Senior Living Properties Celebrate the Unified Dashboard for Managing Every Kind of Payment

In the course of a recent RealPage webcast, participants from senior living properties were asked whether they can currently manage all types of payments from a single, centralized dashboard on their computers. Only 5% said “yes.” Meaning 95% of them are still jumping back and forth between different software programs, folders, and websites to process and manage payment types ranging from online payments, to checks, to money orders, bank ACH and lockbox payments. It’s confusing, prone to errors, and a huge waste of site staff time that could be used much more effectively. But if RealPage’s Senior Living group has anything to do about it, this unfortunate situation will change for many properties, and soon, with the advent of ClickPay for Senior Living. The problem: Different kinds of payments, different locations Today, there are different ways of handling all the various types of payments, and it’s extremely taxing on senior living property staff: Online payments.  Residents (or their proxies) pay online by using a credit card or entering bank account information. The accounts receivable team laboriously posts the payments to the property management system on a payment-by-payment basis. They don’t have to if payments and the ledger are integrated, but even in this case the deposit won’t hit the property’s account for days. In-office check scanning. Many properties employ a desktop scanner to deposit paper checks into their bank accounts. The AR team has to open, sort, and scan them. If there are multiple banks, there’s usually a different scanner and computer for each bank. It’s inefficient to say the least. And once the payments are scanned, they still must be credited, and will most likely settle on a date different from when the credits were made. Lockboxes.  A lockbox is a physical location at a post office where a resident mails checks to the property’s bank instead of...