Why Tenants Want to Pay Rent Online

by Andrea West

Posted on 2017-08-22 12:17:54

Maybe you’re a landlord who is just fine updating rent payments in paper accounting ledgers, you enjoy the one or two days a month that you run all of the rent checks to the bank, and your filing system with all of the rent applications and tenant leases you have accumulated over the years is immaculate. For someone like this, it may be difficult to understand why your residents keep asking you if there is an option to pay online.

If you are one of these landlords, read on to discover the secret inner workings of those who prefer the convenience of computer technology to take care of their rent for them.

  1. This way they have an option to pay with their bank account or a credit card. It’s nice to have different options available.
  2. They also don’t have to worry about mailing their rent payment, make a stop at the rental office, or try to get a hold of you. There is no relying on another person to make sure their rent makes it in on time.
  3. They can either use their computer or phone to pay rent, whichever is most convenient.
  4. And if they use their computer or phone a lot, the online notifications about rent are a handy reminder that the due date is coming up.
  5. It’s nice for them to be able to pay rent the moment they think about it. This is possible when the internet is at their fingertips.
  6. Even better, they don’t have to think about it at all. Online rent payment software often comes with the option for them to set up automatic payments to make sure rent is paid on time every month.
  7. They don’t have to worry about their rent payment being lost. In paper form, the money could get lost in the mail, in the office, or somewhere along the way as your resident runs a million errands. This isn’t a worry when they pay online.
  8. Lastly, they don’t have to worry about ordering checks or running out of checks before rent is due. They don’t need them.

Now you understand better why your residents keep asking to pay rent online. You can also read our article about how accepting online rent payments was made for the convenience of the landlord as well.

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