7 Reasons Why Online Rent Payments Are Better Than Checks

Let us look at seven ways collecting rent through online payment systems makes the lives of Orange County tenants and landlords easier.

Online rent collection is simple
Tenants of all ages prefer the convenience of paying online. Studies show that nearly half of older people already pay most of their bills online. Online payments are secure and assure resident and landlord on-time payments.

Rent reminders
Online rent collection can send a text message or email reminding tenants that rent is due before the 1st of the month. Tenants will thank you as they will not incur fees and you get paid one time.

Multiple payment methods
Online payment methods are free or at a small cost such as eCheck, debit or credit card, and convenience stores have walk-in cash payment systems for those who do not have bank accounts.

Real-time
You will receive real-time “rent has been paid” notifications. You have a clear overview of your tenant’s payments and your current financial situation. Many online systems tie into accounting software and post the deposit automatically.

Processed faster
Waiting for a check in the mail takes an average of three days. Once you receive it, you must find time to go to the bank. Online payments take place instantly.

Enhanced security
Checks contain the tenant’s bank account information. The potential for fraud is incredibly high and when fraud happens, most tenants will not have additional funds to pay rent. Online rent collection means that financial details are not shared.

Finally, more features
Rent payment platforms may include other features such as tenant and owner portals for one-time payments, scheduled payments, late fees and security deposit collection.