Faster Payments Comes To Renters

A cloud-based property management software is promising to take away the pain of paying and cashing rental payments with its ACH payment processing capabilities.

Rentec Direct has introduced ACH payment processing capabilities to its platform, which significantly reduces the payment processing time for rental payments and makes the funds available to landlords almost instantly.

“Collecting rent payments via ACH is more convenient for landlords and property managers, too, who can say goodbye to trips to the bank and manually entering check payments into their accounting system,” said Nathan Miller, Rentec Direct’s president. “Providing the option for faster processing for automated rent payments via ACH means our clients can access rental income almost immediately.”

In a press release, Miller pointed out that the upgrade to Rentec Direct’s platform comes on the heels of a growing demand for automated processing and recurring payments, which are evolving into a trend and set to become the norm.

“Online rent payments via ACH are becoming extremely popular, especially among millennial renters who want to automate paying rent, just like they do for paying all their bills online, like their cell phone, utilities and cable bill,” he added.

The Grants Pass, Oregon-based company, which claims to have over 12,000 clients worldwide, now faces competition from a growing base of SaaS-based rental payment service providers that are increasingly upgrading their platforms to provide secure and fast payment processing. Some of the popular rental payment services that are now ACH-enabled include RentPayment and Propertyware.