With summer closing in on us, RentPayment is gearing up for one of the busiest times of the year—the start of a new school year.  Because many of our clients include Student Housing communities, RentPayment works closely with them to help convert their student residents to using electronic payment options. Electronic payments are particularly beneficial to such communities because they allow for more efficient and effective rent collection.  Parents no longer have to worry about their students not paying rent, or sending in late rent checks. With RentPayment, anytime is a great time for students to pay their rent with ease online or by phone with a credit card or an eCheck! 

Each year around mid to late August, student housing communities experience a huge influx of new residents.  In many cases, the biggest obstacle in transitioning residents to electronic payments is awareness. Our annual Fall Move-In Student Housing Promotion allow us to inform student residents and their parents of their electronic payment options from Day 1!

This year, RentPayment is partnering with over 100 Student Housing communities in our 2011  “Love At First Click” Promotion.  Any resident of a participating community who makes an online rent payment and enters the promotion code “LoveAtFirstClick” on their payment page from July 25^th to September 15^th, 2011, is automatically entered to win one of three AMAZING prizes!  The best part: the winners get to choose the prize that they love most! Three winners will be chosen to win an iPad, a $1000 MasterCard gift card or a trip for two anywhere in the United States*.

If your Student Housing Community is participating in RentPayment’s “Love at First Click” promotion, spread the love (and the word) about RentPayment and begin reaping the benefits of transitioning your residents to electronic payments! As a property manger you will experience lower operating expenses, faster cash flows, more on-time payments, and happier students and parents. 

Don’t let your residents miss out on the chance to experience Love at First Click! Feel free to contact Marketing@RentPayment.com for further details or to request complimentary promotional marketing materials.

*For more information, visit www.RentPayment.com/LoveAtFirstClick

The process of transitioning residents to electronic payments can sometimes be quite daunting and difficult for property managers.  RentPayment offers several great services to help market ePayment services to apartment communities and increase the usage of online payment options.  Among these great services are custom promotions designed and implemented for select Property Management Companies and Multi-Family Housing Communities.  For these management companies, we host promotions and incentivize residents to make the switch to electronic payments. 

We are currently hosting a promotion for four property management companies designed to help increase the number of residents who use AutoPay.  AutoPay is an automatic recurring monthly debit from your checking account in the form of an eCheck. An eCheck is an electronic version of a paper check used to process direct debit from residents’ bank accounts using bank routing and account numbers. With this service, residents never have to remember to write a rent check or deal with late fees ever again!   Any of the participating properties’ residents who sign up for RentPayment’s AutoPay by eCheck service between July 1^st and August 5^th, 2011 will be automatically entered to win a $200 MasterCard Gift Card!

For more information on the promotion click here.  If your property or property management company is interested in having RentPayment host a promotion to incentivize your residents to convert to electronic payments, contact Marketing@RentPayment.com to schedule a marketing consultation to further discuss the options available at your community!

Whether utility expenses are paid by residents or the Property Management Company we can all do our part this summer to help save energy and resources.  Decreasing our energy consumption is not only good for the planet, but great for our pocketbooks as well. 

By now, we should all be familiar with commonplace energy saving tips such as: turning the thermostat up higher (for example, 78° F instead of the usual 72° F), turning the lights off when leaving the house, washing only full loads of dishes and laundry, and closing the blinds during the day.  However there are other unconventional and less widely known tips that can also help renters and Property Management Companies save money. Here are a few of the best unconventional tips you can share with residents to help conserve energy during the hot summer months.

Use compact fluorescent light bulbs.  According to the US Department of Energy, compact fluorescent light bulbs can save up to 75% off the average energy cost of lighting versus incandescent bulbs. This is a substantial savings considering lighting accounts for 15% of the average American family’s annual energy consumption. 

Mitigate phantom power usage.  Many gadgets, electronics, and appliances use phantom energy when it’s unnecessary.  According to the US Department of Energy – in the average home nearly 75% of all electricity used to power electronics is consumed by products that are switched off.  These energy wasters include DVD players, TVs, stereos, computers, kitchen appliances, and much more.  Most important to acknowledge are chargers for cell phones and computers.  If you leave your chargers plugged in all the time you should know that only 5% of the power drawn by the charger is used to charge the device and the other 95% is wasted.

