Best Online Rent Payment Services [Top 7 Reviewed]

There are countless tools online that you can use to have your tenants pay rent. These services will help you easily streamline your property management.

With technology developing so rapidly and the state of the environment declining, many businesses are choosing to go paperless. If you manage a rental property, you should consider doing so too. Having your tenants pay rent through an online payment service can make a huge difference in the efficiency of your rental business proceedings.

Why You Should Have Tenants Pay Online

Pretty much everybody has some sort of electronic device — whether it’s a computer, tablet, or mobile phone. Mostly everything is done online since it’s hassle-free, easy, and paperless. Having your tenants pay rent online will streamline the payment process and make it easier on both you and your tenant. This way, all of the payment information is in one place and you don’t have to deal with receiving mail, cashing checks, or processing direct deposits.
Here’s a breakdown of the benefits offered by online rent payment services:

  • No more late payments. Tenants will never forget to pay their rent on time and in full since most online services allow you to set up automatic late fees. This will give them the incentive to set up autopay or remember to log in on time to pay rent every period. Tenants also don’t need to worry about dropping a check in the mail or giving you cash. They simply set up an automatic transfer. I haven’t had one late payment since I’ve switched my rentals to online rent collection.
  • Convenience for both the landlord and tenant. No more trips to the bank or dropping by the property to collect rent checks. Everything is in one place online and it requires minimal effort on both parties’ ends.
    Competitive advantage. Standout from other landlords in your market and appeal to younger renters by offering a convenient, modern rent payment solution.
  • Easy rent tracking. No need to track rents in an offline spreadsheet. Online rent collection services make it easy to see which tenants are paid up. Hint: all of them will be paid up!
    Security. Financial transactions run through the ACH network rather than a paper check, which can be used to gather tenant bank account information.

Just like with anything, there are some downsides to having your tenants pay rent online. Remember, sometimes online rental payments aren’t the best option. It all depends on you and your tenant. For instance, if you have an elderly tenant who prefers to pay in cash or by check, you should consider accommodating them. Although, in today’s day and age, online payment will most likely be your tenant’s preference.

How to Choose an Online Rent Payment Service

When looking at the variety of online rent payment services available, there are certain factors that you should consider:

  • Price. Of course, you want to make sure that you have a budget for online property management services or software. When looking at rent payment methods, the total price includes any purchase or subscription charges, as well as any fees for service use during the multiple stages of the rental payment transaction.
  • User-friendliness. The online service you choose should be easy for you and your tenants to use. How quickly landlords can implement a rent payment system and how easily tenants can use the online service to pay their rent.
  • Methods of payment accepted. You want to know what types of payment are accepted so that your tenants can pay easily. Our review analyzes different online providers’ payment methods, such as credit cards and checking account transfers.
  • Ability to implement late fees. Late fees are a great way of enforcing on-time rent payments from your tenants. It gives them the incentive to pay their rent punctually and in full. The ability to implement an automatic late fee that is applied when a payment is overdue is an extremely convenient feature that you should look for.
  • Notification of payment. It’s nice to know when your tenants have submitted their rent payment. Whether that be through an email or app notification depends on the online service.
  • Automatic payment options. Tenant’s rent payments can be more consistent if they have the option to schedule automatic withdrawal. You’ll also be sure that they won’t forget to pay their rent on time and in full.
    One-time payment options. Certain tenants may benefit from a one-time payment option for security deposits, late fees, utility bills, or bi-weekly rent payments.
  • Ability to add utility bills. It’s a lot easier to bulk all of your tenant’s payments into one transaction. Being able to add utility bills to the payment is very helpful since it saves time and effort.
    The option to credit the tenant. Sometimes online payment services will give you the ability to give your tenant a rent reduction for whatever reason. Often tenants will do some minor maintenance around the property to get credited a portion of their rent payment.
  • Any additional features. This includes any additional features the platform offers, both in rent collection and in rental management overall. Elements like rental application, applicant screening, maintenance request ability, and others may be mentioned in this area.

Online Rent Payment Services

Our Rating: 10/10

Cozy

Cozy

Cozy.co is a website that offers a variety of property management tools for landlords. Along with these features, Cozy also features an online rent payment tool that is fast and easy. Best of all, that service is free of charge.

*Image from cozy.co.

Cozy.co is a website that offers a variety of property management tools for landlords. Along with these features, Cozy also features an online rent payment tool that is fast and easy. Best of all, that service is free of charge.

Features
  • Accepts the following payment methods: credit cards, debit cards, and automatic withdrawal from bank accounts
  • Allows landlords and property managers to set up late fees, as well as specific dates to automatically apply them
  • Landlords can opt for email notifications of completed rent payments
  • You can add utility bills to the payment as well
  • Ability to export rental payments for bookkeeping
  • Landlord dashboard to reconcile tenant payments
  • Tenant dashboard to track rent payments
  • Document sharing for leases and moving checklists
  • Marketing help for rental units
  • Internal rental application
  • Free applicant screening with background and credit checks
  • Renters insurance options for tenants
  • Landlord expense tracking
  • Ability to request maintenance
Pros
  • It’s free
  • Very simple to use and has a streamlined interface
  • Email notifications keep both parties informed at all times
  • Using multiple bank accounts makes it adaptable to your business size
  • You can manage all tenants at once
Cons
  • Payments are a bit delayed (2-day process) landlords can pay a $2.99 additional fee per unit per month if they want bank account transfers to be in their account more quickly
  • No way to refund a payment
  • Doesn’t offer an app specialized for landlords/property managers
Summary

Overall, Cozy is the best choice online rent payment service for landlords. Not only is it very user-friendly, but it’s also free of charge. In addition to the rent payment feature, Cozy also offers a wide variety of other helpful resources to streamline your rental business.

