6 Reasons Why Properties Should Consider an E-Payment System
There have been many incidents and mistakes when tenants try to pay rent or make a money deposit. Rent payment checks stolen from drop boxes and employee fraud are small crimes behind the scenes at apartments that add up to big headaches for property managers. “I’ve heard stories of thieves using those static cleaners to lift checks and money orders out of drop boxes,” Also, we seen cases where tenants mistake in writing the check, or other having trouble with the mail system losing their money order.
Technology offered a more efficient payment form and structure, the creation of E-payment is the safest and fastest way to pay rent. Now you don’t have to go buy a money order, come back and drop it off at the office during business hours or in that drop box/black whole. It is much simpler, setting a virtual account with all your bank information allowing every month to schedule a rent payment.
Electronic money orders offer advantages for owners, managers and residents
- Convenience and Security for Residents
- Help Properties Eliminate Internal Fraud
- Process Efficiencies
- Integration in Property Management Software
- Cash Payment Validation
- Real-Time Posting to Resident Ledger
One of the main factors that E-payment could influence tenants, is the time they save. They are able to manage their schedule more efficiently by only giving an online click they have the rent payment solved. Also, this encourages tenants to avoid late fees by summiting payment in the last minute saving them money on extra charges.