What is your favorite rent collection system? 🤔

Question

Hey BP fam!

I am a HUGE fan of Apartments.com’s rent collection system. I dont use their leases or any of those kind of features, but I do like the way the systems are set up 🙂 What are your thoughts?

Happy Sunday guys! 😁

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Drew Sygit · Answer

@Kyle Curtin

The most effective rent collection method is whatever works for the tenant - except picking up rent!

We offer 4 different payment methods to our tenants:

• Online ACH via      our PM software (no charge)
• Deposit @      our bank ($3 charge)
• Credit Card      ($5 + cc fees)
• Mail ($10      charge)

Notice we charge a fee for the less desirable options to encourage the behavior we want:)

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Colin Kelly-Rand · Answer

I use appfolio's rent collection system - a majority of my residents ACH rent.

For the few old school payers who use money orders or checks, they mail to my earthclassmail.com po box. So I stay paperfree.

Kevin Coco-Senyszyn · Answer

Appfolio is best if you're managing more than a few properties. I think their minimum now is 10 properties.

Sean Kelly-Rand · Answer

@Colin Kelly-Rand runs our property management on appfolio and works very well.

Nathan Grabau · Answer

My property managers use buildium and I have been very happy with it. It seems like a great tool for scaling, because it allows for things like work orders to be submitted and basic book keeping to be done through the program.

What is your favorite rent collection system? 🤔

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