How Online Rent Payments Benefit Property Managers & Residents

Appfolio Websites • November 24, 2020

Online rent payments aren’t just convenient, they’re also mutually beneficial for your residents and your business. If you’re still collecting paper rent checks and manually entering bank data, then now is the time to implement a paperless system. Here are ten ways that online rent payments benefit both you and your residents:

#1 Saves Time & Money

As a property manager, you might be wasting lots of time and money every month manually collecting rent, preparing deposit slips, and making trips to the bank to deposit funds. Once a check clears, you spend more time manually posting receipts, and updating resident records.

You can save a lot of time and reduce operating expenses by letting your residents pay their rent online. For instance, with a cloud-based payment solution, residents can instantly pay their rent via eCheck, debit card, credit card, or cash or money order at 7-11 or CVS, where the funds are directly handled entirely online.

Since implementing an online payment system, Bryan Hanes and his team at Hanes Properties have been able to streamline their workflows and drive efficiency, “Our property managers have quickly and easily grasped AppFolio and love all of the online rental payment options. This saves management a ton of paperwork and cuts rent week workload by at least 50% compared to the days when online rental payments were not available.”

#2 Eliminates Error-Prone, Manual Auditing & Editing

Accounting errors can be costly. Online rent payment services prevent the most common accounting errors property managers face daily with paper-based record keeping systems. Digital payments eliminate double posting, as well as failing to post a payment. Online payment processing also prevents data entry errors such as transposing numbers (entering 43 instead of 34) and improperly coding transactions, which can create inaccuracies in the balance sheet and other financial statements when category totals are transferred. A paperless system minimizes common errors—saving your organization time, money, and frustration, while boosting overall productivity and efficiency.

#3 Protects Resident Privacy & Identity

A well-designed property management system has security baked into every step of the customer engagement process, including online payment portals. With a payment portal that protects both in-transit and data at rest, residents can pay rent online without worrying about identity theft, and property managers can have confidence that their data is shielded from unauthorized views.

#4 Allows You to Make More Informed Decisions

Accurate records are essential for operating a successful business. Digital transactions are 100% accurate and provide an efficient path for sharing rent payment histories with credit bureaus and need-to-know external partners. Back office data also allows your teams to identify trends, such as late payment frequency, non-rent assessments and payment type preferences that may change over time.

Having real-time analytics built within your technology platform enables you and your team to make better business decisions. It also encourages owners to accept monthly disbursements and pay assessments online, so your team can have a clearer, more complete snapshot of your organization’s financial health.

#5 Streamlines Communication & Transparency

Paying rent online via a fully integrated system allows residents to access payment history, review fees, and assessments, and modify payment choices 24/7. From the business side, integration enables you to streamline communication with automated communication features, such as text and email alerts when rent is due, and one-time add-ons payable through the portal, regardless of the portfolio mix you manage.

#6 Promotes Accountability

When rent payments are made by mail, drop box, or in-person, it’s harder to keep track of who has paid and when payments were submitted. As a result, it’s more difficult to hold residents accountable and protect your business. With an online rental payment system, you have a digital paper trail where you can instantly check to verify if and when a payment was made, simplifying the dispute resolution process.

#7 Gives Residents More Flexibility

The more ways to pay you provide, the more likely residents will adopt online payments faster, and the better chance you have of getting your rent payments on-time. An online payment system that offers multiple options, such as eCheck (ACH), credit cards, debit cards, electronic cash/money orders, and bank drafts can provide residents with the flexibility and support they need.

Along with offering multiple ways to pay, you can also offer flexible payment plans. For instance, with AppFolio you can set up a payment plan to convert existing charges into a series of payments, providing relief for your residents, while maintaining visibility into the amounts and timing of repayments under the agreement.

#8 Boosts Efficiency with Automated Payments

Your residents are used to carrying out most of their monthly tasks—such as paying their credit card bills—quickly and efficiently online, and their rent is no exception. In addition, many are probably already accustomed to using automatic bill pay systems that enable them to pay all of their bills without having to manually enter the same information each month.

Consider implementing a digital solution that offers automatic rent payments. By enrolling, your residents will not only save time, but your team members can have the reassurance that rents will be paid on-time and in full. Don’t forget to educate your residents about the advantages of paying their rent online and setting up recurring payments. In addition, you should encourage prospects to submit the initial application fee online to promote early online payment adoption.

#9 Improves Resident Satisfaction

According to a recent renter preferences survey by AppFolio, 86% of respondents said it was important for them to be able to pay rent using a mobile device, and 26.75% said they would not rent, or would move out if their property manager did not offer mobile or online tools. That being said, by offering mobile tools, such as online rent payments you can increase resident satisfaction, boost resident retention, and attract more prospects.

