Benefits of Having Tenants Pay Rent Online

Managing rental properties can be a real balancing act. The biggest headache is your ability to collect rent totally and on-time. Partnering with Schedule My Rent takes away majority of the stresses due to collecting rent in person. 

Majority of landlords prefer online rent collection for this reason. At the same time, there are a growing number of tenants who prefer this system as well. Especially younger renters, who are completely out of touch with licking envelopes, writing checks and sending payments through the mail. 

Switching tenants to pay rent online has many benefits to both landlords and renters. 

Some of these online payment benefits include:

-Setting up recurring or one-time payments

-Property management service for landlords

-Directly deposits rent into your bank accounts

-Tracks rent, bills, and fees for tenants

With payment options and reminders for both landlords and tenants, late rent payments are decreased. This serves the landlord because rent is paid on-time and the renter receives no late fees. Both sides are happy and it is a win-win for renters and landlords. Scheduling rent payments online also minimizes the use of paper and this makes for a greener and more environmentally friendly transaction.  

Ultimately, having tenants pay rent online provides greater visibility and tracking of all rent transactions. Increasing the accountability; limits the room for excuses on late payments and no payments by the renter. The benefit of landlords and tenants receiving status updates in real-time minimizes any disagreements between one or two people. 

As with any new system, it takes a few times to get used to. Paying rent online with Schedule My Rent is easy to set up and use for both tenants and landlords. We help landlords get paid regularly and on-time and help renters pay their rent on-time. 

Contact Schedule My Rent today to learn more about the benefits of having tenants pay online and adopting the new online rent payment system.