Put lamps in the corners of rooms.  Compared to putting lamps against flat walls, putting lamps in the corners can help spread more light.  If the walls are light colored, the light will bounce off of the walls and ceiling, helping to maximize the amount of light.

Don’t overcrowd your refrigerator or leave your freezer empty.  Having less in your refrigerator keeps it from having to work so hard to keep everything cool, consuming less energy.  Keeping your freezer full has the opposite effect; it helps the freezer stay colder while expending less energy.

Pay your rent with RentPayment.  Paying rent electronically with RentPayment cuts down on paper consumption, saves gas by limiting  trips to the bank, and provides time and money savings all around.

Arrange furniture intelligently around A/C vents.  By arranging your furniture so it does not block air conditioning vents you will be able to maximize the cool air flow .

Reduce cook times by thawing frozen foods.  Thawing frozen foods  prior to cooking  will cut down cooking times, helping to expend less energy while preparing the meal.

Utilize the toaster oven and microwave.  Cooking with the toaster oven and microwave can help save energy compared to cooking with a conventional stove or oven.

These few unconventional tips along with commonly known energy saving methods will help you and your renters save money and energy this summer.  Spreading awareness throughout your community to staff members and renters alike will benefit all.  For more tips, check out the US Department of Energy’s Energy Saving Guide.

Top 10 Reasons Renters Utilize RentPayment for Online Rent Payment

1. CONVENIENCE! RentPayment’s flexible payment options allow renters to pay any time from anywhere using almost any device.

2. Save time.  EPayments can be made in less than 20 seconds.

3. Pay on the go. RentPayment’s remote payment options include: online, by phone, by text, or with our new iPhone application.

4. AutoPay. Enrolling in AutoPay ensures rent is paid on-time, every time, with no oversight.

5. Secure and reliable. Online payments are PCI Compliant and secure. There is no need to worry about checks getting lost in the mail; residents receive instant payment confirmations and email notifications that they have paid.

6. Service. Customer Care Representatives are available 7 days a week.

7. Incentives. Recurring renter promotions and rebates are available, offering exciting prizes for switching to electronic payments.

8. Rewards. Renters can earn rewards from their credit card company. If they need to keep their cash they can pay their rent on a credit card.

9. Payment reminders. Renters can receive monthly reminders from RentPayment, ensuring no late fees are accrued.

10. Go green. Reducing paper consumption tremendously reduces waste and is great for the environment.

Brody’s Yap:   Top 10  Reasons Why Managers Love RentPayment

1.  Automate accounts receivable. Online payments eliminate administrative work and the potential human errors associated with manually processing paper checks.

2. Close leases quicker. Close leases on-the-spot by accepting credit card payments for application fees and security deposits.

3. Lead the competition. Distinguish properties from the competition by promoting online payments as an amenity that has been added for renter convenience.

4. Optimize cash flow. Electronic payments help more residents pay on-time, which optimizes cash flow. AutoPay and mobile payment channels are just some of the features that allow Property Managers to collect more on-time payments.

5. Support. All RentPayment clients receive a dedicated Account Manager for training and on-going support for all technical questions. Each RentPayment renter has a Client Care Representative ready to process payments over the phone or trouble shoot any account questions that may arise. In addition, the RentPayment Marketing team provides a variety of tools to help Property Managers increase resident adoption of electronic payments and reach their goals.

6. Payment security. EPayments reduce the risk of delinquent checks and protect renters and properties from fraud, check theft, and administrative errors through next generation payment technology and certified PCI compliance.

7. Increase productivity. Payment data automatically posts in real time to your accounting software, email deposit notification and superior line item reporting save time and increase productivity for onsite management.

8. Predict revenue. Money is in the bank account and at the property’s disposal in two business days.

9. Instant payment platform. Create an online payment platform or webpage just by signing up; a community website or web developer is not needed.

10. Increase lease longevity. Tenants are more likely to stay at a property longer when signed up for automatic payments via AutoPay.

To celebrate Valentine’s Day – YapStone (RentPayment‘s parent company) held an inter-office fundraiser encouraging employees to donate to this year’s choice charity,  Save a Child’s Heart.   YapStone generously offered to match all donations contributed from it’s employees and in the one week donation timeline, the company was able to raise over $4,000!

