Property managers have longed for nearly a decade for a complete solution for accepting rent via the ACH network and credit card networks like Visa, MasterCard, Discover, and Amex. Rentec Direct introduces merchant accounts designed with the property manager in mind, tied in directly with the tenant payment management system of Rentec’s property management software.
For every retail industry, being able to offer the widest array of payment options will produce the most sales. This fact holds true in property management as well. The property manager offering face-to-face, ACH (eCheck), and credit card payment options is going to sign more leases than the property manager who only accept face-to-face payments. Previously tying into the ACH or credit card networks has been a monumental challenge for the property management community; however, no more. Rentec Direct introduces merchant accounts for property managers tied directly into the tenant payment management system of Rentec’s property management software.
Property managers using the ACH network to automatically process rent payments tend to enjoy longer term tenants, and less late payments. Since the payments are automatic, the act of hand-writing the single largest bill each month for most tenants is not there and not on their mind, easing them into a longer tenancy which benefits both the tenant and manager. Automated ACH payments can be structured to land on the day after payday too to increase the chances of a successful payment and ensure rent is the first bill paid each month.
Landlords using the credit card networks get to offer flexibility typically unavailable in the rental market. From a tenant’s perspective, having the option to make use of their credit for paying rent is very attractive. A huge worry for tenants in today’s market is if they will be able to afford rent if they have a hard month. Knowing they can use their credit card in an emergency to remain in their home is a very attractive solution which eases that worry. Some tenants even may prefer to earn rewards on their rewards cards faster by using their credit cards monthly, which is something now available for property managers through Rentec Direct. Landlord’s have the flexibility to pass on their processing fees to the tenant, or pay them their-self.
Learn more about Rentec Direct’s merchant account solutions at http://www.rentecdirect.com/.
About Rentec Direct
Rentec Direct provides property management solutions for managing properties, tenants, and owners. Other popular solutions offered by Rentec are tenant ACH payments and credit & criminal tenant background screening.
Tagged with: automated clearing house • Business • Credit card • Credit Cards • Credit score • Economy • FICO • Financial • Home Sales • Industry • Lender • Loan Broker • Markets • MasterCard • Merchant account • Mortgage Rate • Property management • property manager • Real estate • rent payments • Rental Property • Rentec Direct Mortgage Loans • tenants • Visa
Filed under: Real Estate