If you aren’t currently using social media to communicate with your residents I think you will be surprised to find how beneficial it can be. You can use social media sites like Facebook and Twitter to maximize your community awareness, attract renters, and stay ahead of the marketing game. An easy way to encourage residents to pay their rent online is to post a link on your Facebook or Twitter page!

Tips for Rent Reminder Facebook Posts and Tweets

• Providing a link to take residents directly to your payment page will make it as easy as possible for them to pay instantly. 
• If you post a link to your properties login page, automatically generated text will appear.  Feel free to change this text and customize your message.
• When posting, point out the benefits of paying with a credit card or eCheck.  This can include: payment security, good for the environment, fast safe and easy, etc… 
• This is also a great place to remind residents of their payment options (eCheck, Credit Card, AutoPay, etc…)  and any payment fees that may apply at your property. 

For more information on social media tips email us at Marketing@RentPayment.com for a social media guide and a social media consultation. 

Ever forget your wallet and wish you could use your cell phone to pay for your daily cup of coffee? Those days have arrived. It’s 2012 and mobile payment technologies are booming, making payment transactions for residents faster and easier than ever. According to a Juniper Research study, it’s predicted that mobile payment users will grow by 40% to reach 2.5 billion globally by 2015. Payment transactions made through text messages continue to grow rapidly while other new mobile payment technologies and smartphone applications gain in popularity every month. Other mobile technologies, such as near field communication (NFC), allow people to make payments in stores, directly from their mobile phones quickly and securely.

With our lives mostly on the go these days it just makes sense to find ways for people to easily pay their rent. RentPayment has vowed to give renters a multitude of payment options including mobile payments with RentByText and our RentPayment Mobile iPhone App. Below is a video with more information on our mobile payment options:

Mobile payments help Property Managers Bridge the gap between technology and in person payments making them fast, easy, and secure. Properties see the benefits of accepting electronic payments for rent, including more on time payments, integrated accounting and higher closing rates on leases. Email us at Marketing@RentPayment.com to find out ways we can help get residents at your community making mobile payments today!

Money saving web sites such as Living Social, Groupon and ShopKick, have spread through the World Wide Web like wild fire. A survey by RedPlum reported, more people are searching for coupon codes prior to making a purchase and most are members of several reward programs. Are you taking advantage of this money saving, coupon clipping, mentality at your property?

This thrifty trend has opened the doors for innovative and relatively inexpensive ways to increase renter retention and resident satisfaction in the multifamily housing industry.  Many apartment communities currently offer cash rewards if a resident refers a friend, renews a lease, etc.  Although this is a great incentive to a resident, the value of the reward is equivalent to cost to the property, denting your property’s revenue.

The latest trend in the multifamily housing industry is to utilize resident rewards programs rather than cash based incentives. These rewards programs can vary from point based systems to simply offering discounts and coupon codes.  Points or rewards can be given for anything you choose, like renewing leases, referring friends, or helping around the community. The greatest benefit of resident reward programs is you no longer have to give dollar for dollar incentives. The perceived value of a discount or reward is usually much higher than the actual cost to the property.  You can finally reward resident loyalty without “breaking the bank!” 

Although initiating a resident rewards program can seem like a daunting task, as it could take some planning , it has the ability to set your property or Property Management Company ahead of the competition. You can also reach out to local merchants and companies that would like more business from your residents about coupon and discount offers. You would be surprised how many would jump at the chance to give your residents freebies. Resident rewards can prompt renewals, increase referrals and get your residents more involved at your property; so why not give it a try?

RentPayment is always available to discuss reward programs for your renters, whether it be coupon codes, rebate offers, or gift card giveaways, we are ready to work with your property. If you’re interested in learning more about RentPayment promotions, feel free to contact us at Marketing@RentPayment.com.

Want to learn more about Resident Rewards? Read this article by Multifamily Executive.

How do you communicate with your renters? Communicating with residents in the digital age is quicker and easier than ever if you know how to capitalize on the available technological resources! According to CNET News, Americans now spend an average of 13 hours online a week, excluding email. Why not communciate with renters via these same channels? We bet you’ll have a much greater response. Consider using digital communication for rent reminders, community announcements, and maintenance requests, among other things.

Gathering Resident Emails: It’s as simple as requiring an email address at the time the lease is signed and requesting email addresses on rent checks, maintenance requests and forms, as well as using email as your preferred communication avenue. With an email, residents are able to open the message and take action immediately or at their convenience. This channel is also easy to use, considering you can reach all residents with one single email.

For your convenience, RentPayment offers customized email blasts for your community. If requested with ample time (usually one week in advance), we are able to build a payment reminder email that can reach your residents instantly. Please contact Marketing@RentPayment.com if you are interested in learning more.

