10 Benefits to You When More Residents Pay Online
If you’ve been considering offering online payments to your residents, there’s never been a better time to implement them. The benefits to both your company and your residents are plentiful!
Here are my top reasons why you should make the jump to online payments.
1. You’ll save your staff time. Processing payments makes your staff spend their time on irrelevant tasks. Case in point: driving to the bank. Would you rather they spend their time sitting in traffic or helping to close leases?
2. You’ll save money. The cost to manually handle a check is considerably higher than having your residents simply pay online.
3. You’ll have less NSFs. You won’t have to chase residents about those pesky NSF checks anymore.
4. You’ll have less people in the office from the 28th – 5th. With move ins and move outs, we all know how crazy it is during this time of the month.
5. You’ll end up with less service requests to process. Because how many residents decide to make a complaint when they are dropping of a rent check? LOTS of them!
6. You’ll reduce delinquencies. Think about how many residents just forget to pay their rent when it’s due. Online payments lets them ‘set it, and forget it’ so their rent can be paid automatically.
7. You’ll lower your data entry. Who wants more data entry? No one I know!
8. You’ll have another amenity to market to prospective residents. If they’re paying bills online like the majority of Americans, they will probably expect this amenity from prospective communities.
9. You’ll stay competitive. In today’s heavy new construction market,you need any advantage you can get to help stay even or ahead of your competitors. Online rent payments have become an expectation of today’s tech savvy renter.
10. You’ll show your residents that you care about THEIR time. Allowing your residents to pay online saves them time too.
For more resources about increasing online rent payments, watch our recent webinar or download our infographic.