PORTLAND, Ore., Jan. 12, 2021 /PRNewswire-PRWeb/ -- Landlord Studio, the leading property management solution, has launched an Online Rent Collection tool purpose-built for landlords. This feature revolutionizes the often problematic, but always vital part of rental property management. It is now available for all US users and aims to improve rent collection processes for both landlords and tenants.
Landlord Studio focuses on supplying an effective and affordable industry-specific solution for DIY landlords. They tackle key rental management problems like income and expense tracking, tenant screening, and now Online Rent Collection.
The landlord sets up the rental details including the rent due date and amount. This allows them to control the rent due, blocking an often problematic issue of partial payments. Then they simply notify their tenants who create an account, and with a few quick taps set up their ongoing payments directly to their landlord's bank account. Tenants have a complete history of payments available to them at any time.
Once rent payments have been made the Landlord Studio software then recognizes and automatically reconciles the income against the relevant property and tenant, before notifying the landlord.
"This is just one step towards our ambitious objectives. Our end goal is to automate the entirety of the rental property management process, from income and expense tracking to tenant management. We're excited to now get started working on improving this features' functionality further with additions like instant transfers coming soon." - Charles Chan, CEO and Founder.
The addition of Online Rent Collection to the suite of Landlord Studio's income expense tracking tools will increase the accuracy of their users' accounting while simultaneously saving them time.
Some of the key aspects of this feature include auto-pay (enabling tenants to set recurring payments), and automated income tracking. This when paired with their other features, like automated invoicing and receipts, aims to save both landlords and tenants time as well as helping to reduce late and missed rent payments, a principal cause of evictions.
"By providing a simplified process for both landlords and tenants to manage routine tasks like rent collection we are removing points of friction between them and improving the renting experience for both parties," Charles Chan added.
About Landlord Studio:
Landlord Studio is the world's leading property management and financial tracking solution for "do-it-yourself" landlords. They are improving the lives of landlords and tenants by arming them with the knowledge and tools required to make renting easy. Thousands of landlords from over 70 different countries already use Landlord Studio to save time and money by simplifying and automating rental management processes.
Logan Ransley, Landlord Studio, +1 6509249925, [email protected]
Charles Chan, Landlord Studio, 6509249925, [email protected]
SOURCE Landlord Studio