3 Ways to Collect Rent Online with RentRedi
If you’re a landlord looking to collect rent online, you’re probably wondering about the easiest options out there.
Fortunately, there are many landlord payment services available. Property management software like RentRedi helps landlords and tenants collect and pay rent easily and automatically.
Below are 3 ways to collect rent with RentRedi! Check them out.
1. ACH/Bank
ACH/bank account is the most popular method to collect rent with a rental property management software. This option is the most affordable method for tenants to pay rent as well. It has an affordable processing fee on RentRedi—it’s only $1!.
To pay rent with an ACH, tenants can easily use their mobile app, which makes the process super simple. From their smartphone, renters open their app, tap the “Rent” button, and set up their account.
As a bonus, tenants can set up automatic payments. Additionally, they can even sign up for credit boosting to report their on-time rent payments to TransUnion and Experian. This way, you incentivize tenants to pay rent on time and via your property management software. And, they can build or improve their score!
2. Card
Card can is a popular option for tenants. If you have renters with credit or debit cards, they can set up this form of payment method in their RentRedi renter app and submit payments via their smartphone.
Additionally, you may wish to not allow cards as a way to collect rent. You can select this option right from your RentRedi dashboard. This way, tenants can only submit rent payments with ACH and cash (more below).
4. Cash
If you have tenants who pay their rent in cash, there is property management software that can help manage that. RentRedi enables tenants to pay rent with cash via our partnership with Chime
Tenants simply deposit cash at one of over +70,000 locations. Then, they complete the process via the ACH option in the RentRedi mobile app for renters.
Additionally, if you have tenants who still prefer to pay their rent in cash and in person, you are able to document the payment in RentRedi. Simply enter a manual payment record and make the charge as paid. This way, you can still manage and track all rent payments from one location. You can see who’s paid, who hasn’t, and more.
Collect Rent Online with Rental Property Management Software
Regardless of how you prefer to collect rent online, property management software can provide options for both landlords and tenants that make the process simple and easy. Between ACH, card, and cash, there is bound to be a rent collection method that works for both parties!
RentRedi’s platform makes it easy to track all methods of how you collect rent online and even has rental property accounting software you can sign up for that makes crunching numbers…well, not so crunchy! So rent collection and accounting are more like a nice big bowl of ice cream—with a cherry on top.
