Collecting rent from your tenants is an extremely important and time sensitive aspect of your job as a landlord. Processing rent payments each month can be extremely costly and time-consuming, but having your tenants pay their rent online is in your best interest- and theirs. In order for your tenants to be persuaded enough to make the switch, here are some reasons collecting rent online is best for you and your tenants.
If some of your tenants are young, they may not have great credit because they simply don’t have much of a credit history. Informing your tenants that they can pay their rent with their credit card allows you to know that rent is going to be paid on time, and it lets them build a credit history. This is a win-win situation for both parties.
By accepting rent online, you are saving your tenants from going to the bank to order cheques, but the ease of paying rent online also impacts you. Before online rent payments, you would have to take each individual cheque to the bank and deposit them all. Over the course of the year, having your tenants pay rent online is both cost and time efficient. This means you can focus on your business and ensuring everything runs smoothly.
When your tenants pay their rent online, they are given the ability to pay using their favourite rewards card. This is extremely beneficial for all parties involved because it guarantees your tenants will earn a lot of rewards each month. This can really add up over the course of a year and your tenants will surely appreciate it. Accepting online rent payments means your tenants have access to hundreds of deals with the hottest brands through the exclusive MoolaPerks page. Everyone loves a deal and your tenants will surely take advantage of the savings.
For more information on how you can save yourself time and money, and make rent rewarding, head to RentMoola.