Rent Payment-Online or Manual

 Rent Payment-Online or Manual

 

Home Repair When it comes to collecting rents from the tenants, writing rent receipts and sending them to the tenants, landlords or property managers would consider this job to be the most daunting one. There are many issues associated with the rent collection and in case you have some forgetful tenants or regular defaulters in your list, you would definitely look for some better alternative. Tenants also want to have some better alternative for Rent Payments so that they get rid of monthly check writing and get alerts to pay their rents in time. There are number of ways that any landlord or property manager could use effectively to get rid of all the problems they face during manual rent collection. One of the options is to have Direct ACH Transaction. If landlords are allowed to have this transaction then they can set up a

 direct payment and get the rents collected from their tenants directly. Though this is a good option but it has some issues that have to be taken care of. For such transaction, tenants have to be given the account number and routing number. Though it seems to be a safe solution but there are still some threats of identity theft and hackers. In such solution, tenants are the ones who decide the payment amount and time so landlords could hardly calculate the late penalties automatically. In most of the cases, banks offer this service free of cost so landlords and tenants can make the best out of it. PayPal is preferred by many

 landlords but it has many hassles also. It is difficult to automate PayPal on monthly basis. Another problem is that the website has to set up because different tenants would be paying different amount of money. This is a cheap option and easy to operate but again this system requires that tenants submit their rents correctly as there are chances of errors. The best option that is the latest buzz is the Online Rent Payments. This is the best alternation for Rent Collection and payment. Such software are easy and are automated thus tenants as well as landlords find them comfortable to use. Using this online system, one

 time or recurring payments can be made. Penalty calculation can be done per month or per day basis so landlords know how much to charge from their tenants and tenants also know how much they need to pay. There is no chance of getting late in paying the rents because regular email alerts.