I am all for methods that could not only streamline any process, but also be a wiser use of limited resources; HOWEVER:

Depending on the demographic you serve, it may only work on a limited basis; if at all.

If your service provider passes along a 'convenience fee' of any source to your residents that use the service, even if you make use of the service mandatory, you would lose residents (I know I would leave if I had to pay an extra fee to pay my rent). This is counterproductive to your goals.

If you make use of the service mandatory; make sure the contract with your provider is set up to pass along service fees to YOU and not your resident.

If you do use electronic payments, even on a mandatory level; give your residents SOME control over it. You could use the same methodology that 24 Hour Fitness uses and require ACH transfers; you could ask that your residents set you up as an automatic payee via their bank's online system; in this case the bank is likely to physically cut you a check and drop it in the mail so that it arrives at your desk before the late cutoff date at no charge to the resident (if you happen to use the same bank as your resident; there may be an electronic transfer method available, check with your banker).


If residents are paying with credit cards, I can see passing along charges to them; but not if they are paying via ACH, online banking, or with debit cards (also known as money they actually HAVE as opposed to money they don't); unless you make electronic payment mandatory. I would treat this opportunity like banks that offer options for customers to have free checking accounts by either maintaining a minimum balance (which would not apply in this case), or by having a recurring direct deposit. Offer it like this:

" While this property accepts all forms of payment for rent, except cash for security reasons; we do prefer all payments to be made electronically. However, our service provider charges a fee for doing so. For your convenience, we are willing to waive the fee if your electronic payments are made via:

-ACH payment.
-Online electronic transfer from your bank account to ours.
-Recurring payment setup with your bank's online system where they cut a check and drop it in the mail to arrive no later than the 3rd of the month. Please make sure your name and unit number appear on the check.
-Recurring electronic payment set up through a payee service if you are receiving government income (VA, Social Security, or other government pension).
-Recurring payment using your bank's debit card.

You are welcome to discuss these options in greater detail with our staff at any time."

In the case of senior housing and residents receiving income from either social security or VA, there are 'payee services' available in many areas that actually manage finances for clients and pay bills on their behalf. These services actually cut checks and put them in the mail to you.

Personally, I am with Stephani and like seeing my residents around rent time; it gives me a chance to ask them if there are any maintenance issues that need to be addressed; especially if that is the only time I may see them.