Unless you love confrontation, the question of fees is probably one you wish you didn’t have to answer. But the fact is, a payment system not only makes life easier for a property manager, it actually gives the tenant some pretty compelling benefits too.

The way we usually explain ‘What’s in it for you…’ to a tenant is like this:

Peace of mind
As a tenant you can log in and view your entire payment history – a feature that is particularly useful for share households. You also get added security via automation – it reduces the risk of paying late which can blemish your tenancy record.

Convenience
You can pay in multiple forms (electronic funds, credit card, cash) plus you can view and change your payment schedule at any time which is great for forward budgeting or if your salary pay-date changes.

Streamlining
By removing all the admin around rent payments that usually clogs up a property manager’s time, property managers can focus more on their tenants and react more quickly to requests and issue resolution.

Innovation
New technology means payment systems are becoming a way of life for many industries for the simple reason that they increase efficiencies and reduce error.

Memorising these points will certainly help you transition existing tenants to a payment system. We always recommend taking a systemised approach to the rent roll, starting with lease renewals and expiries, then targeting longer term leases and then the balance. And the best way to avoid any confrontation? Make sure all tenants are aware of your preferred payment method at time of application.

In the end it comes down to quality and professionalism. If you can demonstrate to your tenants that by implementing a payment system you are able to achieve and maintain a level of excellence over and above offices that don’t use one, then the future of property management is all yours.

For a full list of the features and benefits of iPayRent, contact Hania Badran on hania.badran@ippayments.com.au or call 1300 724 786.