Are there any advantages to paying rent online?

Problems with rent payments are one of the main concerns of all landlords. However, they are more concerned about not getting paid than about having tenants with criminal histories or troubled evictions. Over 50% of Americans don’t pay their bills on time because they simply forget. For this reason, landlords are concerned about the payments of their tenants.

Fortunately, there is an answer to your problem. The advancement of technology has made it possible for tenants to pay their rent over the Internet. Homeowners and tenants love this solution as it offers many benefits for both parties. In this article you will discover why paying your rent online is convenient and beneficial.

Scheduling recurring payments is convenient

As mentioned above, more than 50% of the country’s population forgets to pay their bills on time. Whether an individual is a landlord who is fed up with reminding his tenants to pay rent or is a tenant who likes to boost his credit score and improve rental history, he may choose to schedule recurring payments.

This payment option allows tenants to “set and forget” to ensure that their rent payment is withdrawn from their bank account each month. Plus, this saves the homeowner the hassle of waiting for the check, lining up at the bank to deposit it, and manually recording the payment in their ledger.

View the status of the invoice at any time

Tenants will no longer ignore the status of their invoice. Many online rent payment platforms allow tenants to view the status of their bills anywhere, anytime. These platforms also have simple digital registrations, allowing them to skip the paperwork.

Secure rental payment

In fact, paying rent online is among the safest options for landlords and tenants. Tenants need not worry about checks and personal information getting lost in the mail, or worse, stolen. In fact, according to an official report, the University of North Dakota reported that researchers are encouraging consumers to pay their bills online whenever they can.

Tenants are safer with online rent payments. On the other hand, checks contain bank information that is printed on the front. This makes tenants who use checks more vulnerable to fraud.

Make rent payments from anywhere

As stated above, paying rent online takes the hassle out of purchasing checks, envelopes, and stamps. Tenants do not need to run to the bank to be on time. They just have to get their phone or log on to any computer to pay their rent. You can imagine how it feels to pay your month’s rent while hanging out at a coffee shop or standing in line at a grocery store.

The younger generation pays 61% of their bills online, so it makes sense for landlords to give tenants the option to pay rent online. In fact, according to some studies, 85% of people who pay rent online are likely to pay their rent next month.