Experience The Best Online Rent Payment Services
From a property management point of view, the best online rent payment service is one which leaves you free to concentrate on your business without having to worry about dealing with the day to day problems of payment collection. Thanks to BillingTree’s comprehensive payment services suite, property management companies can enjoy a speedier, more convenient and highly efficient solution that offers impressive benefits to both landlords and residents.
The Benefits Of BillingTree’s Virtual Terminal
BillingTree’s Virtual Terminal is the best online rent payment service for today’s busy property managers thanks to the many advantages it brings:
- With virtually instant payment verifications, property management records are immediately updated, reducing workload.
- Client satisfaction is increased thanks to the instant confirmation of their payment and the ease with which they can pay their rent.
- It is easier to track payments since late fees, sales-based percentages and partial payments are all immediately recorded and paired with the correct account.
- Payments are more accurately matched to accounts to prevent fraud.
- Electronic payments ensure that time is saved when preparing for audits.
- Improved rent collection times and faster payments.
- Residents will appreciate the flexibility and convenience of making online payments from their PC or mobile device rather than having to write out endless checks.
- Seamless integration with existing software and interfaces.
The Role Of The Community Association Manager
Community association managers are in high demand these days, and rightfully so, as they deal directly with tasks such as dealing with tenants to save landlords the time and hassle of collecting their monthly payments, to dealing with repairs and maintenance and overall liaising with residents. One of a property management company’s key roles is to operate efficiently and profitably that includes the collection of rents and fees, and subsequently, the secure storing of the data involved in these transaction in order to comply with PCI and IRS regulations. Taken altogether, all of these factors combine to clearly show that the addition of an online portal and virtual terminal for residents to securely and conveniently make their monthly payments is truly a Win-Win-Win for CAMs, residents/tenants and the property management company itself.
Although most people are now used to making online payments when purchasing items and settling bills, a surprising number of residents and tenants still pay their rent with a check. However, the addition of online payments through a virtual terminal, like that supplied by BillingTree, reduces the transaction steps, increases security and speed, and makes the entire process more secure and convenient for all parties involved.
Increasing On-Time Payments
Receiving payments in full and on time is key to running a successful property management company, and taking advantage of BillingTree’s integrated API suite is the best way to increase the number of on-time payments made by residents and tenants. By offering many convenient payment options such as debit and credit cards, automated payments and bank transfers via a virtual terminal, property managers will be giving their residents a useful 24/7 tool for paying their rent online, wherever they may be, through their computer or smartphone. As tenants appreciate the benefits of being able to make a speedy and straightforward online payment rather than having to pay in person or by using a check, property management companies can also foster a more positive resident/landlord relationship by investing in BillingTree’s online rent payment service.