About 44 million American households are renters. That means 44 million households are paying rent every month. How are they doing it?

There's no right or wrong way to pay, but there is one rent collection method that's more convenient than the rest: a tenant portal. That's right, a tenant portal is the best way to collect rent.

But why is that? Let's talk about it. Read on to learn why a tenant portal is one of the best rent collection options (as well as some alternatives for those who prefer not to use digital payments).

It's Quick and Easy

When you choose to use an online portal for rent payments, you're choosing the quickest and easiest option for both you and your tenants.

When a tenant wants to use a check, they have to first find a check. Experts suggest that checks may be obsolete within the next few years, so many people don't just have them available anymore.

Then they have to mail the check to you, so they need to take time to fill out an envelope, get stamps, and get to the mailbox. These are small tasks, but they're still time-consuming.

It's possible for checks to disappear in the mail and that can put your tenant's money at risk and it can set the whole timeline back. This is also true with mailed cash payments. It's simply not reliable.

With a tenant portal, it takes a matter of seconds to pay rent every month. Tenants can even set up auto-pay so it takes no time at all out of their day.

Convenient Payment Reminders

Your tenants are humans, and that means they can make mistakes. Forgetting a rental payment every now and again happens. Lives get busy and sometimes the first of the month happens before you know it.

With a tenant portal, tenants have a lower chance of missing rent. You can set up rent payment reminders so tenants get emails on the days leading up to the first of the month.

Late rent payments may still happen from time to time, but they shouldn't happen as often. This is better for you and better for your tenants because they won't have to deal with late rent fees.

The Alternatives

So what if your tenants don't want to use an online portal?

This can be tricky, especially if you're a landlord who lives far away from your rental property.

You could, of course, allow checks and have tenants mail them in. You could also work together with your property management company to set up some type of in-person payment (checks or cash) so tenants don't have to worry about mailing anything.

A Tenant Portal Is Best for Rent Collection

If you're looking for a new way to collect rent, a tenant portal is the way to go. Make rent collection easy for you and your tenants by moving it all online.

Collecting rent doesn't have to be a challenge!

Are you looking for an excellent property management team in Charlotte, NC to make your life easier? We've got you covered. Contact us to learn how we can help you today.