Paper checks have been around a long time, but you likely rarely use them—unless you’re still using them to collect monthly rent from your tenants. If you’re still asking renters to send their rent in the mail, you may want to reconsider your payment methods. Between the inefficiencies, delays, and rising cases of check fraud, it’s time to bid adieu to the physical rent check.
Enter online rent payment systems, an easier and more secure way to manage rent collection. Unlike a check in the mail, online payment solutions are convenient, hassle-free, and can be automated to simplify the process of collecting rent. If you’re ready to make the switch, we’ve compiled a list of the nine best online rent payment systems and what makes each of them the best solution for your needs.
The best online rent payment systems
There are several online rent payment systems available to make rent managing and collecting rent payments easier. Here’s some of the top options:
RentSpree Rent Payment
Key features:
- Request one-time payments like security deposits or pet fees
- Supports multiple payment options including ACH transfer, credit and debit card
- Automated payments so tenants never miss rent
- Manage all payments in one dashboard, even those made outside of Rent Payment
- Powered by Stripe for secure transactions
- Rent reporting tools offered to tenants to encourage on-time payments
Why it’s ideal for landlords:
RentSpree Rent Payment is a reliable, powerful, and user-friendly platform that simplifies the payment process to take the stress out of rent collection. With Rent Payment, landlords can easily set up recurring rent, schedule reminders to minimize the risk of a missed payment, and have payments directly deposited into their bank accounts. Additionally, landlords can easily organize their payment activities to simplify bookkeeping for tax season and, best of all, Rent Payment is free for landlords to use.
RentPayment from MRI Software
Key features:
- Supports multiple payment options including ACH transfer, credit and debit card
- Mobile app for convenient payments on the go
- Recurring payment options for added convenience
Why it’s ideal for landlords:
With RentPayment, you can offer tenants multiple payment options that best suit their needs in a mobile-friendly app they can access from anywhere. RentPayment also allows landlords to set recurring payments so tenants never miss a payment and provides renters with the option to break their payments up over the course of the month
Avail
Key features:
- Online rent collection and payment tracking
- Automated payments so tenants never miss rent
- Supports multiple payment options including ACH transfer, credit and debit card
- Upgrade to FastPay for next-day rent payments
Why it’s ideal for landlords:
Avail’s online rent payment system offers a comprehensive platform that not only handles rent payments but also offers landlords additional tools for lease management. Landlords can customize payment requests from tenants and upgrade to Avail’s Unlimited Plan to expedite the delivery of rent payments directly to their bank accounts.
Appfolio
Key features:
- Automated payments so tenants never miss rent
- Online recurring rent and one-time payments
- Integrated accounting and reporting
- Mobile app for on-the-go access
Why it’s ideal for landlords:
Appfolio is great for landlords seeking a multi-use platform with a range of features, including rent payment, financial tracking, and easy communication with their tenants.
Yardi Breeze Rent Collection
Key features:
- Supports multiple payment options including ACH transfer, credit and debit card
- Streamlined online rent collection
- Real-time financial reporting
- Automated payments so tenants never miss rent
- Accounting features like reports and budget tracking
- Manage delinquencies and collections
- Upgrade to manage rent deferral payments and accounting
Why it’s ideal for landlords:
Yardi Breeze Rent Collection is ideal if you want a straightforward platform for rent payments with the option to upgrade for more powerful accounting tools. With Yardi Breeze, landlords can easily manage multiple properties while providing their tenants with an easy-to-use payment system that takes the hassle out of paying rent.
Buildium
Key features:
- Supports multiple payment options including ACH transfer, credit and debit card
- Automated payments so tenants never miss rent
- Payment and expense tracking
- Accounting and financial reporting tools
- Request one-time payments like rental application fees
Why it’s ideal for landlords:
Buildium is a top choice for landlords looking for an intuitive platform that helps them set and forget rent payments. Additionally, Buildium allows landlords to customize convenience fees, determine what payment options renters can use, and experience fast payouts once residents complete a transaction.
TurboTenant
Key features:
- Supports multiple payment options including ACH transfer, credit and debit card
- Automated payments so tenants never miss rent
- Powered by Stripe and Plaid for secure transactions
- Automatic late fees and rent receipts
- Integrated rental accounting tools
Why it’s ideal for landlords:
TurboTenant is a convenient online portal where landlords can manage and get the full picture of all their payments while ensuring their residents pay on time, every time. With TurboTenant, landlords can also access features like automatic rent receipts and late fees, rent reporting tools, and extensive records to keep their financial books in order. Best of all, TurboTenant is free for landlords to use.
Doorloop RapidRent
Key features:
- Supports multiple payment options including ACH transfer, credit and debit card
- Automated payments so tenants never miss rent
- Complete suite of accounting features to track payments across multiple properties
- Powered by Stripe for secure transactions
Why it’s ideal for landlords:
DoorLoop RapidRent’s intuitive interface makes it easy for landlords to navigate and manage your payments, providing a seamless and user-friendly experience. With RapidRent, landlords can ensure they’re paid on time, every time with automatic late fees and alerts applied to every tenant.
Zillow Rental Manager
Key features:
- Supports multiple payment options including ACH transfer, credit and debit card
- Online rent payment and financial tracking
- Automated payments so renters never miss rent
- Request one-time payments like security deposits or pet fees
- Powered by Stripe and Plaid for secure transactions
Why it’s ideal for landlords:
Zillow Rental Manager offers a comprehensive set of features, including rent payments, application submissions, and effective communication channels. Landlords can rest easy knowing the automatic payment feature ensures they’ll be paid on time, every time and rent payments are deposited directly into a landlord’s account.
How to pick the right rent payment system
With so many options available, choosing a rent payment system can be tricky. In addition to comparing the feature sets each platform provides, consider the following factors when identifying the payment solution for your needs:
- Security measures: Prioritize platforms with encryption and partner with industry leaders to safeguard your financial data.
- Affordability: Be aware of any fees associated with payment methods or services, and who bears the cost of those fees.
- Payment method compatibility: Ensure the platform supports your preferred payment methods while offering tenants a variety of options to choose from.
- Automated recurring payments: If you prefer automated payments, ensure the rent payment system supports scheduled recurring transactions for convenience.
- Usability: When selecting a payment platform, look for tools that offer easy-to-navigate interfaces and mobile options for both you and your tenants. Additionally, check to see how responsive a service’s customer support team is in case you have any issues during set up or maintenance.
- Customization options: Opt for platforms that allow flexibility in setting payment schedules, customizing payment methods, and the ability to support split payments if you have multiple tenants in one residence.
Why RentSpree’s Rent Payment system is a good choice
Online rent payment systems are one of the best ways to pay rent and eliminate the hassle of chasing tenants down for their monthly payments. With RentSpree’s Rent Payment, landlords can further simplify and streamline their month-to-month rent collection and management. Rent Payment not only modernizes the rent collection process but also improves the payment experience, making it convenient for everyone involved.
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