One top concern of all landlords is payment problems. Not getting paid can be a more concerning problem for landlords than tenants with criminal backgrounds or a troublesome eviction. With more than half of Americans paying a bill late due to forgetfulness, it’s no surprise landlords are concerned about their tenants’ monthly payments.

Thankfully there is a solution to this dilemma. Due to advances in technology, it is now possible for tenants to pay their rent online. Landlords and tenants alike both love this solution as it creates multiple benefits for everyone involved. Keep reading to learn more about the convenience and benefits of paying rent online.

Convenience of Scheduling Recurring Payments

As mentioned earlier, over half of the county’s population fails to pay bills on time simply because they forgot. If you’re a landlord who’s tired of reminding your tenants their rent is due, or if you’re a tenant who wants to improve your credit score and rental history, consider scheduling recurring payments.

This allows tenants to have a “set it and forget it” option to ensure their rent payment is automatically deducted from their bank account each month. This also saves the landlord the trouble of waiting for the check in the mail, going to the bank to make the deposit, and manually recording the payment in their accounting records.

Landlords Can Enjoy A Decrease In Late Payments

Due to the aid of notifications and reminders, tenants can easily be made aware that their rent is due soon. In fact, tenants can have the ability to put money directly into their landlords’ bank accounts without having to know any of the landlord’s banking information. To make things more convenient, there’s also a variety of online rent payment options, including:

  • Websites
  • Mobile Apps
  • Text Messaging

If you’re like most tenants, you’ve probably experienced the sensation of realizing your rent is due that very day. With the option of paying rent online, you no longer have to make a mad dash to the bank or scour the house for your checkbook. All you have to do is hop on your computer or grab your phone and within a few minutes everything is taken care of. Depending on the platform your landlord uses, you may have the option to pay your rent through any of the following means:

  • eCheck
  • Credit/Debit Card
  • SMS payments
  • PayPal

View Your Bill Status Anytime

Tenants no longer have to feel left in the dark when it comes to knowing their bill status. Many online rent payment platforms include the ability to view your bill status twenty-four hours a day, seven days a week. You also have the benefit of easy digital records, giving you a chance to skip the paperwork.

Rent Payment Security

Online rent payments are actually one of the most secure option for both tenants and landlords. Tenants no longer have to worry about checks getting stolen or lost in the mail. In fact, in a recent report made by the University of North Dakota in an Identify Fraud Consumer Report, researchers encouraged consumers to pay bills online whenever possible.

Online rent payments give tenants more security. Checks on the other hand, have bank information printed directly on the front. This makes it easier for tenants who use checks to become victims of fraud.

Make Rent Payments From Any Location

As mentioned earlier, online rent payments make it easy leave behind the hassle of purchasing stamps, checks, and envelopes. There’s no need to worry about getting to the bank on time when all you have to do is pull out your phone or log onto your living room computer to pay your rent. Imagine what it would feel like to have the ability to pay this month’s rent while you’re killing time at the coffee shop or standing in line at the grocery store.

With the younger generation paying 61% of their bills online, it makes sense for landlords to give their tenants the option to pay rent online. In fact, the National Multifamily Housing Council claims that 85% of people who pay their rent online are more likely to pay the next month’s rent as well.

Ready To Learn More?

As you can see, not only does paying rent online make things easier for tenants, it also makes things more convenient for landlords as well. With options such as scheduling recurring payments, getting notifications and reminders, being able to view your bill status 24/7, having the ability to pay rent from any location with internet access, and knowing your online payment is more secure than writing a check, it’s easy to understand why so many people are paying their rent online.

If you’re ready to enjoy the benefits of paying rent online, consider reaching out to your local property management company to learn more. If you live near Monterey County, Coast & Valley Properties, Inc. is available to help with all of your online rent needs. Get started today to enjoy all of the convenience, security, and benefits of having the option to pay rent online.