If you’re just getting started with owning a Portland Oregon rental property, you may also be trying to decide between how you want your tenants to pay you.
Some landlords are okay with checks while others want to stick with online payments. The big question is which payment option should you stick with?
In this article, we will break down checks vs. online payments and provide you with insight on which option is right for you.
Payments By Check
Although there still are a few landlords that allow checks, the reality is that in the 21st Century rent payments by check is one of the worst options that you could offer your PDX area tenants.
Why? The answer is simple. If you allow your tenant to write a check, it’s too easy for them to forget to mail their rent payment to you because we live in a world of distractions.
Some people may get to the beginning of the month and think that they already wrote the check to pay their rent while others will plan on paying their rent but forget to do it.
Why Online Payments Are Better
Instead of allowing your tenants to write a check for their Portland Oregon Rent, you should require your tenants to pay their rent online instead.
Online payments are better than physical rent checks for the following reasons:
- Everyone is online in the 21st century and most people can easily make online payments.
- It’s easier to make an online payment than it is to write a physical check.
- There are multiple options for people to pay online that are very easy to set up.
- Online payments are processed faster than checks.
- Paying online also eliminates the chance of fraud that often comes with paper checks.
- On-time payments may increase with online payments.
Contact Rent Portland Homes
At Rent Portland Homes we are a total property management solution for the Portland Oregon area.
Our company makes owning rental properties easy because we take the burden off the shoulders of landlords so that they don’t have to manage their investment properties themselves.
From rent collection, maintenance, customer service and accounting, to property marketing, we have the property management solutions that owners need so that they can enjoy passive income from their rental properties.
To learn more about the benefits of online payments, or the property management services we can offer you, contact us today by clicking here.