18 Nov Tenant Online Payment
Eliminate Collection Hassles with Tenant Online Payment
MW Real Estate Group—headed by President Wolf Baschung, CCIM, CPM—has recently implemented a new tenant online payment portal on their website by using PayLease.com.
PayLease is a leading payments provider for the property management industry, specifically serving the Residential, Homeowner Association and Commercial markets. PayLease provides property managers the ability to collect rent, dues and lease payment electronically, eliminating the need to keep track of and scheduling payments each billing cycle. In short, Paylease provides an awesome tenant online payment system.
MW Real Estate Group utilizes the PayLease tenant online payment system in conjunction with their property management software so they can focus on other aspects of management as opposed to collecting and coordinating payments. They adopted the system within the context of a new 21 building USC student housing property management portfolio that required a slightly different approach to the traditional multifamily property management that forms the mainstay of MW property management.
The USC portfolio had been previously poorly managed and the tenant online payment portal was part and parcel of the MW strategy for resolving the management disarray by upgrading it with high tech solutions and keeping management services cost effective. Thus, in addition to creating their own specific tenant online payment portal they also erected a transparent management filing system using Dropbox for communal sharing between the owners, their company and external participants such as off-shore bookkeepers.
Since the USC portfolio requires MW Real Estate Group to deal with students from all over the world, the tenant online payment portal allows them to keep track of and receive payments on time, regardless whether students are on summer vacation or paying from abroad. For leasing purposes MW coordinates with students in disparate locations using another state-of-the art software, Docusign. This software, widely used by Realtors for real estate transactions, was adopted by MW for its leasing.
Using Docusign MW can get students anywhere in the world to esign a single lease agreement online for upcoming academic year house rentals. Currently using PayLease and the online portal, MW Real Estate Group has greatly minimized the amount of time and work spent on the administrative end of the bookkeeping. PayLease provides property managers with secure, cost-effective and easy-to-use payment solutions to allow them to more efficiently run their business. The solutions within PayLease are built with features that exclusively meet the needs of property managers and their management software.
Property management companies of all sizes use PayLease so residents can pay rent or HOA dues online.
For more information on PayLease visit www.paylease.com.
Also checkout this article on rent collecitons: 7 Tips for Collecting Rent and Getting Paid On Time
About PayLease, LLC
PayLease, LLC (www.paylease.com), is a leading electronic payments provider for the property management industry, specifically targeting the multifamily, single family, HOA and commercial markets. PayLease provides property managers the ability to accept and manage rent payments and HOA payments through a secure online interface. With PayLease, residents are able to pay their property manager using an E-check or with a credit card. Since its inception in 2003, PayLease has grown to serve thousands of property management companies nationwide and is among the fastest growing technology companies in the United States.