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06 Oct


Automated rent collection

October 6, 2014 | By |

When you own rental properties, one of the many thorns in your side can be collecting rent payments.  Unless you have a management company that does this for you, the time to retrieve the rent check, walk or drive to the bank, and then drive back begins to compound even after only a few months.  Wouldn’t it be excellent to automate this process?  Below we recommend 3 different companies that provide automated rent collection.  For a small fee (probably much lower than your time is worth), they handle all rental payment processing, getting you one step closer to a turnkey investment!

1. Rent Monitor – Cost: $3/transaction

Rent Monitor has one of the cleanest looking designs we’ve seen in awhile and with its super simple pricing strategy, we think that this would be the best choice for those just starting off with rental properties.

2. Chase Quickpay – Cost: Free (With an account)

3. RentMonitor – Cost: $9.95/month for up to 10 tenants

Now that you have the information, try them for free!  RentMonitor offers a free trial so that you can see just how easy it will be to transition your tenants from handwritten mailed checks to direct deposit.

Let us know what you find and feel free to comment below with any questions on automating your rental property!