Rent Payment Trends Report on Online Payments

This report presents five data-backed strategies aimed at increasing online rent payments within multifamily companies. It outlines the challenges faced by property managers in automating the rent collection process, noting that a significant portion of rent payments are still made using paper methods. The report emphasizes the importance of transitioning to a fully automated rent cycle, which can enhance efficiency and reduce costs associated with manual processing of paper payments. The five strategies discussed include offering a variety of payment types, providing complimentary ACH options, sending automated rent reminders, and integrating both a traditional resident portal and a community app. Each strategy is supported by internal data from Zego, illustrating how these practices have led to increased digital payment adoption among clients. The report aims to guide property management companies in implementing these best practices to achieve higher efficiency and cost savings.