As a landlord, managing your property often involves juggling numerous responsibilities. But what if we told you that there's a way to streamline one of the most important aspects – collecting rent payments? With Apartments.com's Express Pay, you can get paid faster and more efficiently. By offering online payment capabilities, this innovative service is transforming the way landlords handle their rental income. So, let's dive in and explore how Express Pay is making life easier for property owners like you.
What Is Express Pay and Why Do You Need It?
Express Pay is an innovative feature offered by Apartments.com, designed to have rents withdrawable from your bank account even sooner. Once your tenant is established and in good standing, they're eligible for Express Pay. This means you'll get your payment a day sooner. Best of all, there’s no fee for Express Pay, making it a cost-effective solution for landlords seeking efficiency and speed.
How to Get Started with Express Pay
The process is as simple as it gets. There's nothing extra you need to do. The system automatically identifies which ACH rent payments are low risk, and expedites them. The payment is then processed and deposited into your account a day faster than usual.
Benefits of Using Express Pay
The advantages of using Express Pay extend beyond just speedy transactions. Here are a few key benefits:
- Efficiency: No more waiting around for checks to clear. Get your money almost as fast as card payments.
- Convenience: The system operates automatically, reducing manual handling and associated errors.
- Cost-effective: Unlike our competitors, Apartments.com does not charge any subscription fees to collect rent and receive Express Pay. With no additional fees for the service, Express Pay is a financially smart choice.
- Improved funds availability: Faster payments means cash available for your property management business.
What If My Renter Isn’t in Good Standing?
If your tenant is not in good standing, don’t worry! You will still receive your rental payment in a timely manner. On Apartments.com, renters can make payments with their debit card or credit card, using Google Pay, or from their bank account (ACH).
ACH Bank-to-Bank Payment Time
If your renter uses their checking account and they’re not in good standing, Apartments.com will process these payments in about 3-5 business days.
No matter what standing your renter is in, Apartments.com will send your renter an email whenever their payment is processing, and even a reminder if it becomes past due. You can also check the estimated payment deposit date from your Apartments.com account. Keep in mind that weekends and bank holidays will delay payment, as these are not considered business days in the processing timeline. See a list of bank-observed holidays.
Apartments.com Payments vs. Competitors: A Deep Dive into Online Rent Payment Platforms
Getting rent payments on time is a top priority for every landlord. But here's the good news: online rent payment platforms are revolutionizing the way landlords and property managers collect rent. One tool that stands out in this space is Apartments.com's Payments. It's fast, it's efficient, and best of all, it's free.
But how does it stack up against its competitors? Let's take a closer look.
The Advantages of Apartments.com: faster payments
Apartments.com offers a hassle-free way for landlords to collect rent: Express Pay. The biggest advantage with Express Pay? There are no additional fees involved. This means you can get your money quickly without paying extra.
How Competitors Charge Fees
Now, let's compare that to some of the other players in the market. Platforms like Avail, Tenant Cloud, and Turbo Tenant offer similar online rent collection services. However, these services often come with additional recurring subscription costs to collect rent.
For instance, if landlords want to receive their money faster, they might have to pay a fee per unit per month. These costs can add up, especially if you're managing multiple properties. Now, compare that to using Apartments.com's Express Pay, which comes at no cost to you. The difference is clear: Apartments.com’s Rental Tools saves you money.
Other Features to Consider
Apart from cost, there are other factors to consider when choosing an online rent payment service. This includes payment options, security, and ease of use. Many platforms offer various features, but it's crucial to remember that they might not provide the same level of service as Apartments.com.
When choosing an online rent payment service, you should consider both cost and features. But with Apartments.com's Payments, you get the best of both worlds - a free service that doesn't skimp on features. So, while there are several competitors out there, some charge a markup for the same value as Apartments.com when it comes to getting paid.
Apartments.com's Payments, and its Express Pay feature, is a game changer in the world of rental property management for landlords. With Express Pay’s fast and efficient processing, it makes life easier by eliminating the stress of late payments and slow processing times. Say goodbye to waiting for your money and focus on managing your properties and making tenants feel at home. Sign up with Apartments.com to start collecting rental payments and enjoy the ease of rental payments made even faster with Express Pay.
