ATLANTA, Georgia, May 16, 2019—Rentals.com announced today expanded capabilities to its RentPay solution, which now allows ANY renter to pay ANY landlord online.
Across the United States, more than 43 million households pay rent each month; 80 percent of them still use paper-based methods, such as writing checks or paying with cash, versus more seamless electronic alternatives. Other rental platforms have built features for online payment acceptance, but face the hurdle of persuading the landlord to “opt in.” The renters’ payment options are limited by landlord preferences.
The common disconnect between what landlords accept and how renters want to pay created an opportunity for Rentals.com.
Through its enhanced RentPay solution, ANY renter can pay ANY landlord online via eCheck, debit, or credit card, regardless if the landlord has an account with Rentals.com. Renters can submit their online rent payment, and Rentals.com will mail a check if their landlord isn’t registered on the platform. This provides flexibility for both the renter, who prefers digital forms of payment, and the landlord, who still requires a physical check.
It’s easy for a renter to sign up for the service. They simply create a RentPay account, then provide their landlord’s basic information, including name, payment address and the monthly rent amount. They then specify when they’d like their landlord to receive their rent check and choose their payment method.
For landlords eager to begin accepting rent online, Rentals.com offers an effortless and free platform for them. Once enrolled, the landlord will begin to receive rent payments directly into their bank account, removing the burden of depositing checks or cash each month. Additionally, landlords can now offer their tenants the option to use various payment methods, like credit or debit cards, to pay rent.
“We wanted to create an easy and delightful rent payment solution that appealed to both renters and landlords,” says Nishant Phadnis, General Manager of Rentals.com. “We believe empowering the renter to drive the payment experience can transform the industry. Even if some landlords have been slower to adopt, we think giving renters the choice and flexibility to pay rent digitally will change historical behavior.”
Rentals.com’s RentPay feature, powered by Yapstone, now provides renters and landlords with a slick, modern payment experience that will spearhead an industry-wide transformation. To learn more, visit Rentals.com/Rentpay.
Rentals.com is the premier destination for renters and property owners/managers in the single-family rental marketplace, providing a mobile-first experience that solves unmet needs throughout the renter/property manager journey. Rentals.com is one of four brands under the RentPath umbrella alongside ApartmentGuide, Rent.com and Livelovely.com.
RentPath is a leading digital marketing solutions company that empowers millions nationwide to find apartments and houses for rent. Through its brands, RentPath continues to simplify the rental search experience while driving quality advertiser leads that result in occupancies and a high return on investment. With powerful online and mobile solutions that provide prospective renters with the information and tools they need, RentPath connects consumers with a home that reflects their personal lifestyles.
RentPath helps people navigate the rental journey by providing a delightful, stress-free experience so that all renters find and enjoy their ideal home.