Why Old-Fashioned Landlords Make Less Money
by Kris Rudeegraap
With businesses everywhere going electronic, the cost of paper is actually rising.
Ironically, that’s because we are using less of it. And it’s costing you money.
Consumers are overwhelmingly in favor of digital news and entertainment rather than schlepping stacks of coffee-stained newspapers down to recycle every month.
At a recent expo for publishers, the prevailing prediction is that after a number of paper mill closings, bankruptcy filings, and the skyrocketing costs of pulp and the energy needed to press it into a paperback or an envelope for your next rent check, paper may become something of a rarity – like 8-tracks and vinyl.
Thriving businesses have known for awhile that electronic data management and e-commerce save time, and money. So, why are you still collecting rent checks in the mail every month? Maybe you’re into vintage.
Truth is, electronic payments are actually more secure than snail mail, where your rent checks are easily lost or tampered with. A thief only has to be clever enough to follow the mailman around the block. And who wants to pine away, day after day, wondering if the rent check is, indeed, ‘in the mail’?
An electronic payment system is easier for tenants, and easier for you. They get confirmation as soon as their transaction is complete, and they can pay the rent right alongside other bills they pay online — while they still have the money.
You get the peace of mind that can only come from the ability to track your tenants 24/7 to make sure your money’s coming in.
Earth Day’s next week, where we turn our attention and ingenuity towards the future of our planet. That’s a perfect excuse to sign up for electronic rent payments. Do it to be green. It’s also a tough economy. The post office wants to halt Saturday deliveries to save money, and toss a whopping rate increase at us the beginning of the year, while those who do still make paper are having to charge more for it. Do it to save money. Do it to be smart.
Kris Rudeegraap is Marketing Coordinator for RentPayment, which provides a complete electronic payment service for properties to accept credit/debit cards and electronic checks for rent and security deposits, and check scanning services. For more information visit www.RentPayment.com, email Kris at [email protected] or call 1-866-289-5977 ext 212.
See our feature, Behavioral Economics: The Science of Paying Rent.
American Apartment Owners Association offers discounts on products and services for landlords related to your real estate investment including REAL ESTATE FORMS, tenant debt collection, tenant background checks, insurance and financing. Find out more at joinaaoa.
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