As the next step towards our ambitious goal to automate as much of the rental property management process as possible we have launched ACH payments for online rent collection!
This feature makes it easier for tenants to pay rent reducing the likelihood of late rent payments. Additionally, by enabling online rent collection through the software landlords can remove the need for manual income tracking saving themselves hours of admin every month.
Once the landlord has connected their bank account, they simply need to notify their tenants who can log in and with a few quick taps pay their rent directly into their landlord’s bank account. Landlord Studio will then recognize and automatically reconcile the income as well as notifying the user.
“By providing a simplified process for both landlords and tenants to manage routine tasks like rent collection we are removing the friction between them and ultimately improving the renting experience for both parties,” said Charles Chan, CEO, and Founder.
“This is just one step towards our ambitious objectives. The end goal is to automate the entirety of the rental property management process, from income and expense tracking to tenant management. We’re excited to now get started working on improving the feature functionality with additions like instant transfers coming soon,” Charles added.
The addition of online rent collection to the suite of Landlord Studio’s income expense tracking tools will increase the accuracy of our users’ accounting while simultaneously saving them time. This when paired with their other features, like automated rent reminder emails, also helps reduce late and missed rent payments, a principal cause of evictions.
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