Social Media Platforms: Tools such as Facebook and Twitter are a great way for residents to feel more connected to your property. If your renters are talking about your property – potential renters will as well. These outlets allow for two-way communication and for your residents to be more candid with you about their wants and needs.

Text Message Communication: With many people opting to forego landlines these days, cell phones have replaced them as the most common communication tool. Collecting phone numbers and confirming that residents do in fact receive text messages, is a great means of communication for short messages (usually under 160 character spaces). However, be cognizant and try and keep text messaging to a minimum and reserve it for important messages.

Video Sharing: Making video announcements and tutorials can be a fun and innovative way to share news and information with your residents. Videos can also be wonderful leasing tools. Looking for ways to energize or motivate your team? YouTube, Vimeo and Tout are a few of the websites that can be used to post videos on and the videos are fun to create as a team.

YouTube and Vimeo both allow you to create customized channels where all of your videos can be aggregated. You are able to brand these pages to your community and residents will be able to access new and older videos through a video library.

Tout is a new micro video website. Users can create 15-second videos from an iPhone or pull clips from a YouTube video. This is great for frequent and brief one-way communication with residents.

Everyone loves a good deal and it’s fair to say that if someone had the option to pay a lower price, they would, despite their economic situation.  In fact, a survey by RedPlum reported an overwhelming 96% of shoppers (of the 23,000 surveyed) claimed they would still use coupons even if they won the lottery! This “save when you spend” mentality has only become more prominent in our society since the onset of the most recent recession.  More people are spending additional time surfing the web for added discounts, free shipping, and promotions. NCH, a coupon processing and information management company, reports the overall coupon redemption volume in the United States grew 3.1% to 3.3 billion consumer good coupons, in the past year alone.

The digital age has definitely facilitated the process of the “deal hunt,” as online coupon usage is on the rise.  Naturally, online retailers of all sorts have had to jump on the bandwagon and start satisfying consumers’ need to save, increasing the number of digital coupon offers by 37% in 2011, as reported by the NCH.

RentPayment thinks it’s time for the multi-family housing industry to dive into the coupon craze and utilize online coupon codes.  We can now proudly say, we too have contributed to the 37% increase in the number of digital coupon offers in 2011! Our “Love at First Click” Student Housing promotion marked a new beginning for RentPayment promotions.

From here on out, be on the lookout for RentPayment coupon codes for your community’s residents.  They might just have the chance to enter one of our exciting promotions or sweepstakes and win amazing prizes or discounts, just for paying their rent online!

The RentPayment marketing department would like to give a special thank you to all the property managers and amazing management staffs, who put in extra time and effort to spread the word about our Love at First Click Promotion.  We know fall move-ins can be extremely hectic and busy, yet every one of you did an amazing job! Without the help of such great management staff, our promotion could not have been such a success! 

Two communities in particular really stood out this year. Not only did they go above and beyond by handing out and displaying RentPayment marketing materials around their property, posting on Facebook and sending us pictures, but they also increased RentPayment usage, immensely.

Therefore, we would like to award their hardworking management staff with a small prize. 

The Reveille Ranch Staff

Our first place student housing community and the winner of a $300 MasterCard gift card is, Reveille Ranch, a Jamespoint Management property. Reveille Ranch increased usage at their property by about 75% throughout our Love at First Click promotion!

Here is what Property Manager Travis had to say when we asked him a few questions about RentPayment.

Q: How did your property convert residents to ePayments? What is your advice to fellow property managers to help increase RentPayment usage?

A: The primary thing we do is encourage residents to make their payments online. It all starts with the lease application.  As a property with a lot of students, we close a lot leases via email, fax, and phone.  We find that if a future resident pays the application fees on-line they’re very likely to make their rent payments online.  We also make a point to hand out RentPayment flyers during move-in day.  With many parents making their payments for their son/daughter the ability to pay from their computer without having to mail a check in is a big convenience.

Q: What would you say are some of the benefits Reveille Ranch receives from high RentPayment usage?

A: The primary benefits are the amount of time we save from not having to process checks and the added security of payments being handled by RentPayment rather than employees.  Not to mention, there’s a money trail with RentPayment. No more dealing with “check lost in the mail” or “I dropped it in the drop box last night, you must have lost it” excuses!

The Gateway at College Station Staff

Our second place community and the winner of a $100 MasterCard gift card is Gateway at College Station, a DMC SUH Management property! Gateway at College Station took social media to another level!  We saw constant Facebook posts reminding residents to pay rent online for a chance to win, as well as reminders in their monthly newsletter. Gateway did an amazing job of keeping us updated and displaying their efforts by sending several pictures throughout the entire promotion.  Lastly, by this year’s student housing promotion’s conclusion, Gateway at College Station had over 35% of their residents making online payments!

