New for 2022, Rentec Direct landlords and property managers can now offer renters the ability to make cash payments at participating Walgreens locations through the PayNearMe network. The expansion of PayNearMe’s retail network provides additional convenience for your tenants looking to make rent payments with cash.
Rentec Direct landlords and property managers have currently been able to accept electronic cash payments from tenants via PayNearMe at over 24,000 cash payment locations. The network has expanded to accept cash payments at over 32,000 locations including participating 7-Eleven®, CVS®, Walmart®, Casey’s General Stores®, and ACE Cash Express®, and recently added, Walgreens®.
“At Rentec Direct, our goal is to make life easier for both tenants and landlords through our software,” says Nathan Miller, President of Rentec Direct. “We are excited PayNearMe has expanded their payment network to include Walgreens, giving landlords and property managers additional ways to securely collect rent. I encourage our landlords and property managers to share this news with their tenants right away.”
Want to start accepting electronic cash payments from your renters?
Rentec Direct Adds Walgreens to The List of Retail Locations for Cash Payments
Rentec Direct is pleased to announce that new cash payment locations are now currently available for renters, providing additional value for landlords and property managers. More locations, particularly large retail locations will make electronic cash payments more accessible and convenient for every renter.
You can discover local cash payment locations in the PayNearMe network here: Rentec Direct Electronic Cash Payment Locations
Benefits of Electronic Cash Payments for Renters
Paying rent with cash might be some tenants’ preferred payment option, especially if they don’t have access to a traditional bank account or get paid with cash. Cash payments, however, can be cumbersome to deal with and a traditional cash rent payment comes with its fair share of liability and additional work.
Electronic cash payments eliminate the need for extensive loss prevention policies and the chore of traveling to the bank to deposit large quantities of cash. Electronic cash payments with PayNearMe offers a convenient and secure way for your tenants to confidentiality pay rent with cash, simplifying the rent collection for landlords and property managers.
You can inform your tenants about the convenience and simplicity of paying rent with electronic cash payments by sharing this handout from PayNearMe: PayNearMe Cash Rent Payments
Cash Payment Tracking in Your Rental Software
Rentec Direct integration with PayNearMe allows you to seamlessly receive and track electronic cash rent payments in your property management software. By offering convenient rent payment options, you encourage on-time payments from your tenants and streamline your accounting.
Rentec Direct’s cash payment feature is powered by PayNearMe. Rentec Direct landlords and property managers can apply for a PayNearMe enabled account by following these instructions: Apply for Cash Payments in Rentec Direct
PayNearMe does have some minimum requirements for getting approved:
- You must manage 50 or more units through Rentec Pro or PM; and
- You must take in an average of 10 cash payments per month.
- Tenants pay $3.99 service fee to the payment location when making a payment. For example, if they want to pay $500 in rent, the payment location will charge them $503.99 and $500 will be sent to your bank account.
- PayNearMe is required to complete an extensive background check on applicants in order to legally transfer cash in the United States. As such, they have a one-time $200 setup fee.