As the chaos of the holiday season nears, remember that rental payments are not at the top of renter’s minds.  Between Thanksgiving and New Years people often spend beyond their means, procrastinate on monthly bills, or forget about payments in the midst of festivities.  Here are some tips to help your community retain on time rental payments:

1. Announce both normal and adjusted office hours.

Although you may always have office hours posted, announce the hours again because renters are not likely to have this schedule memorized and may not be able to visit during their normal time.  In addition, it is especially important to announce all adjusted holiday hours and to do so well in advance.

• Post office times on doors.  Adjusted holiday hours should have their own attention-grabbing signage.
• Update the community’s automated voice recording to announce any adjusted hours.

2. Remind renters of their electronic payment options.

The ability to pay online or by phone can be a saving grace to a renter who who has forgotten to pay rent.  Forgetfulness is especially common during this season with adjusted work schedules and holiday events.  Make sure that even renters who prefer paper checks know they have the option to pay electronically, just in case.  They may elect to use the service to avoid a late fee or if they need to make their payment quickly.

In addition, many residents travel during this time of the year.  With major holidays like Thanksgiving, Christmas, and New Years all falling near the beginning/end of the months, renters may need to pay on-the-go.  Residents can save postage and get their payment in instantly by paying online.

3. Gifts got you low on cash?  Pay rent with your Credit Card!

During this time of the year more than any other, people tend to find themselves low on cash.  Between gifts, events, meals and vacations, renters may find they have exhausted the funds in their checking account.

An excellent solution to this problem is the ability to pay rent with a credit card using RentPayment.  Even if there is a convenience fee at your community for paying with a credit card, it is usually a much better option than incurring a late fee.  Plus, it’s another opportunity to earn rewards points!

With the economy in recession, many of our clients are experiencing “vacancy issues” as declining occupancy rates have become a growing concern. According to a report released earlier this year by Reis Inc., U.S. apartment vacancy rates have risen and rental rates have dropped, more in the past two years than it has since the 1970′s. To help combat the declining occupancy rates, we have consulted with our clients and prepared a list of tips to help managers close more leases.

1. Hold weekly educational meetings for your leasing agents.

When potential renters are making their final decision of whether or not they should sign a lease, they’ll have questions which deserve honest answers. Having an educated and motivated team not only creates better efficiency within the office but also lets future residents know that by choosing your property, they’ll be choosing a community with knowledgeable and helpful staff.
During this meeting, you can also create a checklist of the property’s key benefits, so staff is always prepared to sell.

2. Utilize RentPayment‘s in-person technology to close leases.

Property managers can use RentPayment‘s in-person payment options to accept deposits, application fees and first month rent payments instantly in the office. Perspective renters can make payments with a credit or debit card, allowing you to approve applications on the spot.

In addition, this also eliminates the need for potential renters to leave the office in search of their checkbook or money order. In-person electronic payments alleviate time spent on the application process and provide valuable convenience and flexibility for both leasing agents and renters, which can make the process flow more smoothly.

3. Maximize your web presence.

If you have a community website, keep it current! Make sure your website is listed on local directories, and contact information is prevalent to improve Google search results.

Although it can take some time to maintain an updated property website and social media pages, it is foolish not to. According to David Cardwell, NMHC Vice President of Technology and Capital Markets, “The Internet has emerged as the primary tool consumers use to find their next apartment. More than 70 percent of renters begin their apartment search online, and many firms now report more than 50 percent of their leasing activity is coming from online sources.” Maintaining web presence is time well spent when you think about the amount of people the internet can reach in such a small amount of time.

If you don’t have a website, you can easily create a web page for your property using Facebook.   Facebook can be a very simple and time effective way to update your web presence constantly and improve your prospective renter leads by posting new photos of the property, advertising amenities and providing contact info and directions. This is also a great way to communicate with residents about property news and events and post reminders to pay rent online with RentPayment.

4. Reach out to partners for promotional leasing incentive opportunities and programs.

There are numerous opportunities available for property managers that just rely on asking. Vendors often have partnerships with properties and offer deals to new renters and Property Managers. Call around to vendors to see what promotional opportunities they have available to encourage renters to sign leases at your property. By offering these incentives you can differentiate yourself from the competition and show potential renters you care about providing them with value for their money.

5. Sell your properties amenities.

The amenities at your property are important selling points to renters when comparing properties, so remember to flaunt what you’ve got. Little things like water saving toilets, professional landscaping, parking spaces, a gym, and on-site laundry can help close a deal. It’s also important for leasing agents to know businesses and attractions within a 5-mile radius because these are important details to someone who is considering the community for their new home.