The multi-family housing industry is a robust and unique industry that has found significant growth in occupancy and revenue despite our country’s economic downturn.  The Census Bureau and the National Multi Housing Council (NMHC) survey claim thirty-three percent of Americans live in renter-occupied housing.  For many, the first thing that comes to mind when hearing “multi-family” industry or “apartment” industry is large property  management companies.  However, the truth of the matter is, most rental properties are in fact owned by individuals, not large corporations.  An unpublished Census Bureau Property Owners and Managers Survey as stated by NMHC, revealed that 46.9% of all rental properties are owned by individuals, 20.3% by partnerships and only 5.8% by real estate corporations. 

The majority of apartment buildings in the United States are not thousand unit high-rises, but rather they are complexes with fewer than one hundred units.  Seventy-nine percent of all rental properties in the United States have 2 to 4 units. Only 2% have over one hundred units, meaning 98% of all rental properties in the United States have less than one hundred units according to NMHC tabulations of a Residential Finance Survey.

Because most multi-family housing properties are so small, electronic payment options are not available to the majority of American renters.  Electronic rent payment acceptance would be such an immense benefit for these smaller properties because it is likely that most individuals who own small complexes have other careers as well.  Therefore, spending time and effort to collect paper checks, make a trip to the bank, keep track of payments and post late notices could be extremely costly. Not to mention, residents of such communities are likely unable to stop by a leasing office to simply hand in a paper check. Instead, residents are required to purchase postage and mail a check well in advance of their rent due date to ensure their payment gets made on time and without penalty. 

The multi-family housing industry is evolving and participating in the digital revolution we are currently experiencing.  Eighty percent of all large property management companies already provide their residents with electronic payment options. It only makes sense for the largest bulk of the multi-family industry to jump on board and begin accepting electronic payments with a safe and secure electronic payment processor like RentPayment.  American renters deserve the flexibility of online payment options, so why not find a way to give it to them?

For more information about how to get RentPayment at your property contact Sales@RentPayment.com.

The internet has changed the way we do everything. It has completely transformed the way we conduct business, updated the way we shop and reinvented the way we communicate. Just as the internet has changed how we go about our daily lives, it also has changed the way residents search for a new rental property. According to the National Multi Housing Council, “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.” This means that in order to stay ahead of the times, property managers need to be using the latest tools the internet has to offer to market to potential residents.

Internet Marketing Tips to Keep you Ahead of the Competition:

• Internet Listing Services (ILS) are a cost effective way of generating leads for your property and increasing your number of closed leases. Renters’ top three criteria for choosing an ILS are the number of properties listed, the amount of detailed information on each property, and the sites ease of use and functionality.
• Property Specific Websites are extremely important since potential renters will be checking for contact info, photos, floor plans and prices. Renters generally start their search on ILS but usually rely on property specific websites for more information when they narrow their search down.
• Detailed Lease Source Tracking is imperative to testing the success of your marketing channels. This will help you better plan future promotions by tracking which methods are closing the most leases.
• Call Centers provide additional resources to satisfy renters’ queries 24/7, offering communication channels online and by phone.  They are a great way to close leases by creating appointments with residents to come view your property. Lack of timely responses to phone and email inquiries are noted as the biggest reason for renter complaints and loss of potential leases.
• Search Engine Optimization can provide long lasting results for larger property management companies as it is great for turning leads into leases. However, it can take a long time for the effects to be measured and requires constant updating to your website content.
• Online Rent Collection is a great selling point to potential renters.  Advertising on your website that you accept ePayments with RentPayment will let potential residents know that you offer a wide variety of flexible payment options and it shows that your property is up on the latest technology to meet the current rental market’s payment demands.

Using a mix of these online marketing methods will help your business grow and convert more leads into leases. For more online marketing strategies, check out the NHMC’s White Paper: Multifamily Marketing in the Internet Age.

With September right around the corner, the RentPayment marketing department wanted to remind all the properties participating in our Love At First Click Student Housing Promotion, that there are several ways to increase your residents’ awareness of electronic payment options! RentPayment’s Love At First Click Promo is nearing it’s end and we want to help your property benefit from electronic payments, and help your residents, earn 1 of 3 AMAZING prizes. Don’t forget, any of your residents who make a payment and enter the promotion code “LoveAtFirstClick” on their payment page from now until September 25th, are automatically entered to win an iPad, $1000 MasterCard Gift Card or a trip for two anywhere in the United States!

