Pay Rent Tenant, Pay Rent Online
According to National Multi Housing Council (NMHC), only few apartment companies, property management companies and landlords accepted electronic rent payments few years ago. However, the residential rental industry has adopted the technologies to enable tenants to pay rent online. This improves the overall experience for tenants and lowers costs for the apartment industry, property management companies and landlords.
However, very few tenants are taking advantage of these new payment options. The NMHC report “Automated Payments: Progress and Challenges” shows the experience of the surveyed apartment companies.
The major roadblock for lack of adoption of online rent payments is the convenience fee that is charged to tenants. Majority of the respondents to survey reported that they pass these convenience fees to tenants. However, tenants are not willing to pay these convenience fees and so still pay rents by check.
Read Apartment Industry Lags in Online Payments, According to National Multi Housing Council Survey by CLICKING HERE
This blog post is brought to you by SimplifyEm Pay Rent Online and Property Management Software
This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies. Online Rent Payment and Collection lagging for Apartments is brought to you by SimplifyEm Pay Rent Online and Property Management Software
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