How to Convince more of your renters to pay their rent online

Landlords who are offering online rent payment options to their tenants are ahead of the competition even while they try to manage their spreadsheets as well as deposit check payments on-time. However, it can be challenging to convince these residents to make use of online rent payment.

Younger tenants can easily get it and most of them have no idea how a check book looks like. Other renters, though, are reluctant to use debit cards online for fear that their personal information would be compromised when submitted over the internet. The moment these people realize the convenience of paying their rent online, both parties (landlords and tenants) will be a lot happier.

What is the best way to convince tenants to pay rent online? First, landlords should explain the advantages of paying rent online such as securely paying rent from anywhere using a mobile device, no late charges if checks are lost, and knowing the status of payments. If still they are not convinced, property owners should give an incentive. They can consider a number of tips to run a raffle so more tenants will use an online rent payment platform:

Decide on the Raffle Prizes

Though the benefits are obvious, at times, renters need some kind of motivation. Landlords should give much thought on the prizes they want to offer in their online rent payment raffle. These should be something residents can benefit from like the following:

  • Gift certificates (from coffee shops, restaurants) to be drawn each month for tenants that pay rent with credit card online;
  • A discount on next month’s rent;
  • One-time carpet cleaning free of charge;
  • Upgrade on amenities such as shower head or additional ceiling fan.

In case the first raffle is not too successful, landlords can set another raffle with a different prize up to the time they come up with the incentive that is a winner.

Let Tenants Know about the Raffle

Property owners can try different ways to let their tenants know about the raffle. It should make them feel excited so they will engage themselves. Such methods include:

  • Sending a text message or email;
  • Including a message on their site;
  • Posting a flyer where it can easily be seen or leaving it on their door;
  • Telling them personally.

It might be a good idea to do full-blast marketing a week prior to the due date of rent payment. This adds a sense of urgency. Since the first day of the month is fast approaching, it will be easily remembered.

Announce the Winners

Usually, when a contest is held, the winner only finds out when they have won. For this reason, there will be several emails and phone calls asking who the winner is. Therefore, landlords should announce the winner to the public to let everyone know.

In their newsletter, the landlord should congratulate the winners and try to know their thoughts on using the option of paying rent online. This can be used in the next contest. Such social evidence will encourage new renters to join and keep the high level of excitement.

Considering the above mentioned tips will hopefully encourage many residents to use the online rent payment service so they can enjoy all the extra time saved during rent week.

Why not take Advantage of Online Bill Payments

The price of commodities continues to rise, postage stamps included. Thanks to technology, people are now able to pay almost all of their bills without buying a stamp, stationery or an envelope. It is more convenient for them to make their payments online. Consumers can also pay for the products they buy by means of online services offered by merchants.

Automatic Bill Pay

You can pay your utility bills or purchases by setting up an automatic bill pay with the associated vendors. The payment, which is due for the month, will automatically be debited from your credit card/bank account with no effort on your part.

This is convenient for frequent travelers or people who forget to pay their bills on their due date. You have to make sure, though, that your account has enough funds when the vendor withdraws your payment. If not, you need to pay additional charges as your penalty.

Bank Bill Pay

Your bills can be paid at your own online banking center – most financial institutions provide this kind of service. Some banks offer this either at no cost or by letting you pay a minimal fee every month. Many banks place a limit on the number of monthly bills that can be paid, free of charge.

Since you pay all your bills in one place, this is a convenient and practical way to pay bills online. Moreover, you can feel at ease that your financial information stays protected. This makes bank bill payment a perfect mix of secure financial info and convenient shopping.

Pay Through Vendor Sites

If you want your payment to get to the right place and on time, pay through online vendor sites. This is your best choice if you are a procrastinator. Just go to the web site then pay your utility bill directly to the corresponding company by keying in the details of your credit card or bank account.

There may be some risks involved with regards to your financial information, especially when one of the vendor sites is compromised and you can become a victim of identity theft. One more disadvantage is you have to type more often. Also, you also have to go to all the web sites concerned to make the bill payment.

Desktop Software

You can visit the different websites to pay your bills and do a number of banking tasks or you can install a software then link it so you can send payments directly to your creditors. However, it is very important to be sure that the computer you are using is safe from threats of infiltration. Even if you are constantly online, you can see to it that your personal info remains safe by using anti-Spyware and Windows Firewall software utilities.

