ACH Processing for Property Management

Waiting on tenants to come around to pay their rent, or mail you a check. Not fun at all and I speak from experience. So what to do?

It would be nice (real nice) if they just paid you like clockwork without any work on your part. But that's not going to happen right? Well if you implement an ACH Payment Processing program you can sit back and relax knowing the rents are paid.

What do I need to do? First you need a 3rd party payment processor. They will have a front end tool (usually a Virtual Terminal-web based platform) allowing for recurring and one-time payment set up. Most allow you to upload payment data if you already have a management software. Once you have your tenant complete an Authorization form (giving you permission to electronically debit their account) you set them up for the recurring rent debits. Monies are deposited into your bank account and transaction reporting is provided for reconciliation.

Costs? An ACH transaction shouldn't cost much more than .35 (thirty-five cents). You can even take credit cards but credit cards charge a percentage (eg 2.19%) of the rent amount. If you are taking rent payments via a web site you can pass this fee along to the tenant.

So why not make your life easier and visit ACH Payments for more info. You'll get a 60 day Guarantee and the best tools in the business.