Making rental payments as easy as possible on tenants means you have a higher chance of being paid on time. With so many options, it can be difficult to choose the best online rent payment solutions for your investment. There are a few things to consider before making a decision.
The experts at Rent Rescue recommend Cozy, PayYourRent, Avail, TenantCloud, and SparkRental. These companies offer a variety of features depending on your needs and size of your rental portfolio.
When deciding on the best company to choose, you need to look at their payment options. ACH transfers mean you have the money faster, but they often come with higher fees. Connecting to other services such as PayPal or Stripe may mean a one-to-two-day delay in payments, but many renters likely already use these types of services.
Investors with multiple properties may want scheduling options. Some services offer tenants the ability to automatically pull funds from their account. Rent reminders can ping them before rent is late automatically. These features can help streamline the process.
When choosing the best online rent payment solutions for your rental properties, make sure it is both convenient and secure. Keeping rent payments easy to make helps improve the likelihood of being paid on time.