Boost Online Rent Payments: Increase Resident Adoption!

How to increase resident adoption of online rent payments

mrisoftware mrisoftware | 2 years ago

According to the National Multifamily Housing Council, 74% of renters are below the age of 45. With this age group, paying bills online has become the norm, and their rent is no exception. For property managers hoping to collect more digital rent payments, rather than paper checks, the first step is to encourage resident adoption. … Continued The post How to increase resident adoption of online rent payments appeared first on MRI Software.

Why You Should Set Up Recurring Rent Payments to Increase Income

Business & Economy Website Business & Economy W... | 1 year ago

Most landlords and rental property owners say that collecting rent is their biggest pain point. A missed rent payment can disrupt your cash flow and even make you miss crucial payments. Therefore, any tool that helps renters pay rent on time every month will benefit your rental business. One way to stabilize rental income is by promoting recurring rent payments. This payment method can help ensure tenants are never late with the rent and you get paid on time. However, getting your tenant to se...

zenithpro zenithpro | 2 years ago

Whether it’s the economy, property taxes, or HOA dues, sometimes as a landlord you have no choice but to increase your rent to stay profitable. While no tenant will be happy about paying more, you can make the process fair and with fewer complaints by following these tips. Calculate How Much You’ll Increase the Rent […] The post How to Increase Your Rent appeared first on Vancouver Property Management | Real Estate | Zenith Properties NW, LLC..

How Renaissance Properties simplified residential payments with MRI

mrisoftware mrisoftware | 3 years ago

Efficient multifamily payment processing systems that provide insight into property management make life easier for residents and back-office staff, especially in the midst of a crisis like the COVID-19 pandemic. Renaissance Properties adopted MRI Payments before 2020, and having a flexible payments system in their arsenal has better prepared them for uncertain times. As a … Continued The post How Renaissance Properties simplified residential payments with MRI appeared first on MRI Software.

How to handle late rent payments: A thorn in everyone’s side

mrisoftware mrisoftware | 2 years ago

Late rent payments can significantly affect a property’s cash flow. If a portion of your tenants are habitually late at paying their monthly rent, you may have trouble paying your bills and covering expenses… Which will soon have serious implications for your business. So, it makes sense to some landlords to ensure tenants pay on time by charging late rent fees. However, this shouldn’t be your go-to answer. Should I charge late rent fees? An interesting article titled “Incentive for Pay...

Addressing deferred payments for MRI Residential Management

mrisoftware mrisoftware | 3 years ago

This article was written by John Seaton, Enterprise Sales Executive from our partner, RealFoundations. In response to shelter-in-place orders and the rise in unemployment caused by COVID-19, the National Multifamily Housing Council (NMHC) published a series of recommended principles that residential owners and property managers should follow to help financially impacted residents retain their housing. … Continued The post Addressing deferred payments for MRI Residential Management appeared fi...

mrisoftware mrisoftware | 3 years ago

Residents are consumers, and as such, they expect the same conveniences and flexibility when paying their rent as they do with everything else in life. Even before the pandemic accelerated the rush towards mobile and online life, residents expected to be able to pay their rent online. Whether your multifamily community is looking to replace … Continued The post Best way to collect rent online appeared first on MRI Software.

How lease administration teams can adapt to changing workplace dynamics

mrisoftware mrisoftware | 1 year ago

Nearly every industry is experiencing high turnover at the moment, and the commercial real estate sector is no exception. New workplace trends like the Great Resignation have led to a high level of employee churn, disrupting essential processes and tasks within the business. Companies across multiple sectors are losing key individuals who have considerable influence and knowledge of portfolio management, and it can take months to backfill the positions and train new talent for the job. For many...

The Ultimate Guide to Rent Increase Notices

redfin redfin | 1 year ago

If you rent, chances are good that you’ve received a rent increase notice before. Whether you’re a tenant renting in Tulsa, OK and you just received a rent increase letter or you’re a landlord in Portland, OR preparing to send a tenant rent increase notice for the first time, check out the article below for answers to common questions tenants and landlords such as: How much notice should there be for a rent increase? How do I respond to a rent increase notice? And, how do I create a rent i...

cmgfi cmgfi | 1 year ago

How Your Rent Payments Can Help You Qualify for a Mortgage Blog posted On July 21, 2022 One of the biggest obstacles for first-time home buyers is their limited credit history. Credit history is a big factor in the mortgage application process. However, we’re now offering an alternative solution for first-time buyers. With positive rent payment history, we can include your completed rent payments in the application process, which may help boost your overall credit as...

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How to increase resident adoption of online rent payments

How to increase resident adoption of online rent payments