Sunday, March 01, 2009

Two Ways To Collect Rent Online



Smart Rent Online is an easy way to allow your tenants to pay online. You just set up your properties, tenants and rent, and then the service does the rest. It will provide reminders, track payments, notify you of payments and late status. Smart Rent Online processes fund transfer through ACH transactions. For each rent payment transaction, there is a fee of $2.00. In case there is a failed transaction, there will be failed transaction fee of $2.00.  You can pass this on to your tenant as a convenience fee, or split it with them. You can try this service for free.


Rentomatic also provides online rent collection with tracking, invoicing, receipts, etc. There is no transaction cost per se, but a flat fee for each unit which includes all of these features.

Rentomatic is more than a payment collection tool, it lets you fill vacancies with ads that post to craigslist, Rentometer, Google base and Oodle, etc. It also tracks your ad response. It has a property management dashboard for all your properties, and can manage your properties, tenants, leases, and income/expense transactions.

COST FOR RENT COLLECTION: $5/mo per unit online processing for all 50 states, and in these 24 states via check or echeck; credit cards coming soon.

COST FOR MANAGEMENT FEATURES: Plans from $9.95/mo (up to 5 units), through $59.95/mo (unlimited)

It appears that you must by a management plan in addition to the rent collection plan if you want to collect rent online. So this is a more expensive plan than the previous, however, if you were looking for an integrated full property management solution then it could be worth looking into.