At Peace of Mind, we’ve taken many steps to make it as easy as possible for our tenants to remember to pay their rent on time, consistently each month. Every month they receive their invoice prior to the first of the month, so they know how much is due and when.
Then we give them many payment options. The easiest is to go onto their tenant portal and pay with a bank account, which is free for them. They also can use a credit card if needed, though they do have to pay a surcharge for that service. We’ve also partnered with Pay Near Me, so they can pay cash at many local convenience stores.
And for those that really need to mail that check or money order each month, we allow them to do that, but they must provide a tracking number prior to the first of the month. So, we don’t get that “the check is in the mail” excuse anymore. This leads to more on-time and consistent payments eliminating that cashflow nightmare for our landlords.