all payment types
- recurrent payments made on schedule
- payment processors may guarantee on-time delivery of payment
- tenants who share rent can synchronize payments via one application
- online payment is becoming an industry standard
- part of a fully automated solution that you are hoping for
- payment processors offer value-added services (online, mobile app, sms, smartphone) using popular payment methods (credit card, debit card, PayPal, eCheck)
- lets you make payments to property owners and directly split your deposit to their account
- can tie into credit bureaus for a credit boost for renters who pay on time
- security deposits and last month’s rent check can be facilitated easily
- saves landlord or property managers time — no visits to the bank
- reduces arrears, NSF fees, payment delays and chasing tenants for payments
- provides on software/app interface so you can view payments and cash flow
- view renters payment status in real-time
- more reliable information for inclusion in your owners reports
- easy payment of utility bills, storage fees, and other fees to be collected monthly
List of Rent Payment Processors
Online rent payment then seems to be a no-brainer for property managers and landlords who want their businesses to be sustainable.
Online rent payment systems offer a simple setup process and fee structure, and are easy to roll out to your tenants.
Rent Payment Processor Companies
Besides the online payment system you can enjoy for free as part of your ManageCasa Property Manager subscription, these rent payment processors offer services:
- http://dwello.com (Canada)
- http://renttrack.ca (Canada)
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