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Online Tenant Rent Payments

Posted by admin on January 4, 2018
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Tenants now expect property managers to offer the option of paying rent online. Tenants want to pay rent based on personal preference – online, mobile app, by phone, via text message with a credit card, debit card or eCheck.  They also demand the ability to track their transactions and confirm payments when reviewing card or bank account history. Smart phones and online payment services are rapidly changing the rent collection game. Online rent payments will soon be the rule and not the exception. If done right, collecting rent online is also the most cost efficient, fastest, and seamless way to get paid. For property managers, online rent payments mitigate the risk and time associated with check and cash handling caused by fraud and manual data entry by reducing trips to the bank. By going online, property managers reduce collections’ time and paper, printing and postage costs, resulting in a positive impact on the property’s cash flow and bottom line. It’s important the online system syncs with the software system property  managers use to generate landlord reports. Have a streamlined process for collecting rent online is critical in today’s ever increasing cashless society. Deciding on one or two ways in which you will accept rent payments will make it easier for you to track the payments and for you to know sooner who is behind on their rent. With this in mind, Capital Retail Group partnered with PNC bank to deliver a payment platform that allows multiple payment options for tenants and supports the business strategy and best practices our landlords require.  Our payment portal enables tenants to process one-time and recurring online payments using any electronic device including phone or desktop computer. PNC employs the industry’s highest security standards to protect the information of our tenants.

 

 

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