At its February student housing conference, the National Apartment Association will hold a presentation on the benefits of online rent payments.
The trade group said the payment methods can bring a host of benefits to property managers and landlords looking to streamline their operations and cut costs. Landlords can collect rent and deposit payments through online programs, and the methods can help them save on the cost of paperwork, ensures quicker payments and digitizes their records, keeping things more organized. Additionally, younger, college-aged renters frequently prefer paying for their other expenses online, so paying for rent this way is a natural progression for them, said the group.
The NAA's fourth annual Student Housing Conference will be held February 21 to 23 in Las Vegas, and presentations will be held on different ways to receive online payments, including credit cards and e-checks. Other electronic leasing tools, such as online lease agreements and credit or criminal background checks can also help property managers bring their operation into the digital age and cut down on administrative costs.
A survey this summer by WilliamPaid.com showed that 71 percent of tenants still mail a paper check to their landlords for rent, though nearly two-thirds said they would be willing to pay online if they knew how. Landlords likewise said they would prefer e-payments, but weren't sure where to start.