Since potential renters may not have heard about RentPayment, be sure to mention the electronic payment options and their benefits. Remember, the ability to rent with a credit card and pay rent online are unique amenities that you’ve added for the convenience of residents, so let potential renters know you are up-to-date with technology.

After months in development, the RentPayment Mobile iPhone application is here! The iPhone application is available for FREE to any renter with an iPhone, iPod touch, or iPad and allows renters who reside at any RentPayment community to:

• Set up a new account with RentPayment
• Login to an existing account
• Make a payment on-the-go using a credit card or eCheck
• View Payment History
• Setup AutoPayment

Just like with online payments, the RentPayment iPhone app is 100% secure, ensuring that all renter credit card data and personal information is safe. Please let your renters know this application is available for November rent and remind them that they have another flexible option for paying electronically.

View in iTunes App Store

Test the application out yourself to see first hand it’s features and functionality. Please also feel free to rate the application and leave your comments!To download the app on your iPhone, iPad, or iPod touch, just search “RentPayment” in the iTunes app store. Or, to download from the app store online: Click here.

RentPayment: The leader in mobile payments
RentPayment is truly the industry leader in mobile payments for today’s on-the-go renter. Our flexible payment options are not only appreciated by tech savvy renters but also by those who can be forgetful about paying rent and prefer recurring payments.

In addition, RentPayment is the only rent collection service with a channel to accept apartment payments via text message through RentByText™. RentPayment also allows renters to pay rent by phone using both IVR and live Client Care Representatives 24/7. In addition, the upcoming RentPayment iPhone application will provide yet another option to paying rent over the phone! RentPayment clients should use these amenities as leasing tools for apartment rentals, because you’re supplying and amenity your renters want!

August Sweepstakes Winners

Meet some of our RentPayment Sweepstakes winners from our monthly drawing for August, each of these renters received a $100 MasterCard Gift Card!

We asked these renters: Why do you use RentPayment?

“I love the convenience that RentPayment allows you when paying rent. It is critical for paying your rent on time when you can’t go to the office to pay your rent until after the office is closed.”
- Gregory Ballard, Fayetteville, NC

“I really like the convenience of having rent automatically deducted from my checking account every month. It’s convenient that I don’t have to worry about late charges because it is automatically paid for me.”
- Terry Albright, Robinson Township, PA

“RentPayment has made it easy for me to pay my rent on time each month. I really enjoy the 5 day reminder email that is sent to me before my rent is due each month so I can make sure there is money in my account.”
- Jennifer Bosl, Durham, NC

More about the RentPayment Sweepstakes:

RentPayment is giving away $100 Gift Cards to TEN lucky renters every month for the rest of the year and a $10,000 grand prize to one lucky renter at the end of the year, just for paying rent with RentPayment!

For more information: www.RentPayment.com/sweepstakes

Three Easy Ways to Remind Residents about ePayments

1. Community Newsletter: Include a RentPayment Reminder

Your community newsletter is the place to inform renters about news, property updates and the option to pay rent electronically. We’d like to encourage our managers to include a friendly reminder to residents about paying rent online RentPayment. This would also be a great place to include any fees associated with payments or answer any frequently asked questions your renters may have about the service.

Feel free to write your own original article, or you can copy and paste an article directly from our “how-to guide.”

For RentPayment logos and and sample article text:
Download a how-to guide for including RentPayment in your community newsletter!


2. Signage: Rent Drop Box Signage

Many properties have a “rent drop box” like the one pictured to the right. This is an excellent place to post a reminder message about available electronic payment options. An ideal message to post on a rent drop box sign would include features and benefits of ePayments and how to get started. We can supply material upon request.

EXAMPLE: Residents, remember you have the option to pay rent online with a credit card or electronic check using RentPayment. To make a payment visit: www.RentPayment.com

3. Flyers

After consulting with many property managers and staff, we know that the #1 way to communicate with renters is with printed flyers. The next time your staff is distributing flyers to all units, include a reminder message about electronic payment options. Below are a few great fliers to include.

If you would like to download an 8.5″ x 11″ RentPayment flyer to print, display in your office, or to email to renters. Here are 3 options:

Click Here if your property accepts credit card and eCheck payments online.

Click Here if your property accepts online eCheck payments only and credit card payments over the phone.

Click Here for a flyer translated into Spanish

Need help? Feel free to email marketing@rentpayment.com if you’re not sure which flyer is best for your property or if you’d like to request a custom flyer or other marketing collateral for your property.

“Going green,” seems to be the current trend for consumers and business owners to claim they are following. Despite the obvious perks for adopting more nature-friendly practices, many have their doubts of whether or not the costs of applying these practices outweigh the benefits. However, by switching to a paperless ePayment system you can dramatically cut down your carbon footprint while also increasing efficiency and convenience for your company.

