A recent survey from NARPM (National Association of Residential Property Managers) asked Property Managers what they believe the benefits of “going green” are and how they are making efforts to reduce the carbon footprint at their communities.

The study reports that:

“76% of all property managers are very interested in using less paper.
Moving towards a paperless office eliminates ink cartridges, hours of
filing, pricey bank checks, postage and paper.”

To accomplish this, managers are turning over to web-based technology.    Web-based technologies for the property management industry include:   property management/accounting software, increased use of email, online document storage and electronic payment platforms (such as RentPayment.com).  One of the biggest “green” benefits to these web-based technologies is concurrent reduction of paper and waste associated with moving to online systems.   

Primary technologies used in Property management offices to reduce paper consumption and waste.

Above is a chart produced from NARPM’s survey outlining the types of technologies used in Property Management offices to reduce paper consumption and waste.  We’d like to show you how even converting just one portion of your business, payments, from paper-based to web-based can make use of all of these technologies and drastically help the environment.  Here is how our payment solution can help with all of these “green” initiatives:

Email: RentPayment sends email notifications of your choosing for all possible resident actions that occur in the online payment system.  All notifications and payment receipts are emailed instantly and can be stored or forwarded via email to residents.  In addition, RentPayment also provides email marketing solutions for Managers.  We can set any property up with a custom email blast to notify all renters of electronic payment options.

Scanning:  RentPayment also offers check scanning.  For those residents who do still write paper check, these checks can be passed through a scanner.  When checks are scanned, the names and payment amounts are automatically read and inputted into the payment system and an image of the check is captured and stored.  This means all paper checks are ultimately treated as if they were electronic payments and can be stored and filed along with all other “green payments” coming in online.

Online document Storage: All documents associated with payments (receipts, batches, notifications, reports) are all stored online digitally forever.  In addition, every notification that is sent is automatically stored forever in a special section called Email History.  This means you never have to worry about printing emails for your records, and they are always accessible online.  Also, for check scanning communities digital check images are stored like a photo copy for every resident payment.

Accept Online Payments: RentPayment is the industry’s leading electronic payment processor, allowing over 3 million residents to pay electronically with credit cards and eChecks.  Plus, there are options!  Even if residents are out of town with no internet access, there is no need to mail a paper check…. Residents can sign up for AutoPay or use RentPayment’s mobile payment options, including Pay By Phone, text message and the RentPayment iPhone app.

Web Based Property management Software:  RentPayment integrates with several Property Management softwares, including: Yardi, Rent Manager, AMSI, Real Page and more.   This allows for all resident data, including payment history to be stored online in real time and not on paper.

Dear Residents,
Help me help you avoid late fees with electronic payments from RentPayment.  Pay online, by text, or by phone 24/7!

Sincerely,
Property Manager

P.S.  Please ditch those checks!

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.

Thanks to the internet and social media, consumers can instantly learn more about companies and how they interact with their patrons.  A growing trend is the use of social media to share consumer experiences and express opinions online.  Consumers no longer need to call a company or take the time to fill out a comment card to ensure their comments are heard. Now they can use social media and user review websites to share their experience with past and potential customers instantly.

Not only is this more convenient for consumers, but it also assures that their feedback is actually making a difference, since it can be heard by thousands of people online.  For these reasons, the number of consumers actively using social media to research companies has increased dramatically. This growing trend shows just how critical it is for companies to be aware of their reputation on the internet and manage it accordingly.

Here are some tips on how to use social media to maintain a positive social media presence:

1. Use social media as a way to better improve your business.

Listen and appreciate what your customers say online and embrace inbound reviews, both good and bad. Social media opens the door to a whole new audience of users that are more active and involved than ever with what products and services they use.  Hearing directly from your patrons is the best source for learning more about your business and how you can improve it.  Even a bad review should be embraced as a learning opportunity rather than a burden. It is a chance to correct a problem or induce positive change in your organization.

If you’re using a social media site that allows you to respond to consumer feedback, feel free to interact with customers when appropriate and use your site as a forum for two-way communication.  If a question can easily be answered or a problem can quickly be solved online, take the time to do so.  Should you have negative feedback online, try to help the situation by responding with helpful information or a possible solution.

2. Encourage customers to participate, especially those who have had good experiences.

Some social media sites that are not focused on user reviews have recently added this component as an option.  For example, Facebook now allows businesses to set up a “Reviews” tab on their business’ fan page. User review sites like Yelp or Digg are home to review pages beyond your control, and creating your own feedback forum will show you are eager to listen.  Invite customers to participate or offer an incentive for reviewing or taking a survey. If you come across an especially pleased customer, make sure you invite them to review you. The better reviews you get, the more potential residents will be interested in your property.

3. Make sure your social media content is valuable and relevant.

Many companies are connected to social media simply to create buzz and often end up flooding followers with too much irrelevant information. Overloading users with status updates, tweets and constant self promotion can be off-putting and come off as unprofessional. There is a fine line between using social media to improve your online presence and overdoing it to a point where consumers can no longer take you seriously.  Finding balance and posting only valuable content is key to keeping a good repoire in the webosphere.

Examples of valuable content include: current offers & promotions, helpful tips, new product or service enhancements.  While content should be meaningful, don’t be afraid to entertain followers as well.  Sharing entertaining media (such as viral videos or fun facts related to the industry) is another great way to maintain an active fan base.

4. Share the positivity.

Use your social media site to share good press and reviews posted online or on other social media sites.  Also, feel free to share some of your corporate culture with viewers, including pictures from a company event or charity work employees have done.  If your business has received any awards & recognitions or if there are any accomplishments that have enhanced the consumer experience – write about it!

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.

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

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.