Here are some quick tips on how to spread the word (and the love) about RentPayment’s Love At First Click Promotion and the availability of electronic payment options at your community:

• Have a Community Facebook or Twitter? Make a quick status update reminding your renters to pay their rent online with RentPayment and tag @RentPayment on your Facebook or Twitter.
• Have a Community web or print Newsletter? Include RentPayment in your monthly newsletter. Email Marketing@RentPayment.com a copy or link to your newsletter to be included on our blog!
• Have RentPayment Marketing Materials displayed at your property? If you don’t, email us and we would be more than happy to send some. If you do, we’d love to see some pictures and share them on Facebook! Send your pictures to Marketing@RentPayment.com.
• Have Resident Email Lists? RentPayment can create customized eBlasts that match the look and feel of your property, to send to your residents. Let us help you remind them that rent is due and that they have the option to pay online.
• Have a Move-In Party or Event? Request promotional giveaway items for move-in parties and events and send pictures to Marketing@RentPayment.com.
• Have Creativity? Make a quick and fun video about RentPayment and share it with your residents via social media! Get creative and have fun! Check out our YouTube Channel for past video submission ideas.

With these easy tips, we guarantee RentPayment awareness will increase and your property will begin experiencing lower operating expenses, improved cash flows, more on time payments and happier residents, in no time! Feel free to contact Marketing@RentPayment.com for further assistance in transitioning your residents to electronic payments.

It’s no secret that collecting rent from residents can be a tedious and time consuming endeavor, especially when property managers use outdated or inefficient methods. Landlord.com and the Tenants Screening Blog have recently profiled some of the most outlandish and outdated rent collecting methods.  Here are some examples of the extreme lengths property managers have taken to collect rent in the multifamily housing industry. Luckily for you, all of these headaches can be avoided by transitioning your residents to electronic payments with RentPayment. 

• Filling out 12 Self-Addressed Envelopes for Every Unit: It’s safe to say that no property manager enjoys opening hundreds of envelopes each month.  However, the idea of having to make 12 self-addressed envelopes for each and every unit in your community seems completely inefficient and borderline humorous.  Property Managers should be able to focus their efforts on improving their community, acquiring new leases and streamlining their workflow, not self-addressing envelopes.
• Individual Bank Accounts for Every Unit: Imagine the headache of opening up a separate banking account for each unit and asking your residents to deposit the money directly into their specified account each month. Property managers that use this method have to confirm each unit has deposited the correct rent amount and on-time and open /close accounts whenever new leases are signed or old residents move out. This increases the property manager’s workload exponentially!  Why not integrate your accounting software with RentPayment and completely automate the process? We can even keep a payment record archive for all current and previous renters forever.
• Cash or Money Order Drop Boxes: Drop boxes have been known to increase the likelihood of theft and fraud in apartment communities. Methods to make drop boxes more secure have been passed around for years in the multifamily housing industry.  But the bottom line is that no external drop box is safe, and it could be a source of payment disputes over the amount of rent paid or incurred late fees.
• Creating a Monthly Bill for Every Unit: Besides that fact that you have to create and print individual monthly bills for every unit, someone has to deliver them. Skip the printing, save some trees and utilize electronic communication with your residents.  Residents at your property are able to sign onto their RentPayment account from any internet connection, 24/7 and see their account balance* or receive click pay reminder emails (another form of an invoice).  Another example of utilizing RentPayment’s marketing resources is in the form of custom eBlasts, that can be sent to your residents as a “Rent’s Due” reminder. *Available with most property management software integrations.
• Require 12 Post Dated Checks: This method involves having residents fill out 12 postdated checks upon first signing the lease.   By allowing credit card payments, residents are able to pay their rent even when they may not have the whole rent amount in their checking accounts.  Electronic payment solutions also allow residents to sign up for services like RentPayment’s AutoPay.  AutoPay is a recurring monthly debit from your checking account in the form of an eCheck, an electronic version of a paper check.
• Collecting Rent Door-to-Door: This method is as tedious as it sounds, and not to mention, dangerous. No property manager should have to deal with the confrontation that comes with knocking door to door to collect rent. This method could also result in payment disputes as there is no paper trail or better yet, e-trail.   

The benefits of electronic payment methods are clear; they save you both time and money.  Educate your residents on the benefits of electronic payments and start to enjoy the ease and convenience of collecting with RentPayment. 

For more information about your RentPayment services please contact CustomerService@RentPayment.com. 

For assistance with promoting RentPayment at your community feel free to contact Marketing@RentPayment.com.  Or CLICK HERE to learn more about RentPayment’s marketing advantage.