Javelin Strategy and Research reported that if every American household viewed and paid bills online, solid waste could be reduced in U.S. landfills by more than 800,000 tons a year and save an estimated 18.5 million trees a year. According to The Federal Reserve, over 170 million pounds of greenhouse gases are used on printing checks and bills each year.  Take a moment to think about how each document not only uses the paper it was printed on but also the gas consumed by the mail carriers to deliver it to you and your renters.

Reducing the use of paper provides benefits beyond saving the environment when using a full service ePayment solution to keep track of all your books and payment history.  Without the endless amounts of paper books and bills adding up, you can save thousands of pieces of paper as well as increase your property’s efficiency and accuracy.  Online payment systems increase accuracy by reducing the risk of human error involved with manual entry and recordkeeping.

Offering ePayment services also saves your business money and time. Electronic payment lowers costs for businesses who spend money on postage and check processing. For example, according to RentPayment.com, an eCheck costs approximately $1 to process whereas a paper-check can cost anywhere from $6 to $12 to process. In addition, the processing time for an eCheck is only a few days whereas a paper check can take up to 2 weeks to clear. The American Forest and Paper Association reports that every ton of paper costs an office roughly $1000 and can add 3.3 cubic yards of waste to a landfill.

Paperless billing is catching on as consumers become more aware of the conveniences and environmental benefits of electronic billing and payment. Surveys have shown that users not only like helping the environment, but they also like the timeliness and practicality of ePayment. Renters enjoy the assurance of securing an always on time rent payment every month without having to worry about physically dropping off a check.  Debit and credit cards are also processed by these same services. This is another benefit for the renter and helps ensure they can always make their rent payment. Renters also avoid being charged late fees while the property managers enjoy the guarantee of receiving rent every month with an automated withdrawal from bank accounts.

The Nature Conservancy sites that half of the world’s original forests are gone and each year 36 million more acres of deforestation are added to that list.  In one 24 hour period, one tree can provide oxygen for up to four people and discharge up to 100 gallons of water from the ground into the air. It’s critical that we preserve our trees to maintain our planet’s livelihood.

“Obviously, businesses and consumers won’t ever stop needing paper, but technology is helping make an impact to reduce unnecessary paper usage and waste. Electronic bill payment is a key element in that quest,” said Kevin Sander, director of corporate partnerships at the National Arbor Day Foundation

Finally, there is a way to save your property from superfluous costs and decrease unnecessary stress for you and your renters while also giving Mother Nature a much needed break too. It’s a win-win situation. Let’s all do our best to save the environment while saving our businesses money by switching to ePayment services today.

About Author:
Krista Norsworthy is a recent print journalism graduate from the Walter Cronkite School at Arizona State University and currently working as marketing intern at RentPayment.com in San Francisco.

To many, the thought of paying your rent or bills online may include hesitation and concerns about security. Since the Internet has become so pervasive and fast, it can be hard to know which online services to trust with your money.

However, RentPayment makes the transition to ePayments easy and comfortable.  With the quality services RentPayment offers, you can relax knowing your money is always transferred securely and on time.

Some may think paper checks and billing are still the safest way to go.  However, there are huge risks associated with paper payments compared to online payment. According to American Banker Magazine, more than 1.2 million fraudulent checks are written each day. That equals more than 13 per second! By utilizing e-Payments, the chance of lost, misplaced or stolen checks is no longer a concern.

The truth is, problems with electronic payments are extremely rare.  Due to accelerated processing times and instant return notification to the payee, the electronic check conversion process has proven effective in fewer returns, earlier fraud detection, and fewer errors.

Paying your rent and bills online can actually be safer than taking them to a bank or writing checks. According to NACHA (The Electronic Payments Association), almost 85 percent of identity theft occurs with offline transactions. In addition, RentPayment’s ePayment platform has received the highest level of security the federal government can award to a business processing ePayments, including PCI compliance and SAS 70 certifications.  Personal data remains safe and secure on a private network that is only accessible by RentPayment security-screened employees.  Furthermore, payer information is never released to third parties or banks.

With RentPayment, safety is guaranteed and convenience is promised. With our services, you’ll never forget to pay your bills again thanks to the email and text alert applications that remind you when money is due and/or withdrawn.  To add to the list of conveniences, our electronic payments typically clear your account in about two business days, whereas paper payments can take weeks. Recurring direct debit payments can also be set up using AutoPay, eliminating late fees and penalties.  In addition, keeping record of your payments and direct deposit details has never been easier thanks to our payments archive, which keeps track of your payments in an online database that you can easily access from anywhere.  Now you don’t have to worry about endless amounts of paper and books to keep track of.