All employees that contributed were featured on the Wall of Hearts, displayed in the YapStone San Francisco headquarters, pictured above.  Thanks to all employees who contributed!

Learn more about Save a Child’s Heart

A high paw to Anthony Jimenez!   Anthony was named as YapStone‘s Employee of the Quarter for Q4 2010.    He is currently the highest producing Account Executive for VacationRentPayment (RentPayment‘s sister company, processing vacation rental payments).  With a demonstrated track record, Anthony has had great success when selling VacationRentPayment’s business solutions to small and large size vacation rental management companies.

A certified California Real Estate Agent, Anthony also has experience in real estate, development and multifamily property experience as well.  He has also been a member of  the Vacation Rentals Manager Association since joining the vacation industry and prides himself on the contributions, ideas and leadership experience he has brought to the organization and looks forward to continuing.  He was a star football player and graduate of Columbia University in the City of New York, and is proud member of the National Football Foundation and College Football Hall of Fame in South Bend Indiana.

As a middle school teacher for 10 years, I would incorporate technology into my lessons, but more often than not, I would go by the book, both literally and figuratively. I knew that there was a huge opportunity to work in a tech related field, but I was happy as a teacher, and I didn’t have a broad background working with technology. After having taught for many years in the South Bay, I wanted to venture out and do something different, challenge myself and explore what this technology industry was all about. I was fortunate to find out about an opening at RentPayment for an Account Manager. I knew my attention to detail, teaching skills, and dedication to service would make me the perfect Account Manager.

While I didn’t know exactly what the job would entail, after working at RentPayment for four months, I’m extremely that happy I made the switch. I enjoy the client care aspect of RentPayment as well as training clients on how to use our services. We are rapidly progressing as a company and are introducing more ways to pay rent, such as with the iPhone app- RentPayment Mobile. The switch from teaching children to teaching adults has been fantastic! It amazes me on a daily basis how we are able to use technology to improve industries and the way people interact with money. The thought of paying rent online, by phone, text message, and more is incredibly convenient and easy for renters. But the real benefit is how much it improves the operations of a property management team. I enjoy being able to show Accountants, Property Managers, and Leasing Agents all the great ways RentPayment can benefit them. From in person credit card acceptance for Leasing Agents, to transaction summary reports with excel exports for Accountants we have a suit of resources to help their day to day operations. The switch from teaching education to teaching technology isn’t very different.   I’ve come to learn, that they are both all about educating the future.

If I were to grade Yapstone as a company both to work for and what it is capable of doing for residents and property managers, I’d give them an A+!

Written by:
Tony Maskell, Client Account Manager for RentPayment

#10. Laundry
I can never find any quarters, nor do I ever have the single dollar bills needed to make change! Thus, I end up driving to the bank, or the local convenience store and dropping my last $10 bill for a roll of quarters… sigh…

#9. Bus Fares
I always find myself holding up the line while digging through my pockets for the proper coins and bills. Usually end up getting yelled at by the after-work rush hour crowd.

#8. Charitable Donations
Is it rude to ask the Salvation Army Donation Rep outside my local store, who rings the bell during the holidays, if he’ll take a Visa? You should see the looks I get from the Girl Scouts when they try to sell me cookies!

#7. Lost Bets
I lost a bet to a friend the other day on the outcome of a football game, but didn’t have the cash to pay up! Yeah, I got out of having to pay… but now I look like a jerk!

#6. Groceries
In my perfect world… I’d order everything online, have someone pack everything up for me and then deliver it to my front door!

#5. Prescriptions
My local Rite-Aid has the longest lines!! Less time spent running errands… wouldn’t that be the life?

#4. Parking
Drove around downtown for 35 minutes waiting for a free parking spot to open up because I couldn’t feed the meter! I should really listen to be boyfriend who always harps on me for not keeping change in my car….

#3. Bar Tab
How embarrassing to have to go pick up my credit card the next day when I’ve forgotten to close my tab… Can’t I just pay from my laptop in bed?!?

#2. Lottery Tickets
Of course I want that chance to win that mega-millions jackpot!!! But how often does anyone walk inside to the store at a gas station, I’d love to be able to play and pay for the lotto online. Maybe that would increase my chances to win?!

#1. RENT!
Oh wait, I can! Thanks RentPayment!

RentPayment.com… helping you ditch the last check you write!

“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.