If you’re a landlord then you know at the beginning of the month that you have to track down all your tenants and make sure they’ve paid their rent. If someone hasn’t paid rent then you have to print up late payment notices as well as eviction notices if it’s a certain amount of days after the 1st. The process itself is very time consuming not to mention there can be many mistakes that are made accidentally. More and more managers are starting to use property management software which allows for renters to make online payments thus making the manager’s job a lot easier. There are several different aspects of the software that managers can use to their advantage.

One of the easiest methods for making payments is via an automated withdrawal system. This system is setup not using the internet but in the office between the manager and tenant. The tenant will give the manager the bank account number and routing info and then sign a paper consenting to the automated payments. If the bank account doesn’t have the proper funds in it then the tenant will often be charged the fees that the landlord gets charged. However the problem is that managers are unable to edit the amount that gets charged to tenants. This means that any other charges, such as water, will have to be a separate payment.

Another solution to money orders and paperwork is online payments. There are two types of online payment systems that managers can use. The first is by having tenants make payments using credit or debit cards. This is a great system for landlords as they can have all the payments recorded on the spot and not have to deal with tons of paperwork. If they want to see who has paid rent all they will have to do is check the software.

Finally you can also set up an online payment system where you use your bank account to pay your rent but it’s not automated. This system works best as there are no fees as there would be with credit cards.

Both types of online payment systems can be very handy for managers as they automatically record when a tenant paid, how much they paid, and several other pieces of information if setup correctly. Using an online payment system can save landlords a lot of time and effort as well as make it easier on the tenants to pay their rent.

Layla Vanderbilt is the webmaster for a leading property management solution review website which connects people with the leading property management tools.