Property Management, Tenant Selection, Real Estate News & Tips

Data Shows Automatic Payments Prevent Late Fees and Save Renters Money – White Paper

By on September 12, 2018 in Education, News with 0 Comments

rentec direct late fee white paper

The Effect of Automatic Rent Payments on Tenant Late Fees

Download the white paper here.

An analysis of rent payment data reveals how renters can save money by paying rent online and using automatic payment options to avoid late fees.

SUMMARY

Monthly rent accounts for a large portion of a renter’s income. With rental markets tightening in large cities and rural areas, renters need to be diligent in finding a good rental that meets their needs and fits within their budget. While tenants do not have definitive power to influence the market rate for rentals in their area, they do have the power to lower their monthly payments in other ways–namely through ensuring that no additional fees are assessed at the time that rent becomes due.  According to the data, automatic payments may be the answer to lower out-of-pocket costs for renters.

Rentec Direct recently analyzed data based on one year of rental payment behaviors, representing data from 13,000 property managers and more than 100,000 renters. The outcomes of the study showed significant differences in timely rent payments based on the implementation of automatic payment technology (ACH).

Effect of Automatic Rent Payments (ACH) on Rental Late Fees – Click to View the Study

KEY TAKEAWAYS

  • Paying rent online results in fewer late rent charges
  • Renters who do not pay rent online are more likely to pay late rent fees
  • Renters who set up monthly, automatic rent payments are less likely to pay late rent fees
  • Renters who pay rent online are less likely to pay rent late

Effect of Automatic Rent Payments (ACH) on Rental Late Fees – Click to Download

Late Fee White Paper Rentec Direct

Effect of Automatic Payments (ACH) on Rental Late Fees – Click to View


Related Reading For You:

Tags: ,

About the Author

About the Author: Rentec employees share a passion for delivering the world's finest property management application to a diverse network of property managers. .

Subscribe

If you enjoyed this article, subscribe now to receive more just like it.

Post a Comment

Top