Fourth of July weekend just passed and for many us that meant fireworks, BBQing, and celebrations with friends and family.
As with any holiday that falls in the beginning of the month, renters frequently delay paying their rent until they are back from vacation. Many companies give their employees the 5th of July off which means rent checks might be delayed even longer.
These rent payment delays can cause headaches and cash flow issues for property managers, along with unhappy residents who are hit with late fees. These issues can all be resolved by simply accepting electronic payments.
Electronic payments such as credit cards and e-checks make paying rent on time much easier. Residents can pay online or by phone and also have the option of setting up a recurring automatic payment that debits their bank account each month.
With an electronic payment solution in place, property managers can focus more on closing leases and spend less time collecting rent.
For holidays like the Fourth of July, residents can easily setup a one-time payment before leaving on vacation or have their recurring payment setup months in advance.
If you have more questions about electronic payments or want more information about signing up please contact a payment expert at RentPayment today.
American Apartment Owners Association offers discounts on products and services forlandlords related to your commercial housing investment, includingrental forms, tenant debt collection, tenant background checks, insurance and financing. Find out more atwww.joinaaoa.org.click here.
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