Whether you're an active property manager or you're paying someone to manage your rental properties, you invest time and money juggling myriad tasks related to tenants, property management, and maintenance. One of them is the collection and accounting of rent payments.
o Issuing a rent bill and/or reminder for immediate payment
o Reminders of outstanding payments and promotional items
o Receipt of paper checks and posting of proper tenant credit
o Preparation of records of deposits and bank trips to make deposits
In an article titled Businesses Embrace Online Payments to Improve Cash Flow and Save Time and Money, WorkZ, a website to help small businesses, cites a Gartner research study on the cost of manual payment processing. The study cited costs of $2 to $5 to mail a paper bill and $10 to process a paper check. These numbers are related to successful invoicing and [url=https://www.sslcommerz.com/]payment gateways for my business[/url] timely payment. As property owners and managers, we regularly encounter late rent payments and the associated costs of reminders and measures to be followed by tenants.
A real-life property management example was outlined in the WorkZ article, beginning with this statement from the company in question: “Andrew Bloch, CFO and Alan Cusson, IT Manager at The Hamilton Company, a Boston, Massachusetts, large property management company,
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