Electronic Payment Solutions for Property Management Companies

Property management companies spend a great deal of time every month making sure their tenants pay the rent on time and then passing those funds on to the property owner. Your business can save a lot of time and money by converting these processes to electronic payments.

ACH processing allows your company to set up recurring payments. This way, the funds are automatically transferred from tenants’ bank accounts into the property management company’s bank account on the first of every month or whenever rent is due. You’ll no longer have to chase down tenants to make sure they pay the rent on time. And you’ll provide added convenience to your tenants, who won’t have to worry about forgetting to pay the rent each month.

You can also use ACH processing to pay the funds to the property owner. Through direct deposit, you can automatically transfer the funds to the property owner’s bank account without the hassle of issuing a paper check.

Credit cards are not ideal because of the fees on high ticket items like rent payments. ACH payments can streamline your processes at in insignificant cost.

Benefits

Save processing time
By setting up recurring payments for your tenants, you’ll spare your business the hassle of chasing after late rent payments. You’ll also eliminate the time you spend collecting paper checks and depositing them in the bank, as well as issuing paper checks to the property owner. Plus, the funds will appear in your account much more quickly with electronic recurring payments.

Increase convenience
Recurring payments and direct deposit save everyone the hassle of handling paper checks, including the tenants, property owner, and your business.

Reduce costs
Electronic recurring payments will save your business the costs associated with processing paper checks. In addition, if a tenant’s check ever bounces, ACH processing allows you to recover the funds much more quickly and easily.

Please call us toll free at 1-800-320-7258 for a free consultation!