When it comes to paying bills online, be sure to weigh all the advantages and disadvantages that this may present. Take this advice into consideration to come up with wise decisions.  Always remember that no one should ask the details of your login and password through your email, not even any bank or vendor.  Therefore, you should never supply this kind of information even if the email you receive seems to be legitimate. So it is just right to avoid anyone who requires this type of information.

Are you looking for someone to set up a online rental payment service for your business? We are here to help you – learn more about our rent payment service!

Accepting payments online – No longer something you can overlook

When you create your own website to sell your products/services, it would be a great idea to apply an online payment solution to boost your prospective buyers. An online payment system allows buying and selling to become fast and easy. When you provide a facility such as this, customers will prefer to use your website to purchase products/services. More often than not, having such a facility influences the decisions of customers to buy from you.

Benefits of Accepting Payments Online

The advantages that businesses may receive after applying an online payment system to their website are as follows:

Security for Merchants

Receiving payments through an online payment scheme is more secure for merchants compared to receiving cheques. They immediately receive the payment in their account so there is no risk of getting bounced cheques and associated fees.

Having a competitive edge

Merchants that accept payments online can improve their reputation and gain the trust of potential customers. In addition, when merchants make use of an online payment system, they no longer need to ask for cheque payments.

Fast and Simple Setup

It is fast and simple to set up a credit or debit card based payment system. Once it has been implemented, you can start to sell in a couple of minutes. Furthermore, there are lots of service providers that present affordable plans that include free setup and inexpensive transaction rates.

Immediate Payment

One of the best advantages of implementing an online payment system is quick and trouble-free payments. It is easy and convenient for customers to make a payment from their home or office. This system allows them to receive an immediate notice of the business transaction and get an assurance that their orders will be delivered to them.

Merchant Reliability

Nowadays, customers tend to buy from merchants that make use of online payment methods as they find them more reliable. This feature encourages them to deal with these merchants. Just the same, credit or debit card payments provide consumers with fraud protection, which protects their money in case they do not get the product they purchased online.

Recurring Payments

An online payment scheme is more suitable for businesses that offer subscription based services, wherein customers have to pay after a certain time. Merchants no longer need to send reminders to customers or request them to send cheque payments since the former can automatically collect payments once the subscription term ends.

Credit Card Payments

Even if customers do not have enough cash in their bank account, they can use their credit cards whenever they have to make payments. Better yet, the payment can be done in installments, if merchants sell pricey items. Customers can pay in installment form using their credit cards.

In essence, an online payment system provides more value and convenience to their customers. This type of payment scheme has lots of advantages but the most important of all; it allows merchants to earn the trust of consumers. Moreover, both parties concerned in the business transaction get their respective share in a visible and timely manner.

If you have finally decided to step into the 21th century and accept your rent payments online, you need a professional online rental payment service. We can help you with this – come and check our rent payment service to get more information!

Here Is Why You Should Switch to Paying the Rent Online

Some people are hesitant to pay their rent online – why do this when they are used to paying the traditional way? Come to think of it, there are some benefits when paying rent online. Property owners are now offering online payment schemes to tenants, giving them an opportunity to manage their finances better, free themselves from stress, and improve their credit standing. Take a look at the following advantages:

Build Credit by means of Credit Reporting

Renters get several advantages from improving their credit standing. This can enable them to have a lower interest rate for car financing or big purchases, and will even help in buying a house someday. When they pay their monthly rent on a timely manner, which is likely their biggest recurring payment, this can have a positive effect on their credit standing.

However, there is no need for them to download an app or share their bank account details with another vendor. There is a more convenient way. Most property owners give the opportunity to report their rent payments directly when paying their rent online. They do not have to do anything else. This is a simple, secure and effective way to build their credit.

Minimize Stress by using Automated Recurring Payments

Online payment schemes see to it that tenants pay rent on time, build their credit score and avoid late charges by sending constant reminders through text and email. What’s even better is that most of these systems provide autopay options that can be set and forgotten. Autopay allows them to pay on time, every time and so, there will never be any late charges.

Maintain an Active Lifestyle using Mobile Payment Options

When renters receive the payment reminder via text while they are on the go, what should they do? It is as fast and easy as a click to pay online using a payment app or a mobile-friendly website. Majority of solutions allow payments anytime and anywhere, accommodating tenants wherever they are.

