January 14, 2012

Real Estate Rental Payment Processing

Article by Chris Day

A1 Enterprise is currently working with a Las Vegas based real estate and property management firm to implement our VISA debit card as a cost control system to process electronic payments with renters, owners, and maintenance suppliers. Under current business conditions, this real estate & property management company processes payments with paper checks and cash between home owners, renters, and suppliers.

The property management company will realize significant overhead cost savings and a reduction in liabilities when issuing our VISA payroll debit card to renters, owners, and maintenance suppliers. For example, the company eliminates counting rent payments in cash and checks, as well as time spent making deposits. Our VISA debit card also eliminates theft liability, including theft of cash or forgery of paper checks. The issue of bounced checks and bounced check fees will also be replaced with a seamless rent payment process that ensures timely and automatic rent payments from renters. Renters who must negotiate multiple rent payments due to insufficient funds will not experience the bounced check fees and overdraft fees as they had experienced with their standard bank accounts and the company will save on bounced check fees their bank charges as well.

Real Estate Rentals,Real Estate Cost Control,Property Management Cost Control, Property Rental Payment Renters will have a rent payments placed on a fixed schedule where rent payments are paid to the property management company on the same day each month with no added steps for the renter. Our VISA debit card saves renters time spent cashing paychecks to pay rent, ordering checks, writing and sending paper checks, or commuting to the property management company’s administrative office and making rent payments in person. Such additional steps can often lead to late rent payments, therefore removing the added administrative overhead for paying and depositing rent payments benefits all parties involved in property management: Home owners, renters, and property managers. Real Estate Rentals,Real Estate Cost Control,Property Management Cost Control,Property Rental Payment

The company will also eliminate time spent printing and distributing check payments to maintenance suppliers and home owners. Once the system is in place, the property management firm will receive rent payments into the business bank account and then disburse rental payments to home owners using our VISA direct deposit debit cards.

With this new rent payment and disbursement payment platform, the company will completely eliminate paper checks and the time spent processing cash and checks. The company has decided to custom brand the VISA debit cards to market the company throughout the Las Vegas consumer and business community.

If you are a renter, and would like to simplify your rent payment process, or if you are a property management company and would like to reduce operational costs of rent collection and disbursements with your renter and property owners, contact us today to learn more about our direct deposit VISA debit card and how it will reduce costs for your organization.

Chris Day is currently providing an international framework from which people can communicate, manage work, and payments, while following a process to ensure each person remains responsible for their allocation of time, money, and performance. Find out more by visiting Project Management Office (PMO Service).