It doesn’t matter what level of landlording you do, be it a handful of units or running an LLC with a broad portfolio, you have a lot of work on your hands. Fortunately, there is technology available that can help streamline the tasks you have to do on a regular basis.
One of those tasks is collecting rent and doing so in a timely manner. Consider simplifying your life with the best rent collection software currently available for landlords who want to make their lives easier.
Avail is one possibility to look into. Tenant screening lets you avoid potential problems since you can review credit records and background checks to find great applicants. There are even links to set up direct deposit so that rental funds go straight into the bank account of your choice.
RentRedi is a piece of software that property owners and managers can use to take care of their business. This platform won’t just easily collect rent payments but also allow for rental applications, prequalifications, tenant screening, and maintenance requests.
Yardi Breeze is another option in the category of rent collection software. However, this inclusive platform makes things convenient by also including accounting and marketing operations as well. There are no fees for support, training, or onboarding, and monthly fees start at just $1 per unit for each month.
Collecting rent is the whole point of leasing or renting out units, be they residential or retail. Timely collection of rent is crucial to maintaining your cash flow and paying for all the expenses involved with property management, including payroll, taxes, utilities, services, and various contractors and vendors.
Sending out rent reminders makes it easier to collect rent from many renters. However, you also need to make it as convenient as possible to collect that rent, too. These platforms create easy ways for tenants to pay at their own convenience online using debit and credit cards. Also, some even allow for cash payments to offer even more options.
Late fees and other penalties can also be built into these systems as another means of encouraging residents and renters to pay their lease amounts on time, lest they face consequences for being late with the money that they owe.