It’s time for a more convenient and lower risk solution – ask your property management company today if you can pay your rent using RentPayment!

Having good web presence and accessibility to RentPayment is the best way to increase awareness and adoption.  To accomplish this, we suggest adding a “Pay Rent Online” button to your community website to directly link renters to your property’s RentPayment login page.  A second suggestion is to also upload your community’s logo to this page.  These two features will help your renters know their payment is safe and avoid them making a payment to the wrong property.  In addition, this is another great way to build your brand and help extend your community branding all the way to your electronic payment processor.

Best Practice 1: Add a Link to Your RentPayment Page on Your Community’s Website

The ability to pay rent online is an amenity you should take advantage of when promoting your community to both current and prospective renters. A direct link from your site yo your community’s RentPayment login page provides convenience for your renters as well as a feeling of security when making an online payment.  Our most successful clients place direct links to their RentPayment login page on their  management company and community websites in order to speed up the payment process.

Tip: Placing the RentPayment name and logo on your website is even more beneficial.  Co-branding your website familiarizes renters with RentPayment so that they can easily recognize it as their community’s electronic payment processor.

Best Practice 2: Add Your Logo to Your RentPayment Page

RentPayment offers customizable login pages to co-brand your account’s payment page with your company’s logo.  Co-branding your payment page helps renters recognize your management company so they are further familiarized with RentPayment.  Below is an example of where your logo will appear on the payment page.

Click here to download instructions on how to achieve custom web branding with RentPayment

RentPayment: Where Paying Rent Pays you Back!

RentPayment has hosted more promotions this year than ever and awarded several renters with cash, gift cards and even a month of free rent.  We will be ending 2010 with our biggest and best, and would like to announce the RentPayment Sweepstakes which will run for the remainder of 2010.  This exciting offer will help Property Managers get the most value out of their service by boosting RentPayment awareness and providing an incentive to convert to electronic payments.

Each month from August 1 to December 31, 2010, 10 renters that pay their rent using RentPayment will be awarded a $100 gift card and at the conclusion of  the Sweepstakes, one renter will win the $10,000 Grand Prize!   In all, RentPayment will award $15,000 in prize money over the remainder of 2010.

“It’s exciting to reward our customers for their loyalty to our service,” said Matt Golis,  CEO. “We’ve experienced tremendous growth in electronic rent payments in 2010 and look forward to continuing to provide the highest quality of  service to our customers in the future.”  The RentPayment Sweepstakes runs from August 1, 2010 to December 31, 2010 and is  open to ALL individuals mte social media oaking a payment during that time period. Payments can be made online, over the phone, in-person, and via mobile devices including our exclusive RentByText technology.  Each payment is recorded as one entry towards the Grand Prize, giving users a maximum of 5 entries towards the $10,000 Grand Prize. The sweepstakes will also incorporautlets such as Facebook, Twitter, LinkedIn and more.

Full details of the Sweepstakes are available at:
http://www.rentpayment.com/sweepstakes

As summer hits its peak and fall approaches, so does student housing season.  This is an exciting time of the year for our student housing communities as managers prepare for residents to move in before fall classes begin. Below are some tips to help Property Managers promote electronic payments to incoming student residents.

Communicate with parents prior to move in. Many parents who still pay the bills would love to put their child’s rent on a credit card or sign up for AutoPay and never write a rent check again!  Make sure to mention all available electronic payment options.

Read all about it! Mention RentPayment in your community newsletter, or we can provide you with content and our logo to make it very easy.

Welcome new residents. Do you make welcome packets for new renters?  If so, make sure to include a RentPayment brochure.

Magnets for all! If apartments are inspected or cleaned before new renters move in, place a RentPayment magnet on the refrigerators of all newly leased units.

Get Social. Community networking sites are a great source for reminding renters about their ePayment options
Facebook: Post a status update with your property’s RentPayment link, encouraging students to pay electronically.
Twitter: Tweet at the end of the month that rent is due, and include your property’s payment link.

No checkbook? Use your debit card! Many students today don’t even have a checkbook.  Instead of sending them to the bank, remind them they can pay with their debit card online.

Using email communication? Send a friendly reminder to renters to pay rent online – or let us create an email campaign for you!

Accept ePayments to close leases on the spot! When apartment-hunting students stop by your property without a checkbook for deposits and application fees, remember you can accept these payments by credit/debit card using RentPayment.

Interested in an email campaign or want marketing materials?  You can receive brochures, magnets, door hangers, and more for FREE, just email:  marketing@rentpayment.com.