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.
The online tool, RentPayment, is one of the most efficient ways of keeping your vacation home funds flowing in when booked to capacity. In addition, most guests expect to be able to pay their property rent using online services. This may even include accessing their bank account to receive either a one-time draft or scheduling a regular draft.
The RentPayment service provides excellent customer service. As the client, you want your visitors to see each fee displayed when they make a booking. This helps to avoid any surprises upon check-in and helps to keep them happy, regardless of the number of days they plan to stay.
Fee structures for RentPayment are affordable, providing a smooth transition to your managing your payments. Even better, you can place all of your properties in one place, making management of each property much more efficient.
Your guests will also want to know that the payment they make on their vacation rental is secure. RentPayment has a Level One PCI rating. This means that payments are protected by the best security methods available. Personal RentPayment login details and data are secure, no matter how many days visitors are staying at your property.
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.
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 payments 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, the system either accepts or declines their credit or debit card 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.
RENTPAYMENT FEES PAY FOR THEMSELVES
Any landlord knows that collecting monthly rent from renters can be a nightmare. Whether you rent a vacation home or traditional housing, you probably charge a fee for late payment.
With RentPayment services, you can set rates by the day or by the month, and any late fees will be charged to the tenant’s rent. This takes the personal feature out of the equation and the tenant is far more likely to adjust to using computerized accounting.
Besides accountability, tenants are increasingly likely to pay rent with a credit card. At the very least, they may prefer to use their debit card. This is because of the convenience of online vacation rental payment portals. Renters seldom face a fee for using their bank cards and if they pay them off at the end of the month, they also help improve their credit score.
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.
1. AFFORDABLE AND CONVENIENT
Your company, whether it is an apartment complex or a bed and breakfast, can take online rental payment for much lower charges than you might think. The RentPayment fee structure is designed to fit any number of scenarios, making the running of your property more efficient.
With online rental payment, your tenants or guests can pay with a credit or debit card. In 2016, Americans paid out nearly $4 trillion in online payments – a number which will only continue to grow. This shows us, Americans are increasingly using a credit card to pay for more than just “big-ticket” items.
Consumers value their reward points and savvy shoppers have learned that when they pay monthly bills such as rent with a credit card, they earn more points. Not only does this counteract many of the fees they pay, but it also helps to build their credit rating. They can make one payment on the credit card to cover monthly expenses. With a rental payment agreement, they can save time and improve their credit score.
2. MULTIPLE PAYMENT CHANNELS
Your guests or tenants can pay through multiple sources. Studies show that 65% of people with smartphones book their trip on their handheld device. This means that your website needs to be adaptable to various screen sizes and operating systems to be successful.
With a system that receives payment from multiple channels, you provide guests and tenants with more personalized options, making it more likely that you will receive your payments on time.
Online payment systems are secure and fast, providing you and your guest or tenant with peace of mind. Data and information are protected by SSL, meaning that all data that passes between your server and the browser is private.
4. MANAGEMENT OF MULTIPLE PROPERTIES AND CONFIGURATIONS
Rental payment software that is designed to take payments online can respond to any property configuration you want. If you are a hotel owner, you can configure the system to accept short-term payments. If you own multi-family rental properties, you can configure it to keep track of each unit.
5. MANAGEMENT SOFTWARE INTEGRATION
Your management software keeps your business running as smoothly as possible, saving you hours of time that you would have to spend on paperwork and correspondence. A rental payment system is equally useful, and will integrate with your existing software.
RentPayment integrates with all of the major PM software systems. It is intuitive and backed up by quality customer service and troubleshooting.
6. FUND MANAGEMENT
Perhaps one of the biggest selling points for a rental payment program is that it places the money in your account sooner. Credit cards and debit cards usually take two to four days to clear, depositing the money in your bank. Old-fashioned paper checks require at least 10 days. This improves the cash flow, putting the money in your pocket sooner than traditional methods.
With secure SSL, you can track your guests or tenants, saving their card information for them. This makes it even more convenient for them to pay online. You will also have a history of their RentPayments at your fingertips.
8. TIMELY PAYMENTS
Property management sources say that tenants who can pay online, with a credit or debit card, are more likely to pay on time. They find that on-time payments increase overall with an online rent payment system.
RENTPAYMENT LOGIN INFORMATION
Follow these steps to sign in to your owner/manager RentPayment account.
- Navigate to the RentPayment Property Managers Login page.
- Enter your email address.
- Enter the password you chose when you signed up to the RentPayment login page.
- After entering your details, click on ‘Sign in’ or press enter on the keyboard.
RentPayment login is as simple as the login for any other site. Your office should keep the information handy to answer questions and help residents through the process the first time.
As with any other sign-in process, the residents should choose a password that nobody else could guess. The next step will be to enter their credit card information. This can be saved for later RentPayment for the same property.
With most payment portals, the resident can sign in and choose to repeat the payment on a regular basis. Tenants who do this are confident in the fact that their landlords will be receiving a paycheck regularly and that their finances are under control. The rent payment will then be charged to their card on the same day every month.
This type of automatic payment is ideal for property management. It reduces paperwork and puts money in the bank account quickly.
RENTPAYMENT LOGIN MAINTENANCE
Maintenance of the login page is automatic and handled by the software. Your residents’ passwords and in some cases, their usernames, will be saved, along with the credit card information. All they will have to do is sign in any time that is convenient for them, and make their rent payment in the portal.
If they elect to have the funds automatically paid, they will receive a notice that the payment is about to be taken. One click, the payment goes through and you have your money.
Money from credit cards reaches your account up to seven days sooner than money from a paper check will. This gives you operating funds sooner, ultimately helping your bottom line.
Your RentPayment software should be responsive to every type of online device. With a website design that automatically resizes itself to fit every screen being viewed, you are more likely to see successful resident login for the purpose of paying rent.
When it comes to shopping, for instance, 45% of shopping is the result of mobile use. Shoppers look through ads using their mobile phones or tablets and make their purchases accordingly. If you look at the market of consumers under the age of 25, that percentage jumps to 57%.
What does this mean for landlords? It means that by providing an online rental payment portal with an intuitive login and adequate information, you are more likely to see an increase in on-time rent payments.
Maintenance of your records and management of payments will not be as overwhelming or time-consuming. Often, it takes one click to view the details of who has paid and who has not. With a payment portal that adapts to mobiles, you have access to the fastest computing services for rent payment.
RECOVERY OF RENTPAYMENT LOGIN INFORMATION
Your RentPayment software should have a built-in recovery for login information. There should also be good customer service support for those occasions when something goes wrong.
Apartment management should be able to access some of the information without learning specifics, such as passwords and credit card numbers. Recovery is automated. The resident will be able to check whether or not they have forgotten their password, then communicate with the software to create a new one.
With intuitive RentPayment login and secure payment options, online rental payment is a natural choice. Property managers and vacation rental owners can all benefit from organized and reliable rental payment options.