#10 Increases Online Portal Adoption

With online rent payments you can also increase the likelihood your residents will use other features within your online portal—such as online maintenance requests and lease renewals—further streamlining processes and increasing satisfaction. The more features your residents adopt, the more time your team will save, and the greater the return you’ll see on your technology investment.

For most renters, the ability to pay rent online is not only preferred, but expected. By providing your residents with modern ways to pay, you’ll be able to enhance your customer experience, boost efficiency, eliminate errors, save money, and give your team more time to focus on growing your business.

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2026 Housing Market Outlook

By KCM • October 26, 2025

2026 Housing Market Outlook After a couple of years where the housing market felt stuck in neutral, 2026 may be the year things shift back into gear. Expert forecasts show more people are expected to move – and that could open the door for you to do the same. More Homes Will Sell With all of the affordability challenges at play over the past few years, many would-be movers pressed pause. But that pause button isn’t going to last forever. There are always people who need to move. And experts think more of them will start to act in 2026 (see graph below): What’s behind the change? Two key factors: mortgage rates and home prices. Let’s dive into the latest expert forecasts for both, so you can see why more people are expected to move next year. Mortgage Rates Could Continue To Ease The #1 thing just about every buyer has been looking for is lower mortgage rates . And after peaking near 7% earlier this year, rates have started to ease. The latest forecasts show that could continue throughout 2026, but it won’t be a straight line down (see graph below): There’s a saying: when rates go up, they take the escalator. But when they come down, they take the stairs. And that’s an important thing to remember. It’ll be a slow and bumpy process. Expect modest improvement in mortgage rates over the next year but be ready for some volatility. There will be volatility along the way as new economic data comes out. Just don't let it distract you from the bigger picture: the overall trend will be a slight decline. Forecasts say we could hit the low 6s, or maybe even the high 5s. And remember, there doesn't have to be a big drop for you to feel a change. Even a smaller dip helps your bottom line. If you compare where rates are now to when they were at 7% earlier this year, you’re already saving hundreds on your future mortgage payment. And that’s a really good thing. It’s enough to make a real difference in affordability for some buyers. Home Price Growth Will Be Moderate What about prices? On a national scale, forecasts say they’re still going to rise, just not by a lot. With rates down from their peak earlier this year, more buyers will re-enter the market. And that increased demand will keep some upward pressure on prices nationally – and prevent prices from tumbling down. So, even though some markets are already seeing slight price declines, you can rest easy that a big crash just isn’t in the cards. Thanks to how much prices rose over the last 5 years, even the markets seeing declines right now are still up compared to just a few years ago. Of course, price trends will depend on where you are and what’s happening in your local market. Inventory is a big driver in why some places are going to see varying levels of appreciation going forward. But experts agree we’ll see prices grow at the national level (see graph below): This is yet another good sign for buyers and overall affordability. While prices will still go up nationally, it’ll be at a much more sustainable pace. And that predictability makes it easier to plan your budget. It also gives you peace of mind that prices won’t suddenly skyrocket overnight. Bottom Line After a quieter couple of years, 2026 is expected to bring more movement – and more opportunity. With sales projected to rise, mortgage rates trending lower, and price growth slowing down, the stage is set for a healthier, more active market. So, the big question: will you be one of the movers making 2026 your year? Let’s connect if you want to get ready.

