There’s always a better way to do things. We developed our property management app’s online rent collection module with this in mind.
As we grow and evolve in life and in business, through time, trials and experiences, we learn how to do things better, more efficiently and for cheaper. Looking back, how would we handle things differently? What processes or systems would we have put in place and how further ahead would we have been?
Our online rent collection tool is designed to efficiently collect rent in a shorter period of time by offering flexible payment methods (and easier access) for the tenant, while automating both collection and reporting for the landlord. The outcome, a 50% reduction in overall collection time, better landlord-tenant relationships, reduced cognitive dissonance and more time to focus on the business instead of administrative overhead. Oh, and it won’t cost you anything. Click below to see how we do it…
FEATURES / SCREENSHOTS
Online Payment Collection
CREDIT CARDS & DIRECT DEBIT
Collect payments by credit card and direct debit
INSTANT NOTIFICATIONS UPON PAYMENT
Get notified by push notification or email the instant someone pays
SUMMARY OF ALL OUTSTANDING
At-a-glance view of total overdue, amount due from each person, and number of days overdue
RECEIPTS GENERATED AUTOMATICALLY
Receipts are automatically generated and sent to all parties, each time a payment is made
AUTOMATED COLLECTION AND TRACKING FROM EVERYONE
Send a link by email or SMS to everyone, directly from your phone in 2 taps, so that your employees don't need to collect
TRACK CASH & CHEQUE PAYMENTS
For the people that pay by cash or cheque can be entered manually, so that everything is accounted for
There’s always a more efficient way to do things.
Everything we do at Property APPS is centered around aggregating experiences and best practices through research, and then digitizing our findings into workflows and technologies that foster win-wins for both the business and the tenant.
What if we told you, that we could give you back 10, 15, 20 hours of your time? What would you do with that time?
For any building manager or landlord, rent collection is stressful. Does this sounds familiar?
The bank is holding my cheque
It’s in the mail
The excuses are endless and FRUSTRATING! From security and scattered payment consistency, to manual tracking, online rent collection exponentially reduces the stress and time involved in rent collection.
We have developed a solution with flexible payment processing, real time dashboard reporting, reminders, AND the option of integration with your existing systems. We guarantee it will help you collect your rent exponentially faster while keeping your tenants happier.
Landlords and building operators that have adopted the Property Apps technology have achieved significant time savings through streamlining and automation, shorter collection periods, and more.
Offering tenants flexibility for payment reduces administrative time by 780% while accelerating collection times by over 50%. Subsequently, this increased level of transparency has redefined the tone of tenant/landlord interactions and increased the overall trust factor.
Here Are The Highlights:
Automated Reporting and Invoicing
- Generates receipts.
- Aging reports. (quickview)
- Multi-property management.
- High level dashboard reporting.
- Payment history.
- Receivables tracking.
- Auto generated invoicing.
- Tax tracking.
Online Rent Collection
- Receive payments manually or automatically.
- Enter manual cash/cheque payments.
- Cheque scanning.
- Assign one time and recurring building fees.
- Collection notices.
Flexible Payment Options
- Pre-authorized recurring payments.
- Credit card processing.
- Bank transfer.
How It Works…
- Activate flexible payment options into your building’s rent collection workflow in under an hour. Once in use, our dynamic payment platform can accept:
- Credit card or bank transfer with the option for automatic recurring payments and instantaneous recording directly within your application;
- cheque payments with a photo option for precise recordkeeping;
- or cash payments with an option to manually record them, keeping your accounting all under one platform.
- Use our tested communication templates and mailing system to broadcast the new options to your tenants through email or SMS. With the aim of reducing complexity and increasing efficiency, we created an option to message all residents via email or SMS by sending one message directly from your contact list while having the ability to see if your message was seen by the other party. This creates simplicity and peace of mind in your manager-to-tenant communication process.
- Avoid late fees by enabling the option to automatically broadcast reminders 2-3 business days before due date through push notifications, email, or SMS reminders. If payments do become outstanding, you can set these notifications to continue up to 20 days after the initial payment due date.
- Track all payments and take advantage of instant record keeping with our automated process. Your app will automatically track all receivables when they come due and as they are paid. This can be viewed in the payment history tab. You will have access to a quick list right from your dashboard of the current amount overdue across all your properties, and everyone that is overdue in your building, by how much, and how many days.
- Send reminders real time manually or automatically to all or selected tenants through the available communication options. With reminders, landlords may also assign one time or recurring fees to all or selected tenants.
- Reward tenants. Inspire compliance through payment options that complement the increase in electronic banking. By automating the rent collection process and avoiding late fees altogether, you’re sure to increase your landlord-tenant relationship and add a competitive advantage to your business.
Without Property Apps Rental Collection
- Manual data entry as rent is collected.
- Asynchronous reconciliation.
- Cash or cheque only.
- Fragmented reporting through independent accounting system.
- Up to 20x more the time for data entry
- Up to 10x more time 15 hours in collections.
- Up to 60 days to collect.
With Property Apps Rental Collection
- Real time reconciliation and reporting.
- Flexible payment options (credit card, direct debit, EMT,…)
- Reduced (full) collection times by up to 30.
- Reducing data entry/administrative time by up to 20 times
- Customized integration (on request) to existing systems.
You’ll wonder how you’ve been doing business without Property Apps.
One rent cycle. That’s all it takes.