05 / 03 / 10
As most Property Management Companies know, the process of collecting and managing tenant payments can be a lengthy and costly process. Dealing with tenants, their banks, returned or NSF checks, along with keeping record of everything in between often requires a full-time staff and a dedicated location. Is there a way to simplify and streamline the process in a manner that’s favorable to both the tenant and the property management company? Of course there is, it’s called the MasterCard Property Management System and it?s available from Aliant Payment Systems, Inc.
What is it?
The MasterCard Property Management System works by offering a special program to property management companies which allows tenants to make rent payments via their MasterCard.? Depending on the individual system, payments could be made online, by phone, or by recurring payment each month.
What are the benefits?
Tenants will benefit from the system because electronic payments are favorable to consumers, especially for fixed, recurring amounts on a monthly or quarterly basis. It offers a new payment option that enhances ease of payment. The tenant also has the chance to earn rewards points and other benefits that may be offered to cardholders. No extra fees are charged to process the payment.
On behalf of the property management company, the typical benefits are the simplification of the payment process and an increase in efficiency for the company overall. Considering that some tenants travel frequently, others make late payments for a number of reasons, checks take days to clear and even longer if there is a banking issue; you can clearly already see the advantages that are offered by accepting card payments. Instead of receiving checks throughout the month in a seemingly never ending cycle of collections, deposits and bookkeeping; you have the ability to entice your tenants into a recurring payment option which enhances the opportunity to collect a larger amount of rent payments all at once ? not to mention in a quicker and more secure fashion than ever before.
The time and resources that can be saved by implementing card payments easily covers the cost of the program itself and also allows for employee time to be spent more efficiently on more profitable tasks.
How do I sign up?
Signing up is easy. As long as you?re a company whose primary focus is rentals and/or property management of residential and commercial property, you are eligible. This includes real estate agents and brokers, managers and apartment services personnel.
For more information or to begin accepting MasterCard payments for rent and other tenant related costs, visit Aliant Payment Systems, Inc. at https://www.aliantpayments.com or by calling direct at 888-638-6103?at anytime.
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