Hotel owners have discovered the value of vacation rent payment systems. Such programs make each transaction fast and easy for guests and residents alike. In fact, managers of community residences such as apartment buildings, which collect a rent payment every month from residents, have found that RentPayment is the perfect solution for their business.
Often, managers are reluctant to farm out their rent collection efforts to a software program. They are afraid that RentPayment fees will use up their already limited funds.
However, the fees are nominal and easily compensated by the decrease in clerical work. In addition, tenants who are leasing properties are more likely to make regular, on-time rent payment when they can do so online, rather than having to go into the office and write a paper check.
When a tenant pays through an online payment portal, their credit or debit card is either accepted or declined on the spot. From there, it takes around two to four days for the money to make it into your bank account. The only payment form that is faster is cash.
Imagine, if each resident of your community were to pay their rent, free and clear, on time, how much easier it would be to run a profitable business. Plus, no need to fill out lots of forms!
Office workers should be given a list of the FAQs so that if a renter comes in to inquire about RentPayment, they are able to walk them through the process of paying online.
Easy and Secure with RentPayment
Your renters often prefer paying online. In fact, the Federal Reserve recently noted that Americans pay over half of their bills online. In order to take advantage of the trend, property managers should provide online RentPayment for their tenants’ convenience.
In your FAQs, include information for the resident RentPayment login. Once the tenant does this a couple of times, it is an easy process that requires no trip to the office. All they have to do is go to your website and submit their payment.
Your RentPayment system is secure. It should be PCI compliant and protected by SSL. The rental community is turning to this type of online payment more and more, because it is safer for tenants and for staff. A resident can make a payment over their breakfast while surfing the internet on their smartphone.
There are nearly 7 billion cell phone subscriptions in the world – that’s one for every person. The rate of landline subscriptions started declining in 2005. This means that whenever someone wants to check your office hours, they are more likely to look it up on your website than call.
Benefits of RentPayment
Your resident community will find that making a transaction on your payment portal is one of the easiest ways to make a rent payment. Once they make a payment and submit their credit card or debit card number, it will be encrypted and saved for the next payment. This makes it far more likely that they will choose to pay online again.
Each resident transaction is secure, and the RentPayment portal is fast and accurate. This portal will allow the tenant to submit their payment safely without having to fill out any more forms. The software will keep a record of all who have paid and submit it to your business manager.
This streamlining of rent collection also has been proven to increase the rate of on-time rent payments. It also reduces the chance of fraud or theft, since the credit or debit cards are immediately approved or declined.
With RentPayment, you also get excellent customer service, so if there is a problem, you have knowledgeable people who can help.