Collecting rent in-person might soon be a thing of the past. If you’ve been looking for the opportunity to modernize your rental business, mobile rent payments is the way to go.
But, it can be scary to move rent collection into the online space. However, setting up mobile rent payments can be beneficial for both tenants and landlords who are wanting to save time, reduce face-to-face meetings, or simply go mobile and manage everything from your phone.
Everything is done from a phone
Almost anything can be done from that little device in the palm of your hand, and most renters are also smartphone owners. It makes sense to set up a method of sending and receiving mobile rent payments for both tenants and landlords.
It doesn’t matter if you’re on-site or not
If you’re social distancing or long-distance, mobile rent payments are far easier to collect. From your RentRedi dashboard, you can see upcoming rent payments or late rent payments and easily keep track of everything in one place.
Tenants can pay from anywhere
If they happen to be away, staying with family, or travelling, tenants may have some anxiety around how they can pay their rent. However, with mobile rent payments, they can still open their RentRedi app and pay their rent for the month,
It makes accounting easier
When it comes time for your accountant (or yourself!) to review prior payments, mobile rent payments are easy to export right to Quickbooks Online or spreadsheets from RentRedi. Let’s face it, accounting isn’t always fun, but not having to scramble or search through papers for payment history.
You can accept partial or block mobile rent payments
If you are moving to deferred rent payments or accepting partial payments, mobile rent collection can be a good way to go. If you need to, you can even block payments, especially if you have an in-process eviction that is currently stalled due to the moratoriums on evictions and foreclosures. This is key especially if later down the road an eviction occurs and you want to prevent the tenant from submitting any payments and extending their stay.
Importantly, collecting rent in-person right now presents potential health and safety hazards for you and your tenants. Read more about the best way to pay and collect rent for landlords and tenant. If you’ve been looking for the opportunity to modernize your rental business, mobile rent collection is the way to go.