Many landlords choose to take rental payments online because of the convenience factor. Here’s how to choose the best online rent payment systems to use for your rental properties.
As a landlord, you can choose how you want your tenants to pay depending on the system. Choose among debit cards, SMS payments, credit cards, eCheck, PayPal and even payments at local grocery stores. Some of these options may come with additional fees.
Some systems offer tenants reminders to pay their rent. This can help prevent payment defaults and late payments. Not all systems offer this service though.
One of the best perks to using these online payment systems is the ability to streamline your operations. You can have multiple properties managed through the same system. This makes managing the rental income easier and convenient.
As referenced on www.rentrescue.com/, the top five systems are Cozy, PayYourRent, Avail, TenantCloud, and SparkRental. There are pros and cons to each of these systems. Knowing what you need from an online payment system can help you choose the best one.
Choosing the best online rent payment systems for your properties requires you to evaluate each one. You may need a robust system if you have multiple properties to manage. Or you may simply want something that is convenient to manage a handful of properties.