If you are not using a secure online system to collect your rent payments, you may be placing your cash flows and your tenant’s bank information at risk. Collecting rent payments is one of the biggest challenges Hedwig Village rental property owners face. Relying on traditional methods of payment, like personal checks, make this issue even more complicated. This is because the process of collecting a check has so many potential delays and, increasingly, security concerns.
Whether the rent check is late due to mail delays or waiting for your bank to clear it, or you’ve been the victim of mail theft and had a rent check vanish from your mailbox, it’s hard to justify sticking to a system in which so much can go wrong. It is about time you started collecting rent payments securely if you haven’t already. These are some of the top reasons why you should.
The majority of tenants prefer making their rent payments online. With the convenience of online bills payment facilities, tenants also want to be able to do the same with their rent payments. To avoid paying late, many people automate their monthly payments. It also offers tenants a way to use a range of payment methods to pay their rent, rather than relying only on a physical check dropped in the mail each month.
Improved Cash Flows
Receiving rental payments online typically results in more timely payments. Deposits arrive faster than personal checks clearing. Moreover, depending on the payment platform, you might be able to get updates on the payment status even before it has been credited to your account. You get shorter wait times, meaning you spend less time on your collections process.
Most of today’s best online rental payment programs offer enhanced security features that are designed to protect your tenant’s sensitive information. With so many cases of identity theft and fraud these days, your tenant will feel better if they can securely send their payments each month. Your tenant will surely appreciate your efforts concerning their safety. And a happy tenant stays in their rental home longer.
Peace of Mind
You might be wondering which of the available online rental payment platforms to pick. These options usually charge a fee to use their services and may even come with a long-term contract. Some rental payment platforms are so new that it can be hard to know if they live up to their advertised claims about convenience, quality, and security. With the reality of online rental payment scams, it is important to do a thorough check before signing up for any service.
If you are concerned about who to trust with your monthly rent collection, consider the benefits of hiring Real Property Management Affiliates to handle it for you. Let your tenants enjoy the convenience of online rental payments with our secure proprietary software that also provides property owners like you total peace of mind. Along with quality, security is one of our top priorities, and something few other Hedwig Village property management companies can offer. In short, we have the tools you need to make monthly rent collection one of the easiest parts of owning profitable investment properties.
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