{"id":11883,"date":"2014-12-16T05:00:57","date_gmt":"2014-12-16T13:00:57","guid":{"rendered":"http:\/\/www.yardi.com\/blog\/?p=11883"},"modified":"2020-12-24T02:57:00","modified_gmt":"2020-12-24T10:57:00","slug":"text-your-rent","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/text-your-rent\/","title":{"rendered":"RentCafe TextPay"},"content":{"rendered":"

Yardi\u2019s RENT<\/em>Caf\u00e9 TextPayTM<\/sup> feature is the most recent addition to the software\u2019s mobile payment functionalities, reducing delinquencies by giving users another convenient option to make rent payments on schedule.<\/p>\n

Residents opt into the service through the property\u2019s resident portal, then set up the account from which payments will be deducted. Whenever they\u2019d like to make a payment, residents can text \u201cpay now\u201d \"SM_Blog_RentCafeTextPay\"to a short code and then verify the payment. A confirmation marks the completed transaction. The\u00a0TextPay service is free for residents and property managers as part of the RENT<\/em>Caf\u00e9 resident services package.<\/p>\n

The mobile feature helps to decrease delinquencies by giving residents yet another option to conveniently make a payment: those who enjoy face-to-face interactions can still pay in person; those with steady fund availability can schedule a reoccurring payment online; and now those who desire the greatest degree of flexibility can pay through the app or via text.<\/p>\n

Robert Sang, Technical Project Leader, Programming with Yardi<\/a>, believes that it\u2019s the convenience of text-to-pay that makes the tool so effective. \u201cThe capability of making a payment from your mobile device at any time is appealing,\u201d says Sang. \u201cThese features offer the residents a new comfort level when making payments by eliminating the need for a computer or check.\u201d<\/p>\n

By offering a variety of payment options, property managers can help residents work around the barriers that hindered on-time payments. Limited leasing office hours, a lack of checks, no stamps, federal holidays\u2014those delays are a thing of the past. Online portals and mobile payments make settling balances simple and convenient. Everyone stands to benefit.<\/p>\n

\u201cDoes it decrease delinquency? Absolutely,\u201d confirms Sang. \u201cI will tell you that we see greater through traffic in our resident services application between the 25th – 5th of the month. During that period, there is a spike in online payment activity. Approximately 90% of payments are made within this time.\u201d<\/p>\n

As an added bonus,\u00a0TextPay and other online services save time for managers by reducing the workload of onsite staff and minimizing the risk for costly human errors. Mobile payments eliminate the need for staff to process physical checks or take a credit card payment in person. The flexibility of when, where, and how to pay is placed in residents\u2019 hands.<\/p>\n

While mobile payment options help to hedge against delinquencies, Sang and his team acknowledge that promoting reoccurring payments is still the best option for property managers who would like to improve rent rolls.<\/p>\n

\u201cBy having scheduled reoccurring payments, the benefit is that a property manager can project out into the future on the rent roll with a greater certainty than you can now when users are just making a one-time payment,\u201d says Sang. Encouraging residents to sign up for reoccurring payments while they are signing or renewing their leases could be a beneficial tactic for onsite staff.<\/p>\n

Each method of payment through RENT<\/em>Caf\u00e9 offers the reliability and safety features that residents have come to expect. \u201cWe employ multiple layers of security on all of our resident services applications, so from the moment that you log into the application to the moment that you log out, it\u2019s all on a secure channel just as if you were logged into your bank\u2019s website. That\u2019s the same level of security that we enlist. We have a really high regard for user security and privacy,\u201d Sang says.<\/p>\n

By offering a variety of secure, convenient payment options for their clients, property managers can minimize delinquencies, save time for onsite staff, and gain a competitive edge in the multifamily market. \u201cIt\u2019s safe, easy, and immediate. That\u2019s what residents want,\u201d says Sang.<\/p>\n","protected":false},"excerpt":{"rendered":"

Yardi\u2019s RENTCaf\u00e9 TextPayTM feature is the most recent addition to the software\u2019s mobile payment functionalities, reducing delinquencies by giving users another convenient option to make rent payments on schedule. Residents opt into the service through the property\u2019s resident portal, then set up the account from which payments will be deducted. Whenever they\u2019d like to make […]<\/p>\n","protected":false},"author":440,"featured_media":12194,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_s2mail":"yes","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4],"tags":[291,589,170,137,932,962,40],"class_list":["post-11883","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-millennials","tag-multi-family","tag-rentcafe","tag-renters","tag-text-your-rent","tag-textpay","tag-yardi"],"acf":[],"yoast_head":"\nYardi Blog<\/title>\n<meta name=\"description\" content=\"Yardi\u2019s RENTCaf\u00e9 TextPayTM feature is the most recent addition to the software\u2019s mobile payment functionalities, reducing delinquencies by giving users\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RentCafe TextPay\" \/>\n<meta property=\"og:description\" content=\"Yardi\u2019s RENTCaf\u00e9 TextPayTM feature is the most recent addition to the software\u2019s mobile payment functionalities, reducing delinquencies by giving users\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardi.com\/blog\/text-your-rent\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Blog\" \/>\n<meta property=\"article:published_time\" content=\"2014-12-16T13:00:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-12-24T10:57:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2014\/12\/SM_Blog_RentCafeTextPay.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Erica Rasc\u00f3n\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Erica Rasc\u00f3n\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.yardi.com\/blog\/text-your-rent\/\",\"url\":\"https:\/\/www.yardi.com\/blog\/text-your-rent\/\",\"name\":\"RentCafe TextPay - 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