Beef-up your bank account electronically by collecting rent online:

There were days when a landlord had to wait for endless numbers of hours for the tenant to come and pay his rent. Finding time to wait would be very difficult as the landlord might have other important jobs to attend to. In this day and age where time is of great importance, it is really difficult for the owner or the tenant to squeeze some time to transact. Carrying cash from one place to another is really risky and depositing cheques would take its own time to get realized in the landlord’s account. Automating the process of rent collection saves a lot of time for the owner as well as the payer.

There are online payment portals such as "PayYourRent" which helps very methodically to collect rent without any difficulty. Additionally, the portal continues to extend its services to many areas related to locating the right tenant. When the details about the property are submitted to the site www.payyourrent.com, the management of this portal tries to source out good customers to whom you can rent your property. The lease documents are properly collated and looked into by "PayYourRent" to avoid any ambiguity in future. And finally, it collects the rent on time from the tenants and deposits in your account. Though the process is very meticulous, the charges are reasonable. Enormous amount of burden is lifted off the landlord’s shoulder in this manner.

The account details provided by the lessor to the site are kept very confidential and cannot be accessed by anybody at any point of time. Once the payment is made by the lessee, the lessor gets a message saying his account will be credited with the amount within a specific timeframe. There are ways to alter details if necessary and apart from that, provisions are there to send reminders to the tenants of the nearing deadline for rent payment. This can also be set to trigger automatically when the time approaches. More importantly, when there is a delay in payment, the lessor can automate the process of collecting the late payment fee along with the rent. "PayYourRent" provides a facility to generate reports regarding payments made by tenants between any two specified periods of time.

Credit score is a rating given by certain authorities appointed by the government to enhance credibility of the payers. The rating increases for a person if his payment history remains good and stable throughout the year. If the credit score is impressive, it helps the tenant apply for loans or credit cards which are likely to get approved without any doubt. The same applies even for students who have paid their tuition fee and hostel fee uninterruptedly.

Source: collect rent online.

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