Best Online Rent Payment System & Service for Tenants – How to Accept Rental Payments
Want to accept rental payments online? Usually, you’d have to research the best online rent payment systems you can use to collect rent.
But never fear! You don’t need to go further than this post to investigate your options, we’ve done all the research for you.
Read along for features you’ll need to collect online rental payments.
Features of Best Rent Payment Systems
The best online payment system will offer a variety of options you can use to accept rental payments and receive rent. You’ll also want features for paying rent that your tenants will enjoy.
Good features for landlords will include:
- Custom charges (for rent, utilities, parking, and other bills)
- Automatic rent reminders
- Automated rent charges
- Automated late fees
- Block or accept partial payments
- Unlimited payment accounts
- Set flexible payment options for tenants
Good features for tenants to pay rent will include:
- Web and mobile apps to pay
- Automated payments
- Credit reporting
- Flexible payment options like card, cash, or ACH
It’s important to offer tenants a way to make a rent online payment so they can easily submit payments on time. Submitting rent on time is important to you and the tenant. So, an online rent system can show tenants how easy it is to use an app to pay rent.
Best Way to Accept Rental Payments Online
How to accept rental payments online will vary on the type of platform you use. If you use RentRedi, after you create your account and set up your payment accounts, you simply create charges that are automatically generated in the tenant’s app!
For landlords, after RentRedi’s nominal subscription fee, you can accept rent payments online free. For tenants, there is a processing fee to submit an e rent payment via RentRedi. A bank transfer rent payment (ACH or cash) is only $1. For credit card payments, the processing fee is 3.1% plus $0.30.
How Tenants Can Make a Rent Payment Online
An online rental payment system can offer great benefits for tenants, as listed above. Also, offering a tenant web access payment option like RentRedi can help tenants boost their credit score by paying on time.
For you to accept rental payments via RentRedi, all tenants have to do is sign up using the web portal or download the mobile app, tap the charge they wish to pay, set up a payment method, and submit payment!
When you and your tenants use online rent payment services like RentRedi, they can sign up for credit boosting which reports on-time rent payments to TransUnion and Experian. This, in turn, helps builds a tenant’s credit score! Additionally, tenants can make it even easier by setting up automatic rent payments.
Best Online Rent Payment System & Service for Tenants – How to Accept Rental Payments
There you have it! The best online rent payment system will offer you all the features listed above. Services like RentRedi offer these features because we know how critical it is to get rent collected on time for landlords and how to make paying rent stress-free for tenants.
If you’re interested in learning more about how RentRedi makes it easy for you to accept rental payments on time, message into our chat button in the bottom right corner or sign up here!