Property managers, landlords and tenants alike should be happy to have left the era of writing rent checks behind. In this digital age, online rent payments have become the norm for both residential and commercial tenants. At LCI Realty, we see a number of reasons why tenants and landlords would want to accept payments online. Especially for landlords, there is a significant number of property owners that consider payment problems a larger concern than criminal or eviction history. If you aren’t already collecting digitally, here are the reasons why the LCI Realty team thinks that you should start taking online rent payments.
In this day and age, we try to automate everything that we can. Most people would rather have their bills set to auto-pay and know that their payments are made every time on a certain date instead of worrying about when they need to get a check in the mail. Landlords and tenants alike prefer the ability to make online rent payments because of their convenience, especially recurring payments. No longer waiting on a check to get deposited or clear and knowing exactly when the payment will be made allows everyone to set their budgets properly.
While everyone agrees in the leasing period when rent should be paid and how long of a grace period might exist, the reality is that lives get busy. Sometimes, payments slip people’s minds, but there is nothing more grating for landlords than chasing down payments or reminding tenants that they need to pay. Incorporating online rent payments with the right program allows landlords and tenants to set reminders and notifications for when it’s time to check that payments were made.
Real-Time Payment Statuses
For landlords, the special advantage of online rent payments is that you can track your incoming rent payments as they are made and processed. You no longer have to take payments to the bank, wait for them to process and find out if there is money that you need to chase down. Now with online rent payments, that’s an advantage for landlords that might have left you stressing before.
Property Management And Work Orders Made Easy
Both tenants and landlords can set up online rent payments with different portals and platforms. These platforms often offer a multitude of other services, including property management processes like the administration of work orders. Using the same platforms, you can manage a multitude of needs while sitting in your pajamas at your computer at home.
At LCI Realty, we are invested in making your life easier when it comes to your real estate investment goals. From helping you find the right property for your investment profile to property management, our team is here to help you. Call LCI Realty today at 480-565-8981.