More than half of the population does not pay their bills on time simply because they forgot to. Landlords who no longer want to remind their tenants of rent payments due, as well as tenants who like to improve their credit rating and rental history, should consider setting up recurring payments.
This gives tenants a “set it and forget it” alternative to ensure that their rent payment is withdrawn from their bank account each month. In addition, homeowners do not need to go through the hassle of waiting for check payments, going to the bank to deposit them, and recording the payments in their records.
Homeowners will see a reduction in late payments
Because of the reminders and notices, it’s much easier for tenants to remember that their rent is coming up fast. In fact, tenants can deposit money directly into their landlord’s bank account without having to know their bank details. In addition, there are also different ways to pay the rent online such as through:
websites
Text message
Mobile apps
Many tenants have gone through the stress of realizing their rent is due. Today, there are several online payment options that save you the hassle of running to the bank or digging deep inside the house to find your checkbook. They just need to open their computer or use their phone and within minutes, their payment is ready.
Tenants can view bill status anytime, anywhere
Tenants need not be caught off guard regarding the status of their bill. Many online rental payment platforms allow you to view the status of your invoices 24/7. They can also benefit from easy digital records that allow them to go paperless.
Rent payments are more secure
Paying rent online is one of the safest options for both tenants and landlords. Tenants don’t have to worry about their checks being lost or stolen in the mail.
Online rent payments give tenants more security. On the other hand, checks contain bank information printed on the front. Therefore, tenants who pay their rent with checks are more likely to be victims of fraud.
Pay rent online from almost anywhere
In the above, paying rent online avoids the hassle of buying envelopes, stamps, and checks. Tenants don’t need to run to the bank on time, as all they need to do is wait a long time on their computer or reach for their phone to pay their rent. They can imagine what it would be like to be able to pay rent while enjoying time at a coffee shop or standing in line at a grocery store.