“The check is in the mail.”
These words have been spoken so often that they’ve become a sad cliche and a poor excuse for unpaid debts. When it comes to rent collection stories, today’s landlords have heard it all. It makes the business of owning property something of a headache, don’t you agree?
However, the march of technology has opened the door for landlords to collect rent online.
Is this a feasible solution for you? What do you need to know?
Can You Collect Rent Online?
The short answer here is yes, you can collect rent online. As more business is conducted remotely via the internet we've seen a steady rise in available software, from online property management to a humble rent collection app. These are some of the more popular solutions.
Money Transfer Apps
Most of us are now familiar with some of the many money transfer apps available. Paypal, GoogleWallet, and Venmo are some of the secure apps used globally for all kinds of products and services. Both parties will need to use the same app but transactions are fairly quick and the transaction costs are transparent and affordable.
While these are cost-effective and user-friendly options, they do have shortcomings. For example, there may be limits in place for a user which could require multiple payments to reach the rental amount. And of course, these apps still require the funds to be transferred to your bank account when you need to access them, which can take a few days.
Property Management Software
There are dozens of software platforms available which include rent collection services alongside many other helpful property management tools. If you have the time and patience to go it alone, then it’s worth looking into some of these solutions and comparing their costs and ease of use. Most of these will offer several payment options.
Hybrid Systems
If you’ve made the smart choice to use a property management company to handle the good, bad, and ugly of your investments, then you’ll see the benefits of using multiple payment options. Some tenants prefer to pay cash which they can still do at any one of over 24,000 retail locations.
Others are happy to make an electronic bank transfer, set up a monthly payment to your account, or use debit or credit cards. Some make regular use of payment wallets. Whatever their choice though, all are facilitated through a professional business that channels these rental payments quickly and efficiently through to your account.
The Best Way to Collect Rent
Our dedicated team makes it easy for you to own and profit from your properties without the stress that comes with this choice of income. In addition to tenant screening, marketing, and maintenance of your property, we collect rent online to expedite the financial process.
As a property owner, you’ve no doubt had your fair share of trouble with delinquent tenants. It tends to come with the territory. Therefore, if you’ve been thinking about relieving the burden of managing your property, tenants, and payments, then we encourage you to get in touch with us.
Owning and renting a property in Houston has never been this easy.
