The Benefits of Setting Up Recurring Payments for Rent Collection
More than half of the population do not pay their bills on a timely manner just because they forgot to do so. Landlords who no longer want to remind their tenants of due rent payments, as well as tenants who like to improve their credit rating and rental history should think about setting up recurring payments.
This provides tenants with a “set and forget” alternative to make sure their rent payment is withdrawn from their bank account every month. Also, landlords do not need to go through the trouble of waiting for check payments, going to the bank to deposit them and recording payments in their records.
Landlords Will See a Reduction in Late Payments
Because of reminders and notices, it is a lot easier for tenants to remember that their rent payment is fast approaching. As a matter of fact, tenants can deposit money directly into the bank account of their landlords without having to know their banking details. In addition, there are also different ways to pay rent online like by means of:
Many tenants have gone through the stress of realizing that their rent payment is already due. At present, there are different options of online payment that save them the trouble of rushing to the bank or searching thoroughly inside the house to look for their checkbook. They just need to open their computer or use their phone and in a matter of minutes, their payment is taken care of.
Tenants Can View Bill Status Anytime, Anywhere
Tenants do not need to be caught unprepared with regards to their bill status. A lot of online rent payment platforms let them view their bill status 24/7. They can also benefit from easy digital records that enable them to forego the paperwork.
Rent Payments are More Secure
Paying rent online is among the most secure options for tenants and landlords alike. Tenants do not have to worry that their checks might get lost or stolen in the mail.
Online rent payments provide tenants with more security. On the other hand, checks contain bank information printed on the front part. Therefore, tenants who pay rent using checks are more prone to becoming victims of fraud.
Pay Rent Online From Just About Anywhere
In the above mentioned, paying rent online avoids the inconvenience of buying envelopes, stamps and checks. Tenants do not need to rush to the bank on time since all they need to do is long on to their computer or reach out for their phone to make a rent payment. They can imagine what it would be like to be able to pay the rent while enjoying some me time at a coffee shop or standing in line at a grocery.
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