How to Automate Your Income Stream By Setting Up Rent Payments OnlineThe Internet can offer multiple advantages to rental real estate investors. Just some of these include the ability to show your vacancies 24/7 (without having to meet every potential tenant in person), as well as allowing applications to be completed and money to be collected for security deposits and monthly rent.

In fact, for many landlords, gone are the days of waiting by the mailbox for tenants’ rent checks to arrive and then waiting again for the check to clear. Today, using online tools can speed up the process significantly, and make your rental income much more reliable.

Some of the common online rent collection apps include:

  • Avail – As a part of the network, Avail provides a number of tools for making rent collection easy, convenient, and reliable. In addition, this service comes with many landlord-specific features such as reminder emails, receipts, and payment tracking. You can learn more about Avail by going to:
  • TurboTenant – TurboTenant also offers a comprehensive rent payment system that includes automatic reminders for tenants, receipts, and the ability for tenants to pay you via credit card. To find out more about TurboTenant, you can visit their website at:
  • PayRent – With PayRent, tenants can submit their rent using any type of connected device, and it will be directly deposited into your bank account. You can also set up a backup payment method to reduce the risk of not getting paid. More details can be found at:

If you would rather not deal with the technical issues of setting up online rent payments, another option for delegating this task (as well as many others) is to add a property manager to your rental real estate business. Doing so can free up much more of your time – particularly if you own multiple properties.

So, if you are a residential real estate investor and you own homes and/or units in the Central Florida area, give us a call and find out more about how we can do the legwork, while you continue to collect passive income.