Learn why electronic lease payments are mandatory at all of our properties. Benefits include convenience, security, and a simplified experience for both tenants and landlords.
We are a technology forward company that prides itself on a convenient and simple leasing experience. When we first started providing housing for our communities in 2013, cash and checks were accepted as the only means of payment. At the time, this seemed like the quickest and easiest way to accomplish the goal. The carbon copy receipt booklet came out and that was the proof of payment.
When going to the bank and physically collecting lease payments became a hassle, we were certain there was a better way -- not only for us but for our residents.
After reading countless blogs and hours of podcasts, it was clear that there were many options out there that met our needs. Some were free, others required a small monthly fee. For the property owners and managers, below are some of the sites we experimented with:
RentRedi
Inexpensive property management software that is a great alternative for the smaller property owners.
eRentPayment
Another inexpensive solution that has a small fee per transaction, but can get expensive if handling a large number of lease payments per month.
Buildium
What we currently use and is a professional property management software with monthly fee and small fee per transaction.
With the large advances in technology and mostly everything turning digital, it was not unheard of to transform the business and go 100% electronic. The transition occurred over a 6 month period, but in the end, all were happy with the switch and we received very positive reviews.
At the end of the day, our residents no longer need to go to the bank, the property manager no longer needs to drive to the property to collect a physical check, and receipts, credits, and refunds are processed in real time -- without paper. Electronic payments are now mandatory at our properties as these benefits are too great to hide from.
Reach out about how you either pay or collect least payments -- we would love to hear from you!
