Many landlords do take the rent through online from various sources as they know the various applications to accept the payment online, but today also there are many people who do not opt for the online method. It’s not like they do not want or reluctant, but it’s just the lack of knowledge because of that they are facing such an issue.
Let’s first of all talk about the various benefits that you will avail with accepting and paying the payment online:
It is automatic: If you opt for an automatic recurring method, then it is nothing like it, that you need to pursue. You do not need to wait for the cheques to get cleared up, as they can have bounced back as well, so and the automatic payment of receiving the amount is also great and makes it one of the best way to pay rent online.
It saves time: If you can get the recurring payment then there is nothing like that, but if you could not able to go through for them, then, too normal bank transfer also doesn’t consume much of your time.
Fastest mode: Anyhow, this mode is one of the fastest in the domain as you never know when is the bank closing and your cheque can jump for clearing on the next working day, so if the account is being added then it takes just the 2 minutes or else you can also transfer through various wallets available online too.
In all the ways, the electronic transfer is one of the fastest ways to take your money from others and you do not need to wait for longer periods as well
Here are different modes of collecting the rent online and the risk involved with them:
Credit Card: They can be expensive if you accept them for the paying of your rent as they charge you some amount, you can take that amount from your tenant but they can fight for it too. Chargebacks are another issue that is related to the credit cards, that can leave you in the soup.
Debit Cards: It is an easier mode and chargebacks are also not frequent but today nobody wants to pay for them. People think credit card as the major option for the payment.
Net Banking: It is considered to be one of the methods to best way to pay rent online that are widely accepted and is not expensive too. Allow your tenants to pay you through the net banking only as the charges are low and the issues of charge backs are also not there.
So, don’t carry the headache of collecting the rent offline, go online and start collecting your rent automatically through various features and you will definitely be at rest as there are tenants who need to worry about their due dates. So, try to minimize the cost by speaking to various payment gateways for your welfare and then take it forward to install them in your platform, so be electronic trendy by going online with the new world.