Benefits of Online Rent Collection for Property Management

Property Management and online rent collection

Online rent collection is a great option for property management.

Checks, money orders, credit cards, and cash: how can you easily keep track of payment from residents when all of these forms are accepted? Ditch the whole process and convert to an online system. As technology grows, knowledge of it grows. Younger generations are getting older and already know how to get connected online. Why not start the switch to online rent collection for your property management? 

  1. Save time. Processing payments and typing in resident information online each time a payment is made can be tedious. When rent collection is online, it could be as simple as receiving an email saying your resident paid their bill. Do your employees have to drive checks to the bank to deposit? This gas money and driving time can be spared when payments are made online. The money can be delivered straight to your bank. Most banks have online billing and payment available.
  2. Save space. The piles of boxes in your storage closet can be minimized with data entry online. Even the number of employees can be kept to a minimum. During move-in and move-outs, more residents need to be attended to. If they can pay their first or final bills online, it makes it less chaotic in the office. In addition to paying rent, security deposits could be refunded online which also adds to the ease of leasing office flow.
  3. Save money. The cost of manually depositing a check is higher than paying online. Many banks will drop some kind of fee on your account if you switch to paperless banking. No extra fees, no hassle for your residential leasing company.
  4. Save face. Your competition will be jealous of your spiffy online system. More people will gravitate toward renting your property because of the luxury of an online system. Also, residents care that you care about them. If you are allowing them to conveniently schedule a payment or make a request, they are happy campers.
  5. Use it for other requests. Maintenance requests made online are easy to document and access. Problems can go straight to a technician and bypass the leasing staff so things get fixed more quickly.
  6. Reduce issues.  Delinquencies are a pain for property management companies. When a resident is able to set up an automatic payment plan, the number of delinquencies might be lessened. Some tenants just forget to pay on time. Another issue is losing maintenance requests. As suggested before, having an online system makes it easy to track requests.

Claggett Enterprises for Residential Leasing

With extensive experience serving the greater Frederick area and Western Maryland, Clagett Enterprises has delivered superb service since 1987. The Clagett team is a full service real estate company that’s ready to help you with your property management needs today!

Speak with a Clagett professional at 301-665-6009, and you can also request a proposal for community management here. Make sure to connect with Clagett on FacebookTwitterGoogle+Pinterest and YouTube.







This entry was posted on Friday, April 17th, 2015 at 8:30 pm. Responses are currently closed, but you can trackback from your own site.