Return to site

Should You Accept Credit and Debit Rent Payments?

Remember the days when only the most established companies accepted credit and debit cards? You would wander through street fairs and farmer's markets, regretting not grabbing cash before you came. Nowadays, though, every mom and pop business on the block accepts cards. As we work towards an increasingly cashless society, many landlords question whether or not they should be offering credit and debit payment options, too. Scott Safadi of Cal Bay Property Management urges landlords to make their decision carefully. The benefits are clear:

 

Flexibility

 

By offering tenants the option to pay rent in a way that works best for them, the days of late payments will be history. We've all had moments where cash is tight, and a credit card can really save the day. By accepting credit card payments, you'll eliminate the vast majority of late payments via check or cash.

 

Efficiency

 

By offering online debit and credit payments, you'll also save your employees valuable time. With payment entering directly into your accounting system, the data entry that's typically necessary for rent collection becomes a thing of the past. This leaves more time for your staff to tackle other important tasks.

 

The End of Excuses

 

With an easy online payment portal, your tenants will have no reason to make late payments ever again. While cash might be tight, they can always use a card with an online payment system. This elimination of conversations about late rent can also save you time and energy.

 

- Scott Safadi, Cal Bay Property Management

Remember the days when only the most established companies accepted credit and debit cards? You would wander through street fairs and farmer's markets, regretting not grabbing cash before you came. Nowadays, though, every mom and pop business on the block accepts cards. As we work towards an increasingly cashless society, many landlords question whether or not they should be offering credit and debit payment options, too. Scott Safadi of Cal Bay Property Management urges landlords to make their decision carefully. The benefits are clear:

Flexibility

By offering tenants the option to pay rent in a way that works best for them, the days of late payments will be history. We've all had moments where cash is tight, and a credit card can really save the day. By accepting credit card payments, you'll eliminate the vast majority of late payments via check or cash.

Efficiency

By offering online debit and credit payments, you'll also save your employees valuable time. With payment entering directly into your accounting system, the data entry that's typically necessary for rent collection becomes a thing of the past. This leaves more time for your staff to tackle other important tasks.

The End of Excuses

With an easy online payment portal, your tenants will have no reason to make late payments ever again. While cash might be tight, they can always use a card with an online payment system. This elimination of conversations about late rent can also save you time and energy.

All Posts
×

Almost done…

We just sent you an email. Please click the link in the email to confirm your subscription!

OKSubscriptions powered by Strikingly