Benefits of Letting Tenants Pay Rent Online

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It used to be that the only way a tenant could pay for rent was via cash, check, or money order. These days, technology has made it possible for tenants to pay online, but some landlords are still hesitant to make the switch. If you don’t allow online payments yet, check out these reasons doing so will benefit you more than you realize.

It’s More Convenient for Everyone

People are busy. If you collect rent from your tenants in person, chances are you have played “tag” a couple of times because of busy schedules. You’d like to save time and your tenants don’t want late fees tacked on to their rent. Paying online allows your tenants to pay on time no matter where they are and takes the legwork out of the equation for you.

It Streamlines the Process

When you use online rent payment systems, you can streamline the process. You’ll be able to check on payments in real-time, see when they’ll be processed, send reminders to your tenants as needed, and more. It also allows tenants to pay in a variety of ways, including debit or credit cards, eChecks, or even PayPal.

It Offers Plenty of Options

According to www.rentrescue.com, plenty of online companies allow you to set up payments with your tenants. For example, Cozy is completely free for landlords and allows you to customize your rent payments to make them convenient for you and your tenants. You can also keep track of leases, utility payments, set up automatic late payment fees, and much more.

Keep things moving without adding to your stress as a landlord. Consider online rent payment options to help you be a better landlord.