As a landlord, efficiently managing rent collection is essential for smooth property management. Fortunately, several excellent apps are designed to simplify this process. Here’s a comprehensive guide to some of the top rent collection solutions, including their features and fee structures. 

Online Rent Payment Solutions for Landlords: Here are some of the top options available:

1. Rent App (Free to use) 

•  Online Payments: Tenants can pay their rent electronically, reducing the hassle of handling physical checks.
•  Bi-Weekly Payment Splitting: If tenants are paid bi-weekly, they can split their rent payments, making it easier for them to manage their finances while ensuring you receive the full amount on time.  The cost is, only $20, which could save Tenants money on late fees, and allow the landlord to get full rent on time!  
•  Automatic Reminders: The app sends timely reminders to tenants about upcoming rent due dates.
•  Financial Tracking: Both landlords and tenants benefit from clear records of transactions. 
•  Build credit while renting Rent App brings you closer to homeownership by optionally reporting rent payments to the major credit bureaus.

2.  Apartments.com: (free)

Apartments.com provides a range of free features to support landlords in managing their properties effectively:

•  Find Renters Fast: Utilize Apartments.com’s extensive network to quickly list your property and reach a large pool of potential tenants. The platform's high visibility helps attract qualified renters.
•  Create a Lease Agreement in Minutes: Generate customized lease agreements using free templates that are compliant with local regulations, ensuring a smooth and legally sound leasing process.
•  One-Stop Tenant Screening: Conduct comprehensive tenant screenings, including background checks, credit reports, and eviction history, all from one platform, to help you make well-informed decisions.
•  Easily Track Rental Income and Expenses: Manage your rental finances efficiently with tools to track income and expenses. This feature simplifies financial management and aids in accurate record-keeping.
•  Free to Use: Apartments.com offers these services at no cost, providing a valuable resource for landlords without any associated fees.

3. Zillow Rental Manager (free) 

Zillow Rental Manager is a robust platform designed to streamline the rental process for landlords. Here’s what it offers:

•  Find Renters Fast: Use Zillow's extensive network to quickly list your property and attract potential tenants. The platform's high traffic ensures your listing gets maximum visibility.
•  Create a Lease Agreement in Minutes: Generate customized lease agreements with ease, using templates that comply with local laws and regulations. This feature simplifies the leasing process and ensures legal protection.
•  One-Stop Tenant Screening: Access comprehensive tenant screening services, including background checks, credit reports, and eviction history. This helps you make informed decisions about prospective tenants.
•  Track Rental Income and Expenses: Manage your finances efficiently with built-in tools to track rental income and expenses. This feature provides an overview of your financials and simplifies tax preparation.
•  Affordable Pricing: Zillow Rental Manager offers competitive pricing, typically starting at a nominal fee for listing properties and screening tenants. This makes it an accessible option for landlords of various sizes.
  •  Online rent collection is free for landlords, and free for renters if  they pay with ACH (bank transfer). 
  •  Tenants will pay a 2.95% fee when using a credit card and a $9.95 convenience fee for debit payments. 

4.  Innago: (Not free for Tenants, Only Landlord) 

Innago provides a range of services to streamline property management. Key features include:

•  ACH Payments: $2 per transaction, allowing tenants to pay rent directly from their bank accounts.
•  Credit/Debit Card Payments: 2.99% fee per transaction for payments made using credit or debit cards.
•  Customizable Application Builder: Free, allowing landlords to create tailored rental applications.
•  Tenant Screening: Includes criminal, credit, and eviction history checks, with costs ranging from $30 to $35 per applicant.
•  Income Verification: Available for $10, providing additional assurance of tenant financial stability.
•  Online Leasing & Document Storage: Both services are provided free of charge, simplifying lease management and documentation.

Innago offers a comprehensive set of tools with transparent pricing to help landlords efficiently manage their properties.

