Managing a property can be time-consuming and stressful. For this reason, it’s crucial to stay up to date with property management techniques to make managing your rental property straightforward and effortless. One way to make things easier is to take things online, especially the tried and tested method of collecting rent online.
Rent payments are the fundamental source of income for your property. When tenants fail to pay rent on time, it can cause financial problems and may affect your other responsibilities as a landlord. This is where the benefits of making online rent payments come in. There are significant advantages to managing your rent payments online, especially when it comes to ensuring your rental property investment is financially successful.
At Apogee Properties, we’ve seen and experienced the difference between collecting and paying rent online for landlords and tenants. It’s convenient, cuts down on trips to the bank, and can help eliminate the risk of late rent payments.
The benefits of accepting rent payments online
1. Paying rent is just a click away. This minimizes late payments because of the convenience of paying rent online, so tenants are able to pay the rent anytime, anywhere.
2. Online payments can be scheduled and/or automatically debited from a bank account or credit card. And if ever there is a mistake in the amount entered, landlords can use the online payment portal to issue a refund.
3. Tracking rent payments has never been this easy. You can monitor your rent payment status in real-time and with ease. You can even use the automation tool feature to send a reminder when the rent is late or coming due.
4. Landlords can set enforceable late fees as well as customize the late fee amount and grace period.
5. Online payment tools can increase transparency and trust between landlords and tenants. Tenants can see their account details, including past and outstanding payments, which makes disputes unlikely.
It’s time to switch to online rent collection.
Managing rental payments can feel like a full-time job. Sending reminders, collecting rent, and recording all payments are just a few things you need to do as a landlord when it comes to financial management. With online rent collection, collecting payments has never been more efficient, convenient, and effective.
At Apogee Properties, we make sure that all issues are tracked and addressed accordingly. We provide our clients with A-Z property management, including management of online payment options, so that they don’t have to worry.
If you’re not offering online payments at your rental property yet, now is the time to make the switch. Send us a message if you need help with online payments and other property management needs.
Work with Apogee Properties
Apogee Properties is Houston’s Premier Property Management Company. We work and live in Houston, and our property managers are local. We’ve been in business for more than a decade, providing comprehensive property management services in the Houston region, ranging from a studio condo to a multi-family million-dollar estate. Contact us to learn more about our property management services, and what we can do for you and your rental property.
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