5 Tips for Motivating Your Residents to Pay Rent Online
Property managers unanimously agree that online rent payments are the way to go. The time saved processing payments can save a manager an average of $5 per online payment. So now that you’ve made it available for residents to pay their rent online, how do you get them to actually do it? Here are a few ideas:
- Post signage throughout common areas on your property: the office, clubhouse, pool, laundry room, gym, etc. Anywhere your residents will see it. You can also send out “Pay your rent online” fliers or emails with monthly rent reminders.
- Offer every person that signs up for recurring online payments a gift card of some kind.
- Every time you see a resident, ask them if they have signed up for online payments. When they come into the office to pay rent, use an iPad to show them how to do it online.
- Have a drawing for a $50 gift card every month where everyone who pays their rent online gets entered to win it.
- Make it a part of your leasing or move-in process. Every time a new resident signs a lease, have them sign up for online payments in ResidentPortal™ right then and there. You can teach them how to do it so there’s no confusion.
Hopefully these tips will make your rent week a little less stressful. Who knows, you might even have time to pick up and new hobby. We suggest Foosball!