Topic: Which online payment system is the most user friendly and reliable?

We are currently using an online payment system connected to our software that is not user friendly and has had several technical glitches that have deterred residents from signing up for recurring payments. We bill for water based on metered (not a flat rate) so we need a flexible system that is based on a "not to exceed" debit amount...not a set flat fee recurring payment. Residents have a hard time getting their payments set up correctly and the systems tends to pull rent on different days of the month. Many frustrations have really left the system unused. Even running a credit card ithe office has become more laborious. Any recommendations?

Hi Amy,

Sorry to hear about the payment frustrations. Have you ever heard of Property Solutions? We do online rent payments and we offer a variable recurring payment option that allows the manager to add other variable expenses (like utilities) to the resident's monthly rent amount. I believe the residents can set a max amount that is allowed to be withdrawn from their account on a recurring monthly basis, and if the added expenses for that month exceed what the resident has given permission for, the resident must be notified. The resident can pick which day to have the rent automatically taken from their account (within your rent due date, of course) and the rent will always be taken out that day and integrated into your accounting software. If you have any other questions you can send me a message.

Multi-Housing News just did their "Technology Choice Awards", if you wanted another resource to find vendors. One of their awards listed the top 4 Resident Payment Systems (voted by the industry).We are listed along with 365 Connect, RentPayment, and Yardi Payment Processing. Hope that helps.

Does anyone have any experience with Paylease? We have it now (I'm newer here and it was in place) but I haven't heard of any other major multifamily players who use it. RentPayment.com is the one I've heard the most about. Since we use Yardi, it seems like Yardi's payment software might be good--but isn't it the most expensive of them all?

Hi Amy,

We use Property Solutions at Sterling for both our online rent payments as well as for several of our community websites and have been pleased, overall with the products.

If you have any specific questions or would like some feedback about Property Solutions, we're happy to provide you with some!

Shoot me an email, if you'd like, at: This email address is being protected from spambots. You need JavaScript enabled to view it. :)

I hope you find the product that meets your operational and financial needs!

Tara

To better help you Amy, I would be curious to know what online payment system you're currently using and which accounting system you have. It will be easier then to figure out what will fit your needs.

Is anyone out there using Property Bridge? Is it compatible with Onesite?

Amy, at RentPayment, we currently provide online payment processing for over 3 million apartment units in the US. We have multiple features that make your and your residence's rent payment experience more enjoyable. For your residents we also offer variable recurring payments, RentByText programs, an iPhone app to pay their rent, etc.

As far as minimizing work on the property's end (this is for you as well, Crystal), we offer integrations with all of the top property management accounting software (including all Yardi products, Onesite, MRI, RealPage, and MANY more). This helps to streamline the rent collection and accounting processes, saving time and money, and eliminating human error. On top of that we recently received a round of VC funding that will ensure continued growth and improvements in technology.

Please let me know if you're like to hear more about the benefits of providing online payments to your residents with RentPayment. Thanks!

-Annalies

Do any other property management staffers like Tara Furiani have any input? With all due respect, I think we can get some better information from users at property management companies rather than salespeople/staffers from online rent payment companies. I am just surprised more onsite people don't chime in.

I agree with Chuck..I would like to hear from some on site, front lines, in the trenches hard core people, such as myself.

Annalies-Do you have any current users that would be willing to act as a reference? No corporate team members, but some people on the front lines (see description above) =)

My property uses Property Solutions. I have used it for over a year now and I am satisfied with it. My property is a digital community. On average about 60% of my monthly payments are made online with about 25% being recurring charges. When a resident signs up for recurring payments they agree to a fluctuating charge. If you charge in your water bill and rent PS will deduct what the total billed is. Our average rents are $999. The only problem with that is they can't use Visa for recurring payments due to a cap of $1000 from Visa. The convenience fees are ridiculously high for credit cards, but the checking account fee is only $1.95. We use AMSI and payments integrate into the software. All I have to do is print the receipts that are emailed to me and match it up with the batch the payment went into. I put something in the newsletter every month and continue to see our online payments grow.

I have used Property Solutions as well. They offer an on site direct deposit check scanning system combined with on-line payment processing. I've noticed there's not a lot of systems out there where paying by credit card is advantageous to the resident. But for standard on-line payments the system is great. The best advise I have is to get your residents paying on-line. We send emails asking them to register as soon as they are approved to move in. The on-line payment processing is fast, frees up you on site staff and reduces errors. DISCLAIMER: MY VIEWS OR OPINIONS MAY NOT BE SHARED BY MY PREVIOUS OR CURRENT EMPLOYERS AND ARE SOLELY MY IP

The cost to the consumer sounds very encouraging. May I ask what is YOUR cost per transaction?

Can we use this sim for online payment .can u help me please