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Are You Securely Collecting Rent Payments?

Brandon Tenant Paying Their Rent OnlineAre you already using a secure online system to collect your rent payments? If not, you may be placing your cash flows and your tenant’s bank information at risk. One of the challenges Brandon rental property owners often face is collecting rent payments. 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. Let’s take a closer look at some of the top reasons why.

Tenant Convenience

The majority of tenants prefer making their rent payments online. It is more convenient for tenants to pay their rent alongside the other bills they already pay online. Most people also prefer to automate their monthly payments to lessen the chance of paying late. 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

Letting your tenants make their rental payments online typically results in timely payments, with deposits arriving days faster than it takes to clear a personal check. There are also payment platforms that 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. Because of the threat of identity theft and fraud these days, allowing your tenant to make their rental payments securely will make them feel better about paying them each month. The simplest things you do to add to your tenant’s safety are likely to be very much appreciated. And a happy tenant stays in their rental home longer.

Peace of Mind

With the many platforms that offer online rental payments, you may be wondering which one to pick. Most options charge a fee for their services & might even include a long-term contract. There are also the usual claims about convenience, quality, and security; although some rental payment platforms are so new that it’s hard to know if they do live up to what they advertise. To avoid online rental payment scams, check everything carefully before signing up for any service.

If you are concerned about who to trust with your monthly rent collection, consider the benefits of hiring Real Property Management Empire to handle it for you. Our secure proprietary software offers your tenants the convenience of making online rental payments and providing property owners like you total peace of mind. Along with quality, security is one of our top priorities, and something few other Brandon 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.

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