Pandemic or Not, Data Shows Drive Toward Digital Contactless Payments
Property management software provider Rentec Direct recently published a white paper with data for online rent payments. The data shows that applications for online rent payment services from landlords and property managers have increased by almost 20 percent in 2021 compared to pre-pandemic data. At its peak, this number spiked by as high as 40 percent in February 2021.
“Varied regulations surrounding the rental housing market have impacted both tenants and landlords in a myriad of ways,” said Nathan Miller, president of Rentec Direct. “Pandemic or not, online rent payments save landlords significant time and money, increase convenience for renters and are proven to prevent late fees. Looking toward 2022, I believe the data shows that the drive toward digital contactless payments will carry on across the board and we will continue to see increased interest in online rent payment services from landlords and property managers.”
On average, 124 landlords or property managers per month submit applications through the Rentec Direct software platform to turn on online rent payment capabilities for tenants via ACH, credit card or debit card. The number of applications in 2021 is up 16 percent, following an increase of 8 percent in 2020. Rentec collected aggregated anonymous rent payment data from clients using its property management software platform. The data represents information from more than 16,000 landlords and property managers and 620,000 rental properties nationwide.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.