Managing a rental property is harder than many
people realize when they first started leasing their properties. Besides the
challenges that come with maintaining the property, collecting rent can become
a real time sink. Collecting rent from tenants and depositing it into bank
accounts becomes more laborious the more properties or units you manage.
ClearNow has tools that can make these processes more manageable. Here are four
ways that ClearNow
can help landlords and tenants.
Setup a Payment Portal for Paying
Rent Online
Getting a rent payment from an occupant can be
surprisingly problematic. When people pay by mailing a check, some checks will
get lost in the mail, which slows down payment. You have to wait for the renter
to send a new payment or travel to pick up the check in person. ClearNow makes
it easier for renters to make their payments by helping landlords set up online
payment portals. With ClearNow, you get the service you need without having to
run your own secure website for financial transactions. ClearNow has provided
electronic rent payment since 2000 while maintaining a perfect BBB rating. Our system works for any
property, whether you have one rental unit or a hundred thousand.
Provide Customer Service to
Tenants Paying Rent
Using ClearNow for online rent payments also
provides additional benefits for tenants. When you try to run your own online
payment system from a website, there is no support for the tenant. Most online
rent payment services do not have phone support. It’s essential to offer some
technical support for web-based services since some of your tenants may not be
extremely computer literate. With ClearNow, we have phone support Monday
through Friday from 9 a.m. to 5 p.m. ET. If your tenants are having trouble
setting up their account or they encounter another issue, we’ll be there to
help.
Ensure Landlords Get Paid on Time
For many property owners, it’s essential that
they get their rent payments promptly. The money from the rent may be needed to
pay expenses related to property management. Landlords can’t afford for money
to be tied up in the banking ether. When you use ClearNow to collect rent
payments, the money is always directly deposited three banking days after the
debit day. How often you need to make deposits determines how which services
from ClearNow you’ll need. Each ClearNow account debits on a specific day and
credits to a specific bank account. Instead of setup fees, ClearNow fees are
based on your debit day and are only charged when you attempt to debit a
tenant. This way, property owners who only need a single monthly deposit pay
less than larger management companies that need debits more often.
Improve the Credit Score of Your
Tenants
Getting tenants to switch to online payments
is easy with the intrinsic benefits of using ClearNow. When using ClearNow to
pay rent, tenants improve their credit by paying their bills. Tenants can
establish credit history by having ClearNow furnish data to Experian RentBureau.The rental data from
Experian is updated every 24 hours, so every on-time payment helps your tenant.
As Experian explains, “This quick turnaround and robust data impacts every
point of decision making – from identifying higher-quality residents and
improving bad-debt recovery to streamlining the collections process.”
As you can see, there are a lot of benefits to using
ClearNow to handle rent payments for your property. If you want to spend less
time collecting and processing rent, while providing excellent features to your
tenant, start
using ClearNow today. Send us a message online if you have any
question about using our services.