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5 Compelling Reasons to Encourage Online Rent Payments

Posted by Joseph Slonimsky on Dec 25, 2012 2:00:00 PM
Joseph Slonimsky
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ERP-SecurityAs busy property management professionals, we juggle a lot of tasks on a day to day basis. Perhaps none is quite as important as collecting payments. Yet, running around and collecting checks, or waiting for them to arrive via snail mail can cause delays and negatively impact the cash-flow of your organization. The good news is there’s a much easier way! By encouraging your clients to pay online, you can eliminate these costly delays and improve the efficiency of your business as a whole, while also offering a more convenient option that just might give you a leg up on the competition.

Still not sure if online rent payments are for you? Here are 5 compelling reasons you should be using this feature for your property management business.

More Secure

Paper checks come with an inherent risk of being lost, mishandled or compromised. Online payments provide a much more secure way to deliver money from one account directly into another, without it having to be handled by multiple third parties in the process.

Find out what more you can do to boost the productivity of your property management business. Download a free copy of The Property Manager’s Guide to Maximizing Productivity.

Improve Internal Efficiency and Accuracy

When you remove manual payment handling from the equation, you instantly reduce the risk of human error. And because your staff will be able to spend less time manually processing payments, they’ll be able to focus their time and efforts on other important tasks.

Save Time

When you compare the time it takes for mail to be delivered, or worse – for you to have to physically pick up payments, to the time it takes for an electronic payment to come in, there’s really no comparison. You and your staff will save a significant amount of time just by shifting to online payments, and we all know that time is money!

Improve Cash-Flow and Funds Management 

With electronic payments, you no longer have to wait for checks to clear in order for the money to become available in your account, so your overall cash-flow will see a boost. What’s more, problems like insufficient funds are also detected much quicker with online payments, making the management of your accounts much more proactive.

Enhance Customer Satisfaction

Let’s face it – we’re living in a much more mobile and tech savvy society. People are relying on the internet to handle almost all of their day to day activities now, from communication to networking to managing their budgets. Online bill payments offer clients that added level of convenience that they’ll appreciate, which just might give you the competitive advantage you need to get ahead.

So, with all of these awesome benefits, you’re probably asking yourself how you can implement this feature for your own organization. Easy. Simply choose a property management software solution that offers online payments and other convenient interactive web options and you’ll be in business. Once you do, you’ll be amazed at how powerful this one little feature will be for the success of your organization.property_managers_guide_productivity

Find out what more you can do to boost the productivity of your property management business. Download a free copy of The Property Manager’s Guide to Maximizing Productivity.

Topics: Productivity, Blog, News, Technology, Property Management

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