Over the last 12 years, I’ve moved a lot. Moving out of state for college, I moved (on average) once a year. When I moved back home to start a career, I moved a few more times. Nearly all of those moves were into a rental unit. With new rentals come the challenges of new landlords. As a tenant paying rent, I needed to learn the quirks and nuances of everything from monthly payments to maintenance requests. And I’m not alone.
Millennials are the largest group of renters in the U.S., and while many of us want to purchase a home, it’s difficult given the stagnating debt and inability to get ahead. In fact, 48% of millennial renters have zero dollars saved for a down payment. And nine out of ten millennial renters want to purchase a home, but only 4.4% plan to do so within the next year. It’s a struggle, and we’re definitely forced to rent.
Improving the Life of a Tenant Paying Rent
Renting isn’t always a negative option. As a single, working professional, I’m busy and don’t have the extra time to worry about home maintenance. And, despite the assumed battle of the generations, millennials aren’t alone. Baby boomers are also opting for rentals, with many selling their single-family homes and moving into condos or apartments to ditch the hassle of maintaining a home.
With more and more people choosing to rent a home, landlords and property managers need to ensure they’re adjusting their businesses to meet the needs of their tenants.
Online Rent Payments
One of the biggest changes landlords can make is adopting rental management software. Not only is it improving their lives by automating many of their daily tasks, but it’s also helping their tenants. Most importantly, for someone like me, it gives me an easy way to pay my rent — entirely online.
Benefits of Online Software for a Tenant Paying Rent
- Never mail another check
- Set a recurring payment and say goodbye to late fees
- Receive automated receipts for record-keeping
- Forget about multiple trips to the bank
I pay all of my bills online. From credit cards to my auto loan, everything is either automated or made simple through an online portal. I love to set and forget my payments, so I never have to worry about late fees.
Making online payments makes a massive difference in my life. Although payments occur once a month, it’s still a pain to write a check. Especially since my bank, like many, doesn’t offer free checks anymore. When I can make a payment online, I can take care of payments within minutes — from anywhere.
If you’re a tenant or a landlord and you want to adopt a simplified process, I encourage you to get in touch with the team at RentMindMe. They’ve developed a solution that helps with all aspects of rental management. From rent payments to maintenance requests and everything in between, their solution is developed by landlords and built to simplify every aspect of rental management.