Why Home Prices Aren’t Actually Flat

By KCM • October 25, 2025

Why Home Prices Aren’t Actually Flat If you’ve been following real estate news lately, you’ve probably seen headlines saying home prices are flat. And at first glance, that sounds simple enough. But here’s the thing. The reality isn’t quite that straightforward. In most places, prices aren’t flat at all. What the Data Really Shows While we’ve definitely seen prices moderate from the rapid and unsustainable climb in 2020-2022, how much they've changed is going to be different everywhere. If you look at data from ResiClub and Zillow for the 50 largest metros, this becomes very clear. The real story is split right down the middle. Half of the metros are still seeing prices inch higher. The other half? Prices are coming down slightly (see graph below). The big takeaway here is “flat” doesn’t mean prices are holding steady everywhere. What the numbers actually show is how much price trends are going to vary depending on where you are. One factor that’s driving the divide? Inventory. The Joint Center for Housing Studies (JCHS) of Harvard University explains : “ . . . price trends are beginning to diverge in markets across the country. Prices are declining in a growing number of markets where inventories have soared while they continue to climb in markets where for-sale inventories remain tight .” When you average those very different trends together, you get a number that looks like it’s flat. But it doesn’t give you the real story and it’s not what most markets are feeling today. You deserve more than that. And just in case you're really focusing on the declines, remember those are primarily places where prices rose too much, too fast just a few years ago. Prices went up roughly 50% nationally over the past 5 years, and even more than that in some of the markets that are experiencing a bigger correction today. So, a modest drop in some local pockets still puts most of those homeowners ahead when it comes to the overall value of their home. And based on the fundamentals of today’s housing market, experts are not projecting a national decline going forward. So, what's actually important for you to know? If You’re Buying... You need to know what's happening in your area because that’s going to influence everything from how quickly you need to make an offer to how much negotiating power you’ll have once you do. In a market where prices are still inching up , waiting around could mean paying more down the line. In a market where they’re easing , you may be able to ask for things like repairs or closing cost help to sweeten the deal. The bottom line? Knowing your local trend puts you in the driver’s seat. If You’re Selling... You’ll want to be aware of local trends, so you’ll know how to price your house and how much you can expect to negotiate. In a market where prices are still rising , you may not need to make many compromises to get your home sold. But if you’re in a market where prices are coming down , setting the right price from the start and being willing to negotiate becomes much more important. The big action item for homeowners? Sellers need to have an agent’s local perspective if they want to avoid making the wrong call on pricing – and homes that are priced right are definitely selling. The Real Story Is Local The national averages can point to broad trends, and that's helpful context. But sometimes you’re going to need a local point of view because what’s happening in your zip code could look different. As Anthony Smith, Senior Economist at Realtor.com, article puts it: “While national prices continued to climb, local market conditions have become increasingly fragmented… This regional divide is expected to continue influencing price dynamics and sales activity as the fall season gets underway. ” That’s why the smartest move, whether you’re buying or selling, is to lean on a local agent who’s an expert on your market. They’ll have the data and the experience to tell you whether prices in your area are holding steady, moving up, or softening a bit – and how that could impact your move. Bottom Line Headlines calling home prices flat may be grabbing attention, but they’re not giving you the full picture. Has anyone taken the time to walk you through what we’re seeing right here, right now? If you want the real story about what prices are doing in our market, let’s connect.

What Buyers Say They Need Most (And How the Market’s Responding)

By KCM • October 24, 2025

What Buyers Say They Need Most (And How the Market’s Responding) A recent survey from Bank of America asked would-be homebuyers what would help them feel better about making a move, and it’s no surprise the answers have a clear theme. They want affordability to improve, specifically prices and rates (see below): Here’s the good news. While the broader economy may still feel uncertain, there are signs the housing market is showing some changes in both of those areas. Let’s break it down so you know what you’re working with. Prices Are Moderating Over the past few years, home prices climbed fast, sometimes so fast it left many buyers feeling shut out. But today, that pace has slowed down. For comparison, from 2020 to 2021, prices rose by 20% in a 12-month period. Now? Nationally, experts are projecting single-digit increases this year – a much more normal pace. That's a sharp contrast to the rapid growth we saw just a few short years ago. Just remember, price trends are going to vary by area. In some markets, prices will continue to rise while others will experience slight declines . Prices aren’t crashing, but they are moderating. For buyers, the slowdown makes buying a home a bit less intimidating. It’s easier to plan your budget when home values are moving at a much slower pace. Mortgage Rates Are Easing At the same time, rates have come down from their recent highs. And that’s taken some pressure off would-be homebuyers. As Lisa Sturtevant, Chief Economist at Bright MLS, says: “Slower price growth coupled with a slight drop in mortgage rates will improve affordability and create a window for some buyers to get into the market. ” Even a small drop in mortgage rates can mean a big difference in what you pay each month in your future mortgage payment. Just remember, while rates have come down a bit lately, they’re going to experience some volatility. So don’t get too caught up in the ups and downs. The overall trend in the year ahead is that rates are expected to stay in the low to mid-6s – which is a lot better than where they were just a few short months ago. They may even drop further, depending on where the economy goes from here. Why This Matters Confidence in the economy may be low, but the housing market is showing signs of adjustment. Prices are moderating, and rates have come down from their highs. For you, that may not solve affordability challenges altogether, but it does mean conditions look a little different than they did earlier this year. And those shifts could help you re-engage as we move into next year. Bottom Line Both of the top concerns for buyers are seeing some movement. Prices are moderating. Rates are easing. And both trends could stick around going into 2026. If you’re considering a move, let’s connect walk you through what’s happening in our area – and what it means for your plans.