Out of all the tasks that landlords are responsible for, collecting rent payments is probably the most important. For some, it can also be the most stressful. While many property owners have long ago begun to accept online payments, there are still countless landlords who struggle with traditional methods of collecting rent. Are you continuously waiting for checks to arrive in the mail? Have you grown tired of your tenants claiming they have sent their rent payments on time, and blaming their checks two-week late arrival on slow mailmen? If so, then transitioning to online payments might transform the way you do business. At DKRentals.net, we help real estate owners in Atlanta, Alpharetta, Lawrenceville, Norcross and other metro area communities manage their properties without struggling with overwhelm. Over time, we’ve seen the many benefits that accepting online payments can bring to landlords, and would like to show how you too can profit from taking the leap.
Manage Your Rent Payments More Efficiently
While handling checks may be simple enough for those with one or two rental properties, it can quickly become chaotic for those who are managing multiple units. Keeping track of a constantly changing paper trail can sometimes feel like a full-time job all on its own. When you accept online payments, you’ll be able to see at a glance who has paid, which payments are pending and which tenants are late. Many software programs used for rent collections will also have tools like printable reports, graphs and other data that can come in very handy. Having these resources can alert you to what tenants are consistently falling behind and can also be effective in managing the eviction process.
Receive Automatically Recurring Payments
While some tenants are late on their rent due to financial stress, a lot of late payments happen simply because the person has forgotten. Most households have a lot of monthly bills to take care of, and a lot of modern families try to eliminate problems by using automatic payments. People like knowing that they can simply sign up once, and the money will be drafted from their account without any extra effort. Offering online payments will provide a convenience to your tenants that will be very well received by most. Even those few who choose to opt out of recurring payments can receive email alerts and reminders to help them stay on track. The best part is that the landlord can simply see the money coming into their account, without having to make a dozen extra trips to the bank every month.
Reduce Fraud
Relying on checks as rental payments can cause vulnerability for fraud and theft. Untrustworthy renters may attempt to write a check they know won’t be approved, or attempt to use someone else’s checkbook for the payment. There’s also a good chance that the check itself could get lost or stolen in transit. When your tenants pay with a card, you are both protected. There’s no need for landlords to provide any bank account information and your renters have the security of fraud prevention that’s offered by their card provider.
Are You Searching for a Better Way to Manage Your Rental Properties? Contact DKRentals.net
The professional property management experts at DKRentals.net are proud to provide online payment processing and many other premium services. If you own or manage residential or commercial properties in Atlanta, Suwanee, Norcross, Stone Mountain, Sandy Springs or any nearby metro area city, call our office and speak with our specialists today.
