Being a landlord can be a lot of work, so you should always welcome opportunities to lighten your load.

If you're tired of chasing down your tenants for rent money, then you should take your rent collection online. Most tenants prefer to do it this way and it's going to solve a lot of problems in the whole process. Although it takes a bit of figuring out in the beginning, you'll soon realize that it's more convenient and reliable than the old-fashioned rent-collecting methods.

Today, we're going to help you by walking you through how to do online rent collection. Read on and you'll get your rent payments on time, every time.

The Benefits of Online Rent Collection

There are numerous benefits to collecting your rent online, the most obvious being time savings. Taking time out of your schedule to go pick up rent cheques and chase down late payments isn't something any landlord wants to do. Doing it all online allows you to easily keep track of who has paid rent and when making it easier to keep track of tenants and do your accounting.

You'll also get the money faster. When you use an online service to collect rent, you get it in one or two business days. Sometimes there are holds on cheques that can delay the process for long periods of time, which, if your rental property is a big part of your income, can be frustrating. If your tenant is having trouble making rent payments, please click here.

Collecting Rent Online

There are a few easy ways you can set up online rent collection with your tenants. An electronic funds transfer (EFT) is one of the most popular ways, but you can also use one of the numerous P2P online payment services.

PayPal, Zelle, and Square are 3 of the biggest names in online rent collection. When you sign up for these services, a tenant can connect their bank account to their online payment account and send same-day money transfers. You'll have the money deposited in  your account within a couple of days.

Another great option is to hire a property manager to collect rent for you. Online rent collection through our property management service is a breeze.

We'll set it all up for you so your tenants send us money online and you can access it almost immediately through our online portal. If you're already thinking about hiring a property manager to take care of other tasks, like screening tenants and caring for your grounds, online rent collection is another perk that you'll get.

Get With the Times and Get Your Money Faster

Now that you know how easy rent collection can actually be when you do it online, you can figure out which method is best for you and start getting your money faster. We live in a digital world and collecting rent online is simply the easiest and quickest method to get the rent from your tenant into your bank account. Take this task online and change your life as a property owner forever.

If you're looking for the best property management in the Charlotte area, Carolina Property Management is the way to go. To learn more about us and how we help property owners, visit our site today.

For information for landlords on security deposits, see this link. https://www.carolinaspropertymanagement.com/blog/security-deposits-what-should-landlords-know