Contributed by our Friends at PayScape
Not only is collecting rent online easier for landlords and more convenient for tenants, it’s also safer. With the flexibility and security of online rent collection, more and more landlords adopt online rent payment systems. By providing an accurate and easily accessible record of spending, tenants can seamlessly make payments online while creating a positive relationship with their landlord and reduce stress.
Here’s what you really need to know about the reliability and protection of paying rent online:
Security at the Touch of Your Fingertips
Safety features are in arm's reach with online rent payment. With characteristics including a centralized administrative control, user-based logins, and address verification, processing payments online simplifies and secures your tenant’s data.
Online banking and bill paying are considered safer than paying by check. By paying rent online, you can rule out the chance of bank information getting in the wrong hands or having concern over lost or stolen checks. Vital customer information is secure and only seen by those involved in processing the statements.
Increase Reliability by Paying on Multiple Platforms
More options equals greater satisfaction (especially when they are secure). With alternative platforms to choose from, tenants can guarantee that their payment will process and feel at ease in their selection. Platforms including websites, mobile apps, and pay by phone services allow tenants to feel confident in their finances and rental activities.
Depending on the platform, tenants can pay by:
With mobile payments as your innovative payment processing solution, accept credit card payments anywhere in the world with a data connection. Utilizing mobile payments gives tenants freedom and self-confidence to enhance their rental experience.
Tenants Appreciate the Transparency of Online Payments (and you will, too!)
Seeing is believing. Everyone can see what is going on with each payment. Greater visibility means less confusion and more understandment. Landlords will know if the tenant has scheduled their payment and what day they scheduled it for. Transparency establishes trust and an authentic connection in your rental relationship.
As a business owner, you handle a multitude of payments each day. Ensuring that your business knows where your money goes means you can make adjustments and streamline and enhance your entire business process. Deliver clear messages and statements to extend your correspondence with tenants.
Eliminate Chance of Human Error (and Fraud)
Online payments through multiple services clearly depicts the amount charged by the landlord. With online invoicing, tenants receive professional online invoices without attachments. This eliminates the need for them to download a pdf or click a link to view their bill. Tenants can’t make excuses about forgetting to pay and this process decreases the chance of them paying the incorrect amount.
Tenants can easily spot unusual fees or deposits on the account and it’s easier for property managers to to see the rental payment history of each tenant. Accounting is simplified with accounts receivable. With the inclusion of an online tracking system for rent payments, it’s less likely for you or your tenant to make a mistake.
See Rent Payment Statuses and Reminders in Real-Time
Real-time statuses and reminders alleviate the tenant’s uncertainty throughout the rental process. Skip the paperwork and never fall behind. Rent transactions statuses across multiple properties allow you to collect your rent through an online service, which gives you digital documentation.