There are various tools that provide the best way to accept rent payments online. These tools abolish the possibility of losing checks in the mail, reduce the chance of late payments and document all data transactions. Many prefer tools that allow tenants to pay by mobile device, allow recurring payment options and accept complete or partial payments. As a landlord, you want to utilize the best online tools for simple rent collection. Here are the top tools that provide the best way to accept rent payments online.
Full-Service Property Management Software
Full-service property management software is a top tool for accepting rent payments online. This online software allows you to accept rent payments as well as organize and manage your rental properties. It offers solutions for leasing, marketing, and accounting including the functionality to screen your tenants as well as income and expense tracking. Additionally, you can receive tenant maintenance requests, tenant announcements and view rent payment history. This is a dependable online tool as you can accept rent payments and communicate with tenants in one location.
Online Rent Payment Only Systems
Additionally, online rent payment only systems are a top tool for accepting rent. These systems focus primarily on rent payments. Their unique product makes it safer and easier for you to collect payments online. Additionally, you do not need a subscription plan to use these systems and can collect rent for unlimited properties. Furthermore, you will have no monthly costs. The system comes with a simple pricing structure and allows you to pass-through transaction fees to your tenants. Certainly, online rent payment only systems are a dependable tool for collecting rent.
Same-Day Rent Processors
Certainly, another popular tool for accepting rent payments online are same-day rent processors. These processors transfer payments into your account that same evening. It also reconciles bank deposits and sends deposit updates to notify you when payments are processed. There are three plans including the rental plan, the landlord plan and the corporate plan. The rental plan is $9.95/month and covers up to five units while the landlord plan is $19.99/month and covers up to 50 units. Meanwhile, the corporate plan requires no monthly fee since covering more than 50 units. As well as same day processing, you receive extra property management software. This includes rental applications, maintenance requests and a section for building announcements. Additionally, tenants can connect their accounts and their utilities to receive discounts when possible. Definitely utilize the same day rent processing tool to accept payments online.
Money Transfer Applications
Of course, money transfer applications are a top tool to collect rent payments online. These applications allow tenants to pay their rent by transferring money from their bank account directly to yours. Additionally, these apps allow you to request payments from renters which can immediately be paid through their mobile device. In fact, money transfer applications offer several functionalities including the improvement of your financial health and the ability to help tenants set up recurring payments. This means you will automatically receive payments without your tenant sending it. Generally, you are required to set up an authorized business account. This is to ensure that you are following the approved use, terms and services. Certainly, employ money transfer applications tools to accept rent payment online.
Finally, eCheck platforms are a dependable tool to receive rent payments online. Tenants must sign in to their account to make a payment using an eCheck. They can make individual payments or choose a recurring option. One the payment is made, you are notified and have the option of accepting or denying the eCheck. If you accept the payment, the tenant will be notified and it will be deposited into your account. Typically, there is a three day processing time. Once the transaction is complete, both parties will receive confirmation. Additionally, you can avoid monthly fees by requiring tenants to pay them. Definitely utilize eCheck platforms as a tool to collect rent payments online.
There are several tools that provide the best way to accept rent payments online. The full-service property management software tool allows you to collect rent and maintain a relationship with tenants. Online rent payment only systems allows you to collect rent freely. The same day rent processing tool transfers payments into your account that evening. Rent payments will be instantly placed in your account with money transfer applications. Finally, eCheck platforms allows you to control if a payment is accepted.These are the top tools that provide one of the best ways to accept rent payments online.