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.

< Older Post Newer Post >

Share this post

Thinking About Renting Your House Instead of Selling? Read This First.

By KCM • September 18, 2025

The body content of your post goes here. To edit this text, click on it and delete this default text and start typing your own or paste your own from a different source.

Mortgage Rates Just Saw Their Biggest Drop in a Year

By KCM • September 17, 2025

Mortgage Rates Just Saw Their Biggest Drop in a Year You’ve been waiting for what feels like forever for mortgage rates to finally budge. And last week, they did – in a big way. On Friday, September 5 th , the average 30-year fixed mortgage rate fell to the lowest level since October 2024. It was the biggest one-day decline in over a year. What Sparked the Drop? According to Mortgage News Daily, this was a reaction to the August jobs report, which came out weaker-than-expected for a second month in a row. That sent signals across the financial markets, and then mortgage rates came down as a result. Basically, we're seeing signs the economy may be slowing down, and as certainty grows in the direction the economy is going, the markets are reacting to what is likely ahead. That historically brings mortgage rates down. Why Buyers Should Pay Attention Now But this isn’t just about one day of headlines or one report. It’s about what the drop means for you. This recent change saves you money when you buy a home. The chart below shows you an example of what a monthly mortgage payment (principal and interest) would be at 7% (where mortgage rates were in May) versus where rates roughly are now: Compared to just 4 months ago, your future monthly payment would be almost $200 less per month. That’s close to $2,400 a year in savings. How Long Will It Last? That really depends on where the economy and inflation go from here. Rates could drop lower, or they could inch up slightly. So, make sure you’re connected with a good agent and trusted lender. They’ll keep a close eye on inflation indicators, job market updates, and reactions to upcoming Fed policy to gauge where mortgage rates may go from here. But for now, focus on this. While no one can say for sure where rates are headed, the fact that rates broke out of their months-long rut is a good thing. If you’ve been feeling stuck, this could make the start of a new chapter. As Diana Olick, Senior Real Estate and Climate Correspondent at CNBC, says: “Rates are finally breaking out of the high 6% range, where they’ve been stuck for months.” And that’s gives you more reason to hope than you've had in quite some time. Bottom Line This is the shift you’ve been waiting for. Mortgage rates just saw their biggest decline in over a year. And if rates stay near this level, it could make a home you couldn’t afford just a few months ago feel possible again. What would today’s rates save you on your future monthly payment? Let’s connect so you can find out.

Should You Still Expect a Bidding War?

By KCM • September 16, 2025

Should You Still Expect a Bidding War? If you’re still worried about having to deal with a bidding war when you buy a home, you may be able to let some of that fear go. While multiple-offer situations haven’t disappeared entirely, they’re not nearly as common as they used to be. In fact, a recent survey shows agents reported only 1 in 5 homes (20%) nationally received multiple offers in June 2025 . That’s down from nearly 1 in 3 (31%) just a year ago – and dramatically lower than in June 2023 (39%) (see graph below): This trend means you should face less competition when you buy. That gives you more time to make decisions and the ability to negotiate price or terms. It Still Depends on Where You’re Buying Of course, national trends don’t tell the full story. Local dynamics matter, a lot. This second graph uses survey data from John Burns Research & Consulting (JBREC) and Keeping Current Matters (KCM) to break things down by region to prove just how true that is. It shows, while the share of homes getting multiple offers has dropped pretty much everywhere, some areas are still seeing more offers than others: In the Northeast, 34% of homes (roughly 1 in 3) are still receiving multiple offers. That’s more than the national average. But in Southeast , that number drops to just 6%. What’s behind the difference? In general, the areas still seeing bidding wars tend to have lower-than-normal inventory . That imbalance between buyers and available homes keeps pressure on prices and competition. But markets with more listings are seeing conditions cool – and that means fewer bidding wars. Sellers Are More Flexible Than You Might Think Here’s another shift to show you just how much things have changed. According to a Redfin report, almost half of sellers are offering concessions, like covering their buyer’s closing costs or dropping their asking price to get their house sold. That’s a clear sign this isn’t the same ultra-competitive market we saw a few years ago. Back then, sellers rarely compromised. And buyers often waived their inspection or appraisal to try to make their offer stand out. Now, things are different. But again, how often this is happening is going to vary based on where you’re looking to buy. And that’s why you need a local agent’s expertise. Bottom Line If concerns about bidding wars have been holding you back, it may be time to take another look. Nationally, competition is down. In some markets, it’s down significantly. And with more sellers offering concessions, buyers today have more power and flexibility than they’ve had in a long time. Want to find out what the market looks like where you’re buying? Let’s connect.