3 Reasons for Associations to Offer Rent Payments Online

With mobile versions of everything becoming the norm and everything going electronic, it’s become necessary for property management to offer the chance to pay rent online. If your property doesn’t have this feature yet, it’s time to follow the crowd and get HOA Software for online payments. Not only is it more convenient for renters (they can pay on the road or if they’re away from home), but it’s also a great saver of time and cost for your association.

In case you need any more convincing, here are a few other benefits to offering online payments.

1.Better Customer Service

When you’re not having to spend time collecting rent checks and waiting for them to process, you could be working on marketing for new residents and nourishing your relationships with current owners and residents.

2. Increase On-Time Payments

Condo ManagerPaying online offers several options for payment, including e-check, credit card, and sometimes PayPal. You can send out automatic reminders to residents letting them know when rent is due or coming up soon. Having this feature often prompts payment right away if your alerts and Association Website are optimized for use on mobile. This, in turn, will minimize the number of past due accounts you have to deal with.

3. Increased Renter Trust

According to surveys, residents often assume that the highest quality properties offer options for online payments. Residents want online portals to be available 24/7, be user-friendly and easy to use, offer the multiple payment options like we mentioned before, have monthly statements that separate the rent payment some services and fees, and include the option for automatic payments.

Of course, there will always be some more traditional renters who prefer to pay manually with their checkbooks, but that number is decreasing more and more. Statistics are showing that overall people are feeling more comfortable with online payments than ever. So make sure your properties are offering online payment options for rent each month to increase happiness of renters, have better customer service, and increase the likelihood of payments made on time.

 

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