Automated Rent Payment
Payment problems place landlords and their rental income at risk as it will have you chasing down rent payments with phone calls, late notices, and repeated requests that can undermine the relationship between yourself and your tenant which makes addressing other issues (such as necessary repairs) very difficult, while some lead to eviction and total loss of rental income.
As a property owner, setting up a method for rent collection makes it easier to keep track of which tenants are current with their rent and which ones are behind on their rent. It is worthy to note that an automated payment solution is mutually beneficial for your business and your tenants because it is convenient, saves time, reduces costs and, improves cash flow consistency.
With Respay, there are a lot of benefits landlords and property managers can realize through our automated rent payments, such as the reduction in late payments, zero reconciliation worries, sending receipts, renewal invoices with follow-up reminders.
Respay’s rental payment feature is used by property owners and managers to streamline the payment collection process while also offering you the ability to set late fees if you permit tenants to make part or deferred payments using our software.
Tenants are offered different online payment options including debit card, bank transfer, direct debit, USSD, and Respay proprietary wallet. This allows tenants to save up towards future rent or purchase. Once payment is made, you can also split rent payments into multiple bank accounts or into Respay’s wallet based on your preferred remittance setting after which tenants get automatic receipts.
Our payment method is secure and it eliminates the risk associated with cash and cheque fraud. Our cloud-based online rent payment option is always available and accessible anywhere and it protects your consumer data which is a great way to protect yourself and your tenant.
Get started by signing up via https://apps.respay.com and start automating your rent payment and manage your properties remotely. We only charge a token 0.25% collection fee when your tenants pay online using our payment solution.