Missoula, MT · Member since 2016 · 163 posts · 55 votes
I know I could have tenants pay for rent on my own website but is it even worth it?
The negatives im thinking about are a credit card processing fee, payments to keep the website up and running, and just another headache to deal with.
I could charge a processing fee to have tenants pay online but with the other two issues mentioned above im not sure.
I guess there's no problem to wait for checks to arrive in the mail or have them handed to me personally. Just didn't know if letting tenants pay online was a convenient way for them to pay for rent. Is it worth it?
Collectively from just the people that answered on this discussion you all know too much lol
Kiran, ill be sure to check out all those payment options and get my listings into the 21st century so thank you.
Dustin, im all for more money in my pocket and like I mentioned earlier it doesn't make much sense to have a website unless im operating 50+ units. Thanks
Los Angeles, CA · Member since 2016 · 18 posts · 3 votes
10y
Anthony Wienke - You're welcome, happy to help.
Not to put myself out of business lol but a website simply to take payments may not be necessary. However, you might consider it if: You need to establish or elevate your brand, showcase your services and properties. I've set up several for investors, property managers, realtors etc. that have multiple LOB's, that allow tenants to pay their rent (doesn't have to be self hosted on your site), allow prospective tenants to fill out rental apps securely etc.
^ +1 on the points Kiran made, which is what I was trying to imply in the business objective topic. I'm not saying to start a website to solely collect rent payments. At that point, yes, a huge waste of money. But when it comes to showcasing properties, brand recognition, etc., then yes, a website can be a big help. And it doesn't have to be self-hosted, that only offers the flexibility side of it all.
But if it's about the money at this point, don't go with the website and just work on building the business first.
As a side note, it's awkward I came on this post and see you're from Missoula, Montana. The owner of the home I'm currently renting is from there as well. Non-important information but thought it was interesting. ;)
Missoula, MT · Member since 2016 · 163 posts · 55 votes
10y
@Kiran Rouzie@Dustin Verley As you both said, the only reason for me to have a website would be to expand my offerings and professional appearance. A few thousands dollars a year to have my own website up and running when the turnover is only for 23 units doesn't add up. I just need to get paid in the most efficient way possible while making it easier for the tenant. Ill be scribbling down some notes from this discussion hahaha
On top on your side note Dustin, the housing market is on fire in Missoula (Western Montana). Property sells here for thousands more than what its worth. I guess you could call that a sellers market if im not mistaken. The owner of your home probably saw prices in Dover and fell in love with it lol jk.
The property im looking at purchasing, the owner lives in another state. He has no idea the pot of gold he's sitting on right now that im going to nab from him hahaha
I love erentpayments. If you are dealing with younger more computer savvy tenants they want to use electronic means for paying the rent. Few may not even use checks to pay for services and goods.
I've been looking for a more robust way to do the initial rent application and background check with one service rather than using 2 different service providers.
Thank you Chuck as I am going to message you as we are actually working on the background check feature right now and I want to make sure it will meet your expectations. Thanks!