We live in an increasingly digital world. I myself have found many instances where I would rather search online and purchase an item than deal with the hassle of driving to a few different stores trying to find what I want. Especially if you can find the holy grail of online shopping; free shipping! Park City property management is no different. Many residents living in Park City long term rentals are busy people who are very interested in convenient methods of online payment. There are now many options available to landlords that will help increase the frequency of online payments for property management in Salt Lake City.
Landlord Benefits
Imagine never having to deposit a check at the bank again! Imagine never having to track down your tenant after a bounced check! And then imagine that the rent payment is already automatically posted every month and you don't have to do anything. Brilliant! 
For those reasons alone it makes sense for a landlord in Park City property management to get with the times and offer multiple online payment options. There are many avenues to choose from when it comes to online payment. Organizations like the Utah Apartment Association offer online payment applications to members. With our company we have established an online payment portal that is linked to our website. Residents can easily navigate to a login page, and with basic information set up payment via credit or debit card as well as with a routing number and checking account. No more running to the bank to cash checks or worrying about checks bouncing!
Tenant Benefits
No longer will you have to worry about writing a check and putting it in the mail early enough to reach your landlord on time. Or if you've been paying with money order you can cut out the annoying trips to the grocery store to put down some cash and get a money order. I've seen more than a few instances of checks either never arriving in the mail or being sent to the wrong address. Our mail delivery system is far from fool proof and if you can avoid possible problems you should do so. With handy online payment methods you may never leave your 
house again! Online payment methods are very simple to set up, usually requiring a name and email address only. They are secure sites where your bank account information is not accessible by anyone but yourself. You can set up automatic payments so you don't have to worry if you are out of town or just a busy person. For me personally this is a big one. I hated having to remember each month to make payments to things like my cell phone or car insurance. And when you miss a payment there are fees, dings on your credit, or even loss of service. Why bother with any of that when you can set up automatic payments and get on with enjoying the rest of your life! It just makes sense for tenants in Park City long term rentals.
Summary
If you are either a landlord or a tenant in property management in Salt Lake City I would urger you to take a look at online payment. Time is money and if you can cut down on the time you spend doing unnecessary tasks you can focus on the things that will better your life, financially or otherwise. If you would like more information on multiple payment options, or further information about Park City property management in general click the link below for a free consultation. You will receive valuable information specific to your property that will help you make an informed decision. You will also receive a free, no-obligation quote on our property management services. At CC Realty we specialize in making investment property ownership a trouble free experience. Please contact us today for your free consultation.
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An on time rent payment, or the very elusive early rent payment, is the unsung joy of a Park City property management company. If there is one concept I would instill into every tenant I meet it would be to always pay your rent on time. This saves a lot of effort and headaches on the part of any landlord. One late payment can kick off a series of possibly unnecesary events including posting of notices, late fees, and even eviction notices. These are what I would refer to as the "stick" method for encouraging on time payments. But before we get to the stick let's take a look at some proactive "carrot" methods for encouraging on time payment.
Knowledge
First things first, does your lease clearly state when rent is due and when it is late? Let's hope for your sake it does. Now when your new tenants signed the lease did you explain or even mention this requirement? Giving your tenants up front knowledge about when rent is due and when it is late is the first step in combatting the dreaded late payment. Most people, including tenants, will make the right choice the majority of the time if they are aware of what is expected of them. For example our lease states that rent is due on the 1st and late on the 5th. I feel like I can't even mention the amount of rent a tenant must pay without following up with "due on the 1st, late on the 5th". I have found that properly educating tenants about expectations at the beginning of a lease is the best way to avoid problems in Park City property management.
Options
The more options a person has to make a rent payment the easier making that rent payment becomes. For some tenants the act of writing out a check, getting a letter and a stamp and sending it off will only create a greater likelihood of late payment. I know at my house we rarely have both a stamp and an envelope on hand at the same time. Basically all of our bills are paid online automatically every month, we know it is coming out and don't have to worry every month. This convenience should be extended to your tenants through any means possible. Things like PayPal, online banking transactions or even banks that automatically mail checks every month are potential solutions for payment options. Be flexible and you will find that the increase in options will result in a decrease in late payments. We continually push online payments with all our tenants. It cuts down on errors, lost payments, trips to the bank, etc. It is a great solution for Park City property management.
Maintenance
Yes, how you maintain your property can have influence how on time your tenant is with their payments. Think about it, if a tenant calls you about a maintenance item it is obviously something that they want to have fixed. If you are habitually slow in your repairs or if you are always coming up with excuses as to why you can't or won't fix something then don't be surprised if your tenants are less than happy to be sending you their money each month. Rent is a big expense for a tenant, often times it is the single largest expense for an individual or household. And if you are having to send all this money to someone who isn't taking care of their end of the agreement then I guarantee you won't be in a hurry to take care of your part. If you are an on the ball property manager who does an awesome job maintaining your property then don't be surprised if your tenants do an awesome job of paying on time.
If you would like more information on encouraging tenants to pay on time, or Park City property management in general, click the link below to sign up for our free consultation. Our consultation will provide you with valuable information specific to your rental property. You will also receive a free, no-obligation quote on our property management services. At CC Realty we specialize in making investment property ownership a trouble free experience. Please contact us today for your free consultation.
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