How many times have your tenants told you that "the check is in the mail?" With the busy lifestyle that so many people lead today, tenants will often send their rent checks late. You might have a rent collection drop box onsite, but checking the box every day becomes a hassle. Not to mention, when checks come in piecemeal during the month, you have to make multiple treks to the bank to deposit them.


You're not the first property manager to notice that collecting rent can be time consuming. The good news is that by giving your tenants online payment options, you can stop playing the rent payment waiting game. Instead, consider setting up an online payment portal and collecting mobile payments - which make rent payments quick and easy for tenants and landlords alike.


Online Payment Portal

Online payments help ensure you receive rent in a timely manner, and it's eco-friendly too! Tenants can pay using their debit or credit cards, eliminating many of your paper check payments. Plus, depending on how they pay, you might gain quicker access to your funds. Collecting online payments is easy using these simple options:

  • Landlord Station. Landlord Station offers rent collection options within our property management software dashboard. If you're looking for online payments in addition to services like tenant screening, we can combine multiple services within your monthly subscription in a way that suits your budget.
  • Online accounting software. Many online accounting software programs like QuickBooks Online and FreshBooks allow you to send invoices and collect online payments. If late payments are a consistent problem, you can add late charges directly into the invoice. These programs store your billing and payment information in one place, which becomes convenient at tax time. Make sure to identify any fees associated with subscribing to and collecting payments through these services.
  • Cash flow software. If you want less of a comprehensive accounting solution and more of something that just makes collecting receivables easy, check out online cash flow software like Some of these solutions allow you to accept not only credit and debit card payments but also ACH payments, which cost less to process. They also integrate with your desktop accounting software so that you can upload your transaction history.
  • Other portals. For simple payment collection, set up a PayPal account and ask your tenants to provide their e-mail addresses. You can invoice via PayPal, and they can send their payments to you. You decide whether you want to absorb the transaction fee or ask your tenants to pay the fee.

Mobile Payments

Mobile payment popularity is expected to skyrocket over the next decade or so, making this a timely service that you should be offering. Using mobile payments technology from your smartphone or tablet allows you to accept credit or debit card payments from any location. You can collect mobile payments in two primary ways:

  • Mobile credit card reader. Services like Square and PayPal Here provide you with mobile credit card readers that attach to your mobile device. Insert the reader into your phone, swipe your tenant's credit card, collect the signature on your touchscreen and e-mail a receipt directly to your tenant.
  • Mobile wallet. Both PayPal and Google Wallet allow you to accept mobile payments from tenants. If you and your tenants have both a mobile wallet app and an e-mail account, they can send money directly to you. You can also apply for a debit card from Google Wallet or PayPal, which allows you to immediately withdraw your rent money without waiting for it to transfer to your bank account (ATM fees might apply).

Providing Options

By setting up an online payment portal and accepting mobile rent payments, you can collect a lot more rent money while doing a lot less footwork. You also provide multiple payment options for your tenants, which makes renting from you an attractive option.

POSTED December 03 2014 1:52 PM

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