![]() ![]() Making data entry errors, such as mistyping or transposing numbers.Fortunately, online rent payment services prevent the most common accounting errors property managers face with paper-based record-keeping systems, including: Manual accounting errors can quickly and easily become costly mistakes for your business. So just the foot traffic - not having to be in the office for people to make their rent payments and then having to enter them in and run to the bank to make deposits - has saved us about 10 hours a week.” – Cora Langel-Person, Office Manager and Property Manager at Centana Property Manageme nt 2.) Eliminate time-consuming accounting processes and reduce errors ”We have 91% of our renters activated on the online portal, and almost all of them pay that way every single month. Since implementing an online payment system, they have been able to streamline their workflows and drive efficiency. The team at Centana Property Management has been able to do just that by switching to online rent payments. ![]() With online rent payments, however, your residents can pay their rent digitally, which can help reduce operating expenses that would otherwise be spent on manual entry and follow-ups. Once the checks clear, employees spend even more time manually posting receipts and updating resident records. ![]() Manually collecting rent, preparing deposit slips, and making trips to the bank to deposit funds can take up valuable team time. Keep reading to uncover 10 ways online rent payments can help streamline processes, eliminate inefficiencies, and benefit everyone. In addition to being an expected and standard part of doing business today, online rent payments are essential for improving your resident and employee experience. If you’re still collecting paper rent checks and spending valuable time on manual data entry, then now is the time to implement a paperless system. ![]()
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