Blog Post

What Are The Top 3 Ways To Collect Rent Online

Dustin Edwards • Nov 23, 2023

There was a time when collecting rent meant traveling to each rental and collecting cash or a check from your tenant. This eventually became a mailing service. However, these methods were time-consuming, and collecting checks would add additional time for them to clear. Both of these methods also had associated risks, such as the risk of cash being stolen or a check bouncing due to insufficient funds, which usually resulted in a fee for the landlord. Online payments are not only accurate but they can also be tracked in real time. This can notify you and your tenant when payment has been processed, eliminating the need to double-check if the correct amount was paid.


Luckily, there are new methods that are quick and efficient and can be done online or through a phone app. While there is no
best way to collect rent, we’ll go over three new ways to collect rent online.


Automated Payments Systems

Nowadays, everyone has a computer or a smart device with access to the internet. You can take advantage of this when collecting rent. There are many applications, such as Zelle and Venmo, which can make it easier to collect rent every month without the need for you or your tenant to go to the bank. Using a system like this allows you to collect rent incredibly conveniently, as tenants can pay quickly and easily online while saving time and energy. Many of these applications have the option for recurring charges. 


If you decide that this is the route you want to use to collect rent, it's important that your tenant is also comfortable using this application. For many tenants, the first of the month can feel frustrating because rent is a significant portion of their bills. However, if you have an automated payment system, it can give you and your tenant peace of mind. This is because, ultimately, it's no longer a concern to run to the bank or accidentally forget, which can result in more stress for your tenant.


You should take the opportunity, whenever possible, to make life easier for your tenant. This can lengthen your tenants' stay, resulting in an excellent tenant-landlord relationship. As we know, a happy tenant is a consistent tenant. Online payments are also accurate, can be tracked in real-time, and tenants can be notified when their rent has been received. This eliminates the need to manually check for payment accuracy, such as if the amount paid is correct.


Online Bank Withdrawals

Transferring money for rent through banks isn't anything new. That being said, in modern times, many processes that used to require a visit to your local bank can now be done online. Most banks have options for automatic withdrawals, though only some are comfortable with their banks having direct access to their money. Online payments are beneficial for both parties, because neither the tenant nor landlord needs to go anywhere but their phone or computer to pay rent. While not automatic, allowing your tenant to manage their payments themselves can end in the same result of a happy tenant.


Allowing a tenant the most options to pay rent is a good idea. This is vital to their comfort levels, and if rent is being delivered on time, regardless, there should be few issues.


Property Management Software

For a more comprehensive application for rent collection, you can opt to have your tenant use dedicated property management software such as Buildium or AppFolio. These applications often include rent collection features, among other tools landlords can find helpful like the ability to create a website for your rental property, or manage maintenance requests, among other features. Before you decide on these apps, they’re not built for every scenario. Many reviews for these apps recognize that AppFolio is best suited for landlords with over 50 units. Buildium, on the other hand, is built to work with different sizes and types of rental portfolios.


Collecting rent shouldn’t be stressful for either party. If you are looking for assistance in learning how to collect rent online or need a property management company to manage rent collection, we invite you to call us today at (562) 888-0247 or fill out our
Owner Application online.

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By Dustin Edwards 01 May, 2024
Everyone wants to feel safe in their homes. As an investment property owner, it's up to you to decide whether or not to include security measures in your property. Many of the costs associated with the security measures can be included in the rent, meaning not only can you keep your property safe, but you can earn more income in the long run. However, you would still want your tenants to have renters insurance to protect their assets. Today, we’ll discuss the top five security measures you can add to your property and why they're beneficial to you and your tenant. Security Cameras Cameras are probably one of the first security measures people think about when asked about security. Cameras provide more benefits than just surveillance. They provide an extra level of security for the safety of the tenants and their belongings. Additionally, security cameras can be useful when repairs are required. Cameras can aid in supervising repairs and maintenance to ensure you’re receiving the agreed-upon work. During vacancies when the property is empty, security cameras can help keep the property safe from potential intruders. Doorbell cameras are incredibly popular now. They provide the aforementioned safety of a camera that can be accessed remotely, as well as the ability to communicate with visitors. Although one must be careful never to say you're not home, just say you're unavailable to strangers. Security Lights Security lights with motion detectors are another effective tool when adding security measures to your property. These lights brightly if a potential intruder attempts to get near your home. They can provide enough illumination to see the intruder or, at the very least, scare them off. Nowadays, you can find a combination of security cameras and motion-activated security lights, such as the floodlight cam wired plus from Ring . Additionally, because these lights only turn on when motion is detected, they’re more cost-effective than traditional lights with a switch. Illuminate the Property Light generally deters intruders as it's more difficult to hide. Adding lighting to the landscaping can increase the security of the property while creating a relaxing atmosphere. Lights can also be used in other areas of the property to accent features such as trees, benches, or artwork. This can help your property stand out while giving your tenants an additional feeling of safety. Keyless Entry Keyless entry is seen as both a convenience feature and a security feature. They usually use an electronic passcode, biometric data, or grant access through a smartphone app. Physical keys can be lost, stolen, or duplicated. You reduce the risk of unauthorized entry by eliminating the need for a physical key to enter the property. Many keyless entry systems include several features, such as remote locking and monitoring. Although keyless entry is a great new technology for keeping your tenants and properties safe, they’re best used with other security systems. Security Company Nothing beats having an extra pair of eyes on your property for security. This is where security companies like ADT and SimpliSafe come in. While companies may deal with security in varying ways, they aim to protect your investment. While safety is the primary role of a security company, remember that many tenants may be willing to pay more for a premium amenity like a home security company. Keeping your property and tenants safe is incredibly important to the longevity of an investment property. If you’re looking to improve the security of your Long Beach rental property or need help managing your beach city rental property, we invite you to call us today at (562) 888-0247 or fill out our Owner Application online .
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