Avail more Flexible Payment Schemes, Such as PayPal

At times, renters have insufficient funds on a certain month, or may try to get a free airline ticket, but need more points on their credit card to get the miles. They can benefit from the flexibility offered by paying online. By using their credit card, they can add more points, set up bank withdrawals or use PayPal.

Lower the Chances of Theft and Check Fraud

A lot of personal and bank account details are printed on checks, which are easy to reproduce. Paying bills online minimizes the paper trail and risk of having a check or information on it stolen.

Have Easy Access to Payment History

Among the best advantages of paying online, which is often overlooked, is the visibility and accessibility of payment history. Renters can log in whenever they want to see their current bill and payment records in actual time. They can get their payment information anytime and anywhere.

Paying rent by means of online bill pay option saves a lot of time and effort, while giving additional benefits – such as credit reporting. If some renters have not tried this payment scheme yet, it is about time to benefit from it.

As you can clearly see, it’s about time to start and collect rent online. Your tenants will be happy to pay rent online as well – who doesn’t like having more free time and less hassle?

This Is Why More and More Tenants Love Paying the Rent Online

Tenants have stressful lives. Usually, they start the day by bringing their kids to day care, then go to work, leave the office during lunch break to do errands, and juggle extra curricular activities and meetings.

Due to their busy schedule, they may forget about their rent payments, letting them miss the deadlines. Though this is the typical scenario in rental housing, it can be avoided. Applying a new rental payment scheme will benefit a landlord’s business, and also help his/her tenants.

These are the 4 reasons why tenants go for online rent payment schemes:

1. Tenants Can Pay Rent Anywhere Anytime

Collecting rent personally or via mail can lead to many problems. These include late payments, bouncing checks, as well as physical collection and cashing of checks. One big advantage of online rent payments for tenants is that it will be convenient for them to pay rent.

At times, they may forget to mail their checks, or have no time to go out and send them. Online rent payments will enable tenants to pay rent on the due date and not risk losing a check in the mail. Paying rent online helps them avoid late payments plus associated late charges, which benefit them and property owners as well.

2. Tenants Can Easily Track Online Rent Payments

Usually, tenants pay additional fees, rent charges, or see changes in utility payments. They now access online tenant portals by means of a rent collection software app, which allows them to view the payment history to see the amount and date paid, plus any outstanding balance.

Property management companies can also monitor these. Using the right software, tenants have access to all transactions so they can view what they owe, and remember the amount to be paid and due date.

Even if they are away from home, tenants can pay rent via the online rent payment system.

3. They Can Pay Rent Wherever They Are

There are tenants who cannot be contacted right away. Some travel often, while others work for long hours, making it hard for them to get to the leasing office in time to pay rent. When tenants could not keep in touch or remember to mail a check, there is a higher probability for a late payment. Online rent payments will let tenants pay rent on time, even if they are in a different time zone.

4. Less Mistakes are Made

Once tenants are connected to an online rent payment system, they can view the amount they owe, including the unfamiliar fees/deposits on their account. Property managers will also find it easy to view each tenant’s rental payment history. Accounting is made simpler because of the well-organized accounts receivable list.

When making a payment, information is transferred from one party to another and almost all stakeholders in the industry benefit from the process as it runs digitally. Having an online tracking system for rental payments minimizes the chance of errors made by tenants. This, in turn, boosts the tenants’ satisfaction and makes them feel secure about their finances.

Landlords who accept rent online will offer more options to their tenants. Even if not all will choose this from the beginning, online rent payment will gather more and more adepts with each month – just ask around!

A Short Guide on How to Make Payments Online

In the past, people paid their bills by means of cash or checks. They would write checks, place them in an envelope, stick a stamp, then have them processed, which could take until a week. Nowadays, a lot of people pay their bills online. Though there are several ways to do this, one convenient way is to use a system via their bank such as bill pay.

