Paperless Payment Solutions Deliver the Goods in Multifamily

Paperless payments for multifamily properties is an idea whose time is now. No doubt you have heard the term many times over. But the rise of COVID-19 has pushed the adoption of paperless payments to new levels. And there’s no stopping here. After all, contactless payments are faster, simpler, safer and more cost effective. That’s more than enough reasons for any owner or operator who is new to the paperless office revolution to check it out. Easier Does It Paperless payment solutions are all about streamlining and simplifying how residents pay, and properties collect rent payments. No matter how residents wish to pay—whether it’s with ACH, a credit or debit card, e-money order or a check—they’re looking for convenience and safety. And convenience for residents means fewer delinquencies and more timely payments for properties. Until recently, paperless payments software could not offer residents the freedom to pay in all the ways they would like. But in late 2020, RealPage® enhanced its rent payments solution with payment acceptance capabilities that allow residents to pay rent any way they prefer. For properties, the solution eliminates in-office handling and processing of paper payments. The solution also enables prospects to submit and pay for leasing applications from the convenience of their own homes—or on the go—so that properties can remotely collect application fees and deposits. RealPage payment solutions fully integrate with every major property management software platform, including Yardi, MRI and RealPage’s own OneSite Leasing and Rents, giving properties real-time updates on all rent payments, deposits, fees and balances from one interface. But OneSite® is not required in order to use the payments solution (see below). Big on Benefits Properties reap an array of benefits from a paperless office. First, they can improve efficiency and decrease processing costs. RealPage payment solut...