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Are You Securely Collecting Rent Payments?

Dartmouth Tenant Paying Their Rent OnlineIf you are not using a secure online system to collect your rent payments, you may be placing your cash flows and your tenant’s bank information at risk. Rental payments collection is one of the biggest challenges Dartmouth rental property owners often face. The issue gets more problematic if you still rely on traditional methods of payment, like personal checks. This is because the process of collecting a check has so many potential delays and, increasingly, security concerns.

Whether the rent check is late due to mail delays or waiting for your bank to clear it, or you’ve been the victim of mail theft and had a rent check vanish from your mailbox, it’s hard to justify sticking to a system in which so much can go wrong. It is about time you started collecting rent payments securely if you haven’t already. Here are some of the top reasons why.

Tenant Convenience

The majority of tenants prefer making their rent payments online. With the convenience they get from online bills payment facilities, tenants also want this with their rent payments. Many people automate their monthly payments to avoid paying late, or worse, forgetting. It also offers tenants a way to use a range of payment methods to pay their rent, rather than relying only on a physical check dropped in the mail each month.

Improved Cash Flows

Receiving rental payments online typically results in more timely payments. Deposits arrive faster than personal checks clearing. Most payment platforms even let you check the payment status even before the funds reach your account. Wait times are significantly reduced, allowing you to spend less time on your collections process.

Better Security

Most of today’s best online rental payment programs offer enhanced security features that are designed to protect your tenant’s sensitive information. With the constantly looming threat of identity theft and fraud, giving your tenant the option to pay you securely might make it easier for them to consistently send those payments each month. Anything you do to ensure your tenant’s safety will be appreciated. And a happy tenant stays in their rental home longer.

Peace of Mind

While many platforms offer online rental payments, you may be having a hard time deciding which one to choose. Most options charge a fee for their services & might even include a long-term contract. They also usually make claims about convenience, quality, and security. Some rental payment platforms are still very new, so it is hard to validate if they live up to their advertising. Beware of online rental payment scams, so do your homework before signing up.

If you are concerned about who to trust with your monthly rent collection, consider the benefits of hiring Real Property Management Success to handle it for you. Our secure proprietary software offers tenants the convenience of making online rental payments and provides property owners like you total peace of mind. Along with quality, security is one of our top priorities, and something few other Dartmouth property management companies can offer. In short, we have the tools you need to make monthly rent collection one of the easiest parts of owning profitable investment properties.

We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.