Toronto, Ontario (PRWEB) January 16, 2014
Now, with the help of Property Vista Software Inc., property management companies can offer tenants a wide array of rent payment options including credit card, Visa Debit, Interac, pre-authorized payments and cash transfers. For tenants, Property Vista’s web payment solution is convenient, easy and secure. For property managers, it means no more chasing cheques, increased efficiency and lower operational costs.
“Many of our tenants prefer to pay their rent through their Visa Debit, as it is extremely secure. They can pay from anywhere in the world, and even set up recurring payments,” said Leslie Veiner, CEO of True North Apartment REIT. “It makes payment as simple as possible for our tenants.”
According to independent research, the cost to process cheques can range from $15 to $25 for each cheque issued. This includes costs such as clerical, cheque requisitioning, authorization, reconciliation, tracing and others. With Property Vista, property managers can eliminate many of these costs by automatically accepting mobile and online payments. The cost to process payments varies depending on payment type and number of transactions. For some credit cards, there is a small processing fee for tenants, and no charge for landlords.
The web payment solution is completely integrated into the property management’s tenant portal. Tenants can use their mobile devices, tablets or computers to log in securely and set up their payment preferences. Once the account is set up, payment is automated, reducing any human error.
“Property management companies can really reduce the amount of time, effort and money it takes to manage their portfolio with our payment solution,” said Leonard Drimmer, CEO of Property Vista Software. “There are no lost or bounced cheques to worry about and funds are available almost immediately, improving cash flow and profitability.”
Key benefits include:
- More Ways to Pay – Tenants are happier with more payment choices, which include credit card, Visa Debit, Interac, pre-authorized payments and cash transfers.
- Reduced Rent Arrears – Rent arrears represent not only extensive labour costs but also reduced profitability. The rent payment system has a built-in series of generated reminder letters and optional automated phone calls or SMS messages to facilitate on-time rent payment.
- Better Tenant Relationships – In addition to payment convenience, tenants can also access their payment account 24/7. They can easily view their payment history, print receipts, update information instantly or change payment options. All without any calls to the office!
- No More Manual Processing –Property management companies can save a huge amount of time and expense by eliminating manual cheque processing and reconciliation.
- 100% Security – With secure online rent payments, tenants and property managers never have to worry about lost or stolen cheques. PCI compliant, Secure Socket Layer (SSL) technology and end-to-end encryption ensure that sensitive tenant data is always secure.