Reasons to use online bill payment

Individuals who use online bill pay via their checking account can enjoy the benefits not given by other payment schemes. Firstly, they can set up payments for all their bills from a single location rather than manage their payments on many, different sites. They can keep track of due dates and make sure they pay everything on time. There are other advantages like:

  • Avoiding overdraft fees – payment will not be sent when the funds are insufficient.
  • Viewing pending payments before their due date.
  • Protecting personal information rather than submitting bank account details on other sites.
  • Being able to change the amount or date of payment if necessary without the need to call or migrate to another website.
  • Setting up automated payments for regular expenses every month such as electricity or cable bill

In addition, online banking makes it easy for people to monitor their balance, rather than wonder when payments will be posted or checks will be processed and subtracted from their account.

Ways to benefit from online bill payment

Using online bill pay with their bank is advantageous at all times, however, individuals can maximize the benefits it offers by using it regularly. To use it to its full advantage, they have to know how to handle their payments.

As a start, they need to get the contact details of all the companies they plan to send payments to and include them as payees. Most companies are incorporated in the bank’s system, so it would be easier for them to get the needed information. A lot of banks send checks to payees that do not recognize ACH payments. People just need the payee’s contact details, plus their account number.

They should plan the payment for every payee ahead of time. They should also be familiar with their bank’s policy on when the payee will receive the payment, so they would not have to pay a late fee. If the amount and date of payment is the same each month, they should set up a recurring payment to ensure that a bill is paid on time.
If online bill pay is used for all their payees and automatic payments are set up, they can save on time and manage their budget. Furthermore, if there are any concerns, they can always refer to the record of all their payments.

With an online rent payment service, paying bills has never been more convenient. Using online bill to handle finances allows people to save on time, costs and a lot of stress since they can track their payments and balance from just one location. With all the benefits that online bill pay has to offer, paying in cash or checks are nearly reaching extinction. Would you like to learn more about our own online rental payment system?

Video: Rent Merchant – Payment Preferences Setup

Video: Rent Merchant – Registration & Platform Overview

Paying your bills online – What are the advantages?

Let us look into the main benefits of paying the bills online:

Easy

Using online bill pay allows you to save on time. Instead of writing out checks, gluing stamps and keeping a file of papers, setting up an online account can get rid of these steps. It will also be much easier and faster to manage your debt.

When you need to go over previous bills, you do not have to waste time looking for them because all of your account details are located in one centralized location.

Cost-Effective

Online bill payment enables you to save on postage stamp costs. On the average, a household receives 15 bills every month, amounting to $70 in postage costs per year.

Try to avoid late fees that can be incurred when payment is made after the due date. When you miss payments, this could bring about:

  • Higher interest rates;
  • Over limit fees and late fees;
  • When payment is overdue, your account could be placed on collection status.

Convenient

To manage debt more conveniently and efficiently, go for automatic online bill payment solutions. Creating an account will enable you to set up recurring payments that will regularly be withdrawn from your account. This way, you can minimize the possibility of late or lost payments, saving time during the process.

Even if any of your bills is due the following day, online bill pay makes sure your payment is posted right on schedule.

What consumers should watch out for

There is always some kind of risk involved whenever doing transactions by electronic means. This may only be minimal, but it continues to increase due to the development of more sophisticated hacking techniques.

Over the last few years, a technique called “phishing” has become a major concern. Phishers give out fraudulent messages (via a web page pop-up or email) that are intended to deceive you into sharing your personal account details. Such messages often look legit (with their company logos etc.) so they can easily trick consumers when they are not too careful. According to a recent study, 57 million Americans have been sent phishing emails, and of that number, almost 2 million individuals have been tricked into giving their personal account info to a counterfeit source.

How to Avoid Scams

Consider the following tips to stay away from online scams:

  • Review your online banking transactions on a regular basis to make sure there is no suspicious activity going on.
  • Change your online passwords every 1 to 2 months. Always choose a password that has upper and lower case letters, plus symbols to reduce the chance to be guessed.
  • Watch out for fraudulent emails. Even if an email looks legitimate (with a logo), it may have been sent by a fraudulent source. If the email wants you to verify or update your personal account information immediately, do not respond to the email.
  • When you get an email from an unknown source, make sure to delete it. If you mistakenly open the email, do not click on any of the links. You might download a virus to your computer. If the email looks legitimate, type the web address in your browser instead of clicking on the link.
  • Keep the anti-spam and anti-virus spam software on your computer. This will help you to block out spam and junk mail.

Looking for a reliable online rental payment service? We have specialized in this type of solutions for tenants – get in touch with us today and discover our rent payment service!