Knocking door to door to collect rent or constantly reminding them of their rent payments is much of a hassle and is unproductive. That said, take your collection strategies a level higher by utilizing modern solutions and get your job done with just a few clicks and swipes with robust rental payment software.
12+ Rental Payment Software
1. Yardi Breeze
2. Innago
3. RentRedi
4. Cozy
5. Zego (Powered by PayLease)
6. Vacation Rent Payment
7. Zumper
8. Rentler.Com
9. Seamless Property
10. Rategenie
11. Avail
12. MyVR
13. Tenantcube
What Is Rental Payment Software?
Rental payment software is a digital solution designed to aid property owners and rental managers in digitizing the processes of collecting rent payments. This software integrates the functionalities and tasks you need to access for your operations in a centralized platform. It provides multiple online payment gateways and flexible payment options, making the transaction more convenient for both parties.
Also, it allows its users to set up a portal for renters and records essential information that is accessible in real-time. In addition, it gathers and measures data analytics and converts them into comprehensive reports to make information more comprehensive for the users.
Benefits
With this technology in your digital toolkit, you no longer have to go through the repetitive processes of rent payment collection and breeze through its complexities. Also, it allows you to make your transaction paperless and contactless, making it more seamless. That said, it improves your customer service and heightens the customer experience.
Features
Choosing your software for your rental payment needs can be a little overwhelming, especially with the lengthy list of available options you can consider during your decision-making process in the software market. That said, ensure to consider essential factors and check the compatibility of each software with your business size to filter out the software most suited for you. Also, look into their supported digital devices and consider their pricing structures and service offerings. In addition, take the following features into account to single out the rental payment software most suited for you:
- Convenient payment processing gateways
- Financial reporting capabilities
- Automated reminder and notifications system
- Late fee calculation tools
- Credit card processing functionalities
- Rental payment history data
- Business instant messaging platform
- Accounting software integration
Top 10 Rental Payment Software
1. Zego
When you use this property management software, you can access tools for payment processing and maintenance management. They have 253 people working for them and have 55.7 million dollars in revenue.
2. Zumper
Zumper is a rental platform with tools for online booking and renter screening. They have a generated revenue of 28.4 million dollars and have 308 people on their team.
3. Vacation Rent Payment
You can streamline reservations management and payment processing with this digital solution. They have 14 million dollars in generated revenue and have 64 employees working for them.
4. RentRedi
With this digital solution, you can streamline rent tracking and credit tracking. RentRedi has employed 20 people and has 6 million dollars in generated revenue.
5. Cozy
With this software, you can use customizable lease agreements and expense management features. They have 48 people in their team and have a generated revenue of 5.3 million dollars.
6. Yardi Breeze
This lease management software has a tenant portal and financial management tools. They have 28 employees in their teams and have 5 million dollars in generated revenue.
7. Avail
Contact management and maintenance management tools are examples of features in this real estate property management software. They have generated a revenue of 4.2 million dollars and have employed 30 people.
8. Rategenie
Rategenie provides its users with built-in accounting software and marketing automation features. They have employed 23 people and have 3.3 million dollars in generated revenue.
9. Rentler.com
Rentler.com is a rental property management software that has a tenant portal and tenant tracking capabilities. They have 24 employees in their team and have a generated revenue of 2.1 million dollars.
10. Innago
This property management software has functionalities for tenant tracking and accounting. They have a generated revenue of 900 thousand dollars and have six employees working for them.
FAQs
What are the various types of payment gateways?
Hosted payment gateways are one of the types of various payment processing gateways there are. With this option, the third-party payment service providers will redirect your renters or tenants to their payment page, meaning you will have less control over the process. Another type is the self-hosted payment gateways which allow the eCommerce owners to directly gather information and transport the data to the payment gateway’s URL. Other types include direct payment gateway, API hosted payment gateway and custom payment gateway.
What are the advantages of collecting rent online?
Collecting rent payments online will allow you to use platforms with data security, diminishing the possibility of stolen checks, fraud, and theft. Also, it gives more convenience to the tenants and allows rent managers to access electronic records for payment history and other essential documentation. In addition, it improves consistency and helps you to track the status of payments in real-time.
What is property management software?
Property management software refers to a platform that aids property owners and landlords to digitize their daily operational processes. It has digital tools to improve the quality of your customer services and business management practices to ensure the tenants’ comfortability and safety. This software solution has functionalities for marketing, lease management, tenant tracking, payment processing, maintenance management, and accounting.
Nowadays, more people prefer to pay their bills online due to the benefits and security it brings. Also, most businesses are starting to adapt to modern technology to keep up with the changing business landscape. That said, it is also time for you to go and start digitizing your processes to gain a competitive edge with the best rental payment software.
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