Paying online Discounts?


#1

We have several parks (Minnesota, Montana and Washington) and we use a program so our tenants can pay us online, rather than mailing in a check or money orders. If they pay online it is very easy for staff to process the accounts, as it is all merged with quickbooks. When we get checks we scan them to deposit them and then have to enter them into the system. If it is a money order, they don’t scan so easily, so we have to drive to the bank to make the deposit. So my question is, does anyone give a discount to your residents if they pay online through their tenant portal? If so, what do you give them?


#2

A discount is not necessary. All you do is give notice that all payments are required to be paid on line.
Alternately you allow them to deposit directly to a special account you set up. You may get some push back with the excuse that they do not have bank accounts but it is not necessary for them to have their own account. Make the payment system mandatory will have better results than offering a discount.


#3

I agree with @Greg, discounts are a gimmick that only create extra work for you. Let the tenants know their options and they can select whichever will allow them to be most likely to pay on time. Any special fees for convenience should be passed on to them. I specifically disallow check mailing so I can have firm documentation when rent was paid, and whether it was late or not. USPS is particularly bad here and don’t want that creating drama for me.