Accept Online Rent Payments Archives - Propertyware

The Value of Online Payments for Tenants, Owners and Vendors

online payments

While other industries adapted quickly to online payment systems, many property management companies still insist on paying and receiving money with old-fashioned paper checks. However, as more millennials – some of whom have never even written a check – move into apartment communities, wider ranges of payment options have gained traction, especially because online payment systems deliver so many other benefits, among them:

  • Offering tenants a welcome convenience
  • Reducing late rent payments
  • Slashing time spent processing payments
  • Simplifying the accounts payable and receivable processes with vendors and owners

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How to Simplify Rent Week

We’ve all heard the dreaded “The check is in the mail” line on rent week. It is so cliched, that it is cringe worthy, but sometimes true. Even the most reliable tenant forgets or experiences tight finances, necessitating a last-minute dash to the post office or to your office to pay rent on time. Unfortunately, that is not the end of the most hectic week of the month. The hours spent logging the checks and making the trip to the bank for the deposit – and you’ll be lucky to do it in one trip – adds unnecessary strain to your busy life. With broad and easy access to technology, a better way exists for both you and your clients. Switching to an online rent payment system can be a scary proposition, but the payoff in time and money is well worth a little effort in the beginning. (more…)

4 Ways Property Management Software Can Reduce Late Rent Payments

property management software

Late rent payments are an inevitable part of our business, and one of the more uncomfortable to deal with. Slow payment impacts cash flow, and chasing rent down wastes your valuable time. But property management software can help you greatly reduce the frequency of sluggish payments. (more…)

Mastering Online Tenant Payments for Single Family

tenant-payments

Single family property management companies have much to gain from using online payment options. Instead of chasing down checks during rent week, property managers can easily track which tenants have paid, and when, using an online system. This fast, convenient option is also ideal for tenants who can choose their preferred payment option and pay rent on their own schedule. (more…)

New Study Implications for Online Rent Payment

online rent payment

Roughly 1 in 4 U.S. adults don’t always pay their bills on time. Among 18 to 34 year olds, just over half are paying their bills on time.* Are you ready for the easy way to collect rent? (more…)

7 Ways to Encourage Online Payment Adoption

As a property manager, you understand the stress associated with rent week. Tenants rush to your business office before closing to submit their rent, while you struggle to track down others who have forgotten to pay. Countless checks need to be deposited at the bank, and you’re still waiting on payments that tenants insist are “in the mail.”If this scenario sounds familiar, it’s time to rethink your process. (more…)

Rental Property Management Tips: How to Get Renters to Pay Rent On Time

how to get renters to pay rent

As a property manager, you’re responsible for making sure the properties you manage have a consistent revenue stream. It should be simple, right? You fund improvements and maintenance, and tenants pay the rent. Unfortunately, handling rent payments isn’t always straightforward. If you want to learn how to get renters to pay rent on time, follow these tips: (more…)

Thought Leader Series: Tips to Make Sure Rent Payments are Collected on Time

rent payments should be collected on time

Making sure tenants pay their rent is an important, but sometimes unpleasant, part of a property manager’s job. While the majority of tenants do pay in full and on time, that doesn’t mean collection of rent payments can be done on autopilot. (more…)

How Rental Property Software Helps in Processing Security Deposits

while property management is about working with properties and people, managing property involves a lot more paperwork than many people think

While property management is about working with properties and people, managing property involves a lot more paperwork than some think. It takes time and effort to help your properties run smoothly. Processing security deposits is one area where you can’t afford to make a mistake. How can you ensure that you effectively keep track of your tenants’ security deposits? (more…)

How to Record an Application Fee in Propertyware

The Propertyware Portals module allows you to collect application fees from prospects and deposit those fees directly into an income account. Recording application fees in Propertyware is simple and has two parts: it must be set up as a charge in your Propertyware ePayment setup and then it can be recorded. (more…)

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