Tag Archives: electronic payments
Posted on 28. Apr, 2015 by Vanessa Naranjo.
Paying rent via check is withstanding the test of time, a problematic trend for property managers who want to transition to electronic payments. The rental market covers a large demographic of economic classes that includes “the very rich, the very poor, and everything in between.” Some renters have bank accounts, and some don’t, which makes it […]
Posted on 17. Jun, 2014 by Mary Girsch-Bock.
As important as it is for property managers to ensure that rent is received on a timely basis; rental collection is not just important to property managers. Surveys have shown that residents also want an easier way to pay rent. While many smaller management companies have continued to accept checks, many have done away with […]
Posted on 03. Jun, 2014 by Marc Courtenay.
Other than filling vacancies, there are few topics more important for Property Managers than how to make sure your residents pay their rent on time and securely. From a behavioral vantage point, there are several effective ways to empower residents to pay their rent or lease payment on time, month after month. Here are three […]
Posted on 08. Apr, 2014 by Marc Courtenay.
Don’t let what happened to a property management company in Las Vegas, Nevada happen to you. The company had set up a convenient lock box so residents could drop off their checks after hours. The worst case scenario unfolded on a hot summer’s evening in July when thieves who had noticed the drop box of […]
Posted on 14. Jun, 2011 by Mary Girsch-Bock.
While many property management companies have been offering an online rental payment option to residents for years, there are just as many who currently do not. And the management companies that currently do offer this option have found that only a fraction of their residents actually utilize an online rental payment option.
Posted on 24. Jun, 2010 by Aimee Miller.
We recently held a contest and asked property managers to guess the true cost of processing a monthly rent check. Property managers from all over the U.S. submitted their best guess and were automatically entered into a drawing to win a super cool Flip Video Camera.
Posted on 28. Apr, 2010 by Jim Semick.
A single check seems small enough. But added up, the checks your property management company deposits or prints can ultimately bury your staff under a mound of paper. If you are on the way to a paperless office but haven’t yet tackled electronic payments for receivables and payables, you are paying more than you need to run your operation.
Posted on 24. Mar, 2010 by Jim Semick.
It’s rent week again, and all hands are on deck. If you’re like many other property management firms, you have an unwritten rule: no vacation during rent week. You realize that rent checks cost your company time and money with unnecessary handling, data entry, errors, staff frustration and other inefficiencies. Surely there has to be a better way.
Posted on 11. Feb, 2010 by Jim Semick.
More property management firms are discovering that they can save a significant amount of time and reduce headaches during rent week by moving their resident rent payments online using ACH (automated clearinghouse) and other electronic methods.
Posted on 28. Jan, 2010 by Jim Semick.
Sure, the lowly check will be with us for a while. But that doesn’t mean that you can’t help send checks the way of the dodo bird. According to a Federal Reserve System study, check usage is in steep decline, and checks now represent only 30 percent of all non-cash payments. Electronic payments are now the clear winner with consumers.