How to get Tenants to Pay EFT???

[Calvin Ozanick]

I currently manage 125 units in Janesville and Beloit WI. Many of our tenants are elderly, or lower income. Also, many of them do not have bank accounts. These are the types of people I typically house in my units. However, I pay to use buildium to manage our properties, but I would like to get away from constantly having to chase rent. Any ideas on the incentive front to get our tenants to pay online? I was considering a program where rent would go up $25 and they would get a $25 monthly "discount" to make payments online and on time. 

[Timmi Ryerson]

I use Smart Property Systems for my property management software.  It is easy to use and the rent collection is automated for my tenants.  They automatically get their statement monthly.  They log into their tenant portal and can make their payment using the software from a computer or their phone.  Their payment is processed by the payment processor and deposited directly into my account.  But the best part is that all of the accounting is automated.  So I spend only the time it takes to look at my rent roll and enter my expenses for the month into my ledger.  Everything else is done for me.  I love it and my tenants love it too.  I get all of my reports and analysis as well. They have great customer service. I recommend that you call and find out what it would take to get your account set up there.