By Ryan Squires
What is a rent payment app and why does it matter?
As an independent landlord, managing rentals without support can be a real challenge. Constant maintenance requests can put a strain on your time and energy, managing tenants can be a persistent headache, and when a critical situation pops up, you can quickly find yourself deep in the weeds.
Luckily, there are ways that you can streamline your operations, especially with arguably the most essential part of being a landlord: collecting rent.
A rent payment app can be a landlord’s best friend. It cuts down on the time spent tracking down late payments, simplifies the process for renters, and keeps the cash flowing directly into your account.
Online rent collection is essential in the modern property rental industry.
In this guide, we’ll review the things you need in a solid rent payment app, including essential features, how to get started, and why TurboTenant is the best choice for your rent collection needs.
Let’s get into it.
Collecting rent from your tenants shouldn’t make you feel like you’re a loan shark, hunting someone down for a check for days on end. By using a rent payment app, you’ll modernize your operations in a way that creates an easy flow of cash from your tenants directly into your accounts and fosters a positive experience on both sides.
Tenants will appreciate how easy it is to stay on top of their payments, and you’ll find more time to spend taking care of your properties and even finding new ones to invest in.
When deciding on the perfect solution, look for one with a robust feature list that also offers additional incredibly useful tools to enhance your landlording experience.
Here’s what to look for:
Free for landlords. This is a no-brainer. Property management software that saves you time and money is the kind of “best of both worlds” tool anyone can get behind.
Multiple payment methods. When you give your tenants more ways to pay, you minimize the chance of missed or forgotten payments.
Allows split rent payments for roommates. A split rent payments app is an ideal solution for units that lean towards roommate scenarios. Each tenant pays their share directly, eliminating the need to track down multiple individuals for a single full rent payment.
Simple, transparent fee structure for tenants. A simple, clear description of the fee structure for each payment type allows your tenant to feel more comfortable and understanding of what they’ll be paying each month.
Rent reporting for tenants. Regular, on-time payments boost a tenant’s credit score, which incentivizes them to pay on time every single month.
Automated reminders, receipts, and late fee automation. Landlords can set up automatic reminders that are sent to tenants when a rent due date is approaching, and they’ll receive a detailed receipt immediately after payment. Landlords can automatically assign late fees to tenants if they fail to pay the balance within the specified grace period.
Mobile and desktop access. Why use a rent payment app that only works on one platform? Find a tool that gives your tenant multiple ways to interface with the tool.
Easy to set up, even for tech-adverse landlords. It’s not a time-saver if it takes hours to get it working every time you house a new tenant.
Of all the rent payment apps available today, TurboTenant is uniquely positioned to be the best option for small, independent landlords seeking effective property management solutions that save them money and time daily.
TurboTenant is designed explicitly for small landlords, offering best-in-class tools and features that make property management easier than ever before.
Some of TurboTenant’s key features include:
TurboTenant is free for landlords, incredibly simple to set up and start using right away, and will help you streamline your day-to-day workflow immediately.
A landlords one stop shop for tenant management…for FREE
You can’t beat free and the only time you pay is if you want to purchase a lease or have expedited rent deposits. Most everything else costs zip, zero, zilch.
Many rent payment apps are available, along with pricey property management software that’s often difficult to set up. For landlords, this can lead to headaches from steep learning curves and unexpected fees.
Here are some of the most common drawbacks to using other software on the market:
The goal of a solid property management solution should be to make a landlord’s life easier, not harder. TurboTenant has been built for landlords from day one, only thinking about ways to improve your efficiency, while not breaking the bank. TurboTenant is feature-rich but straightforward to use, and you’ll notice the difference immediately.
To prove that TurboTenant is the best and easiest rent payment app on the market, let’s walk through the setup process so you can see for yourself.
Collecting rent online takes less than 10 minutes to set up, and after a quick review by our team, you’ll be ready to start accepting online payments. You’ll also be able to make some adjustments to how you collect rent, like enabling partial payments, automatically assigning late fees, sending rent reminders, and automatic payments.
While you’re poking around the TurboTenant dashboard, you’ll also be able to schedule and track maintenance requests, gain access to online lease agreements, communicate with your tenants directly through the app, and a ton more.
TurboTenant will never replace the human experience; you’re a capable landlord who cares about your tenants and their experience in your units. But TurboTenant does help you take landlording to the next level by providing the tools you need to become more efficient and profitable.
TurboTenant isn’t just a rent payment app; it’s also a split rent payments app, giving you complete control over how you collect rent, stress-free, from your tenants. It’s automated, secure, and will give you the peace of mind to know that your units are safe.
So, create your free TurboTenant account today and start collecting rent the easy way.
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