Make Rent Payments Secure

According to Niche.com, the median rent in San Diego is $1,695 per month, according to Niche.com. That is a sizable amount of money, but renting is more affordable than paying a super-sized mortgage in San Diego. So, it makes sense for many people to rent a house or condominium first and then buy a home after saving more money.

Landlords in San Diego understand how important it is to receive the rent money on time. There are ordinary expenses such as mortgage loans that must be paid, or a property owner risks incurring expensive fees. Therefore, it is critical to get the money securely. The old-fashioned ways of collecting rent carry a risk that a landlord can avoid.

Stop Using the Mail!

The United States mail used to be the best alternative to collecting rent in person. That is not true anymore. It is not just the possibility that mail is stolen; mail gets delayed, and the pause creates problems. Thieves are getting very creative, and some use portable vacuum cleaners to standard post boxes. Using drop boxes, by the way, are another invitation to steal using those same small vacuum cleaners.

Besides, paper payments can be clumsy. Certified checks or money orders can be a clumsy method and are not highly effective over the long run. Cash payments, of course, are out of the question these days. Fortunately for property owners in San Diego, there are viable alternatives to the traditional ways.

Go Paperless

Social media makes things safe and easy. For example, Venmo and Zelle will allow a tenant to authorize a rent transfer to the landlord, which is very user-friendly. Apple Pay is another possibility. However, there is a catch when using a mobile option.

There can be fees per transaction involved. That is true with Venmo, which charges at least 3% in business transaction fees. A landlord may have to absorb that transaction cost which cuts into any profit. Zelle is good, but the landlord’s bank must support it. Major banks support Zelle, but some local community banks might not. If that is the case, then recurring payments will be out of the question. Apple Pay helps, but both the tenant and the landlord must be Apple customers and have an iPhone. PayPal is an option, but PayPal will charge a fee for every rent payment.

We think electronic transfers are the safest and most convenient way to get rent from the tenant to the landlord’s accounts. ACH electronic transfers can be quickly set up, and the money is received on a specific day of the month. It can take up to three days to receive the funds from an ACH electronic transfer and requires a little scheduling activity that is not that difficult.

However, these alternatives require time that a landlord might not have. A mistake can result in fees being charged as well as rent delays. The latter is something that every sensible landlord wants to avoid. It makes sense to use a third party to administer rent payments, given the demands on the time of a typical property owner. Property management companies in San Diego are familiar with all payment practices. These professionals can be relied upon to do the job accurately. Alta Vista Properties can make accepting the rent incredibly easy.

We are a property management company in San Diego, dealing with rent issues for years. We establish electronic transfers with new tenants as soon as they sign the lease. It means that initial rent payments are prompt and future transactions are dependable. Accounts payable is just one of the many services we offer to property owners in San Diego. We have others that make us one of the best in the industry.

Please do inquire at any time about our property management services. You can reach us at 858-274-3600 or by email at info@altavistaProperties.net. We look forward to hearing from you and answering your questions.