5. PayRent  (Not Free) 

 PayRent is a user-friendly platform designed to simplify the rent collection process for landlords. Here’s a detailed look at its offerings: 

•   5-Day Funding: Receive funds from rent payments in just five days, ensuring timely access to your money.
•  Bank Transfer Fee: $6 per bank transfer, allowing for efficient ACH payments.
•  Debit Card Rate: 1.0% + $5.95 per transaction for debit card payments.
•  Credit Card Rate: 3.5% + $5.95 per transaction for credit card payments.
•  Activation Fee: $10 activation fee to start using the platform.
•  Rent Reminders: Automated reminders to ensure timely payments from tenants.
•  Payment Controls: Manage and control payments with customizable options.
•  Scheduled Payments: Tenants can schedule payments for convenience.
•  RentCred Loans for Renters: Offers RentCred loans to help renters with financial needs.
•  Split Rent Payments: Allows tenants to split their rent payments if needed, accommodating their payment schedules.

With PayRent, landlords can efficiently manage rent collection, enjoy flexible payment options, and access a range of useful features to streamline property management.

6 Baselane: (Not Free, $2 fee to Landlord) 

Baselane offers a streamlined approach to rent collection with a focus on automation and efficiency. Here’s what you need to know:

•  Automated Reminders & Late Fees: Baselane helps reduce late rent payments with automated reminders and the ability to set late fees. This feature eliminates the need for landlords to chase tenants for payments or manage late-night collection efforts.
•  Fast Rent Collection: Rent payments are processed quickly, with payouts deposited directly into your Baselane account or an external banking account. With QuickPay, funds can be available in as little as 2 days, ensuring timely access to rental income.
•  Fees: 

ACH Deposits: $2 per transaction if deposited into an external bank account, which can be charged to either the tenant or the landlord. No fee for ACH deposits into a Baselane banking account.

Card Payments: 3.49% fee for credit/debit card payments, which is charged to the tenant.

Baselane provides a convenient and efficient rent collection solution with a focus on reducing the administrative burden for landlords and ensuring faster access to funds.

7. TenantCloud (not Free) 

 TenantCloud offers a comprehensive suite of features for landlords but isn't free 

•    Starter Plan ($15.60/month):
•  ACH Rent Payments: $1.95 per transaction
•  Tenant Screening: Free (paid by tenant)
•  Document Templates: 10 templates available, including basic lease agreements, rental applications, and other essential forms. These templates help landlords manage common documentation needs efficiently. 

Quickly find renters, create lease agreements in minutes, conduct thorough tenant screening, and easily track rental income and expenses—all from one platform. 

8. AppFolio (Not Free) 

AppFolio is a powerful property management solution tailored for larger property managers and landlords. Here’s an overview of what it offers:

•  Minimum Spend: $298 per month, making it suitable for landlords managing at least 50 units.
•  Comprehensive Property Management:
  •  Rent Collection: Streamlined rent collection processes with automated payments and reminders, ensuring timely and efficient management of rental income.
  •  Maintenance Requests: A robust system for handling maintenance requests, allowing tenants to submit and track issues while providing landlords with tools to manage and resolve these requests efficiently.
  •  Accounting Features: Detailed accounting tools to manage finances, track expenses, and generate financial reports. This includes handling late fees, managing security deposits, and reconciling accounts.
•  Online Leasing: Simplify the leasing process with online applications, lease signing, and document storage.
•  Tenant and Owner Portals: Provide tenants and property owners with dedicated portals for easy access to payment history, maintenance requests, and important documents.
•  Marketing Tools: Tools to list properties, syndicate listings to major rental sites, and attract potential tenants.
•  Reporting: Extensive reporting options for financial and operational insights, including profit and loss statements, rent rolls, and occupancy reports.

AppFolio is designed to meet the needs of larger property management operations, offering a comprehensive suite of features to streamline rent collection, manage maintenance, and handle detailed accounting, all tailored for more extensive property portfolios.

•  Convenience: Streamlines the payment process for both you and your tenants.
•  Efficiency: Minimizes the need for physical checks, cash, and manual tracking.
•  Flexibility: Offers various payment options and features to accommodate different tenant needs.
•  Fee Structure Awareness: It’s important to be aware of the fee structures associated with different rent collection apps, as these can impact both landlords and tenants. 

If you’re looking for professional assistance with renting out your property, we can help! Our team at The Gifford Group offers expert services to make the rental process seamless.

Download our  Tenant Selection Criteria - From The Gifford Group 

•  Rent Affordability Calculator: Determine how much rent you can afford based on your budget.
•  Rental Property Investment Calculator: Analyze the financial potential of your rental properties. 

Explore these tools and apps to streamline your rental management and maximize your investment. For more information and assistance, don’t hesitate to reach out to us!

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