Our Rating: 8/10

Avail

Avail

Avail is a good option for landlords looking for a basic property management software. It offers you all the fundamental features you need to effectively manage a small portfolio of rental units. It’s also very easy to use and markedly cheaper than other services on the web.

*Image from avail.co.

Features
  • Avail accepts the following payment methods: credit cards, debit cards, and automatic bank withdrawals
  • Allows you to set specific dates for late fees to be applied
  • You can opt to receive notifications of payment
  • Allows for payment customization so tenants can make one-time payments if needed
  • You can add utility bills to the rent payment as well as credit the tenant in the event of a rent reduction
  • Ability to export rental payments for bookkeeping
  • Ability to export rental payments for bookkeeping
  • Allows document sharing for leases and more
  • Internal rental application
  • Applicant screening including background and credit checks, with landlord option to cover or charge
  • Welcome kits for tenants available to send for an additional fee of $39.99/each
Pros
  • Super simple to use
  • Affordable (free for the first unit)
  • Has secure login for tenants
  • Work order tracking lets tenants make requests
  • Has great customer support
Cons
  • Certain features cost extra
  • Doesn’t allow vendor ACH payment yet
  • No accounting services
  • Should have more customization
  • No ability to buy renters insurance
Summary

Avail is a great option for landlords who manage a small amount of properties/tenants. This is because it has an ideal balance of pricing and options for landlords with up to 15 rental units. Avail has plans ranging from $0 to $50 per month, so it is also quite affordable. Avail lets you register each tenant, enter their monthly rent and due date, and add a separate late fee that will be charged if rent isn’t paid past a certain date. Avail also allows you to schedule security deposit payments and due dates. Tenants have the option of logging in to make a payment every month or setting up recurring payments. Automatic email reminders are sent 5 days before rent is due, and again on the due date. Landlords can expect rent payments to be deposited within 3 business days.

Our Rating: 7/10

PayYourRent

PayYourRent

PayYourRent is an awesome online rent payment service for fast payment processing because, unlike other providers, they offer free, same-day rent payment processing. This means the money is deposited into your account that evening.

*Image from payyourrent.com.

Features
  • It accepts the following rent payment methods: credit cards, debit cards, and bank transfers
  • Allows you to set up late fees
  • You can opt to receive email notifications of payment
  • Offers automatic withdrawals from bank (recurring payments feature) and notifications for tenants before and after automatic payment occurs.
  • Allows one-time payments
Pros
  • Easy to use
  • Has a few different affordable payment plans ranging from $0 to $19.99
  • Fast processing and guaranteed security
  • Amazing customer service
Cons
  • No automatic recordkeeping
  • Does not let you credit tenants
  • No ACH transfers
Summary

This platform offers tenants the options of paying with eChecks, credit cards, and even cash. Tenants can log on to make individual payments or schedule recurring automatic payments. Payments can also be made over the phone. Landlords can expect to receive the money the same day too. In addition, PayYourRent builds a rent payment credit history and reports the information to both TransUnion and Experian.

Our Rating: 9/10

TenantCloud

TenantCloud

TenantCloud is a free cloud service for landlords to use. However, they do offer pricing plans at $9 and $35 if you have a larger portfolio or want to unlock ACH transfer features.

*Image from tenantcloud.com.

Features
  • It accepts the following rent payment methods: credit cards, debit cards and bank transfers (only available through a paid plan)
  • Allows you to set up automatic late fees
  • Gives landlord immediate payment notifications
  • Automatic bank withdrawal options (with a paid plan)
  • Allows tenants to make one-time payments
  • You can add utility bills
  • Ability to credit tenants
  • Tenants can pay via mobile app
  • Offers a full accounting package
Pros
  • Provides a variety of features that make it easy for tenants to pay rent
  • Gives accounting help to landlords
  • PayPal and Stripe integration available
  • Affordable payment plans
  • Free for up to 75 units
  • Fast transfers
Cons
  • ACH transfers are only availale through a paid plan
  • Have to enter a lot of information manually
Summary

Overall, TenantCloud is the best option for landlords who would like to use PayPal or Stripe. All of the helpful property management features are available for free, so if you have a relatively small portfolio, you can enjoy all of the benefits at no cost.

Our Rating: 7/10

Buildium

Buildium

Buildium is a bit on the pricier side, but its diverse range of property management resources make it a great choice for landlords lots of units.

*Image from buildium.com.

Features
  • Accepts the following payment methods: credit cards, debit cards, bank transfer, and retail cash payments
  • Allows you to set up automatic late fees
  • Gives you immediate updates
  • Allows one-time payments
  • You can add utility bills
  • Allows you to credit tenants, as long as they don’t pay through retail cash payments
  • Tenants can pay with any device
  • Provides roperty accounting & reporting
  • 1099 tax filing ability
  • Offers work order tracking
  • Provides tenant application & screening services
  • Has document storage capabilities
Pros
  • Offers lots of payment methods, including cash, unlike the other providers listed
  • Serves landlords with large portfolios (offering unique abilities like scheduling apartment showing and tracking renter violations)
  • Easy to use
Cons
  • A bit expensive compared to other sites
  • Slow customer service response
Summary

Even though Buildium is more expensive than other online services, it offers a variety of features that other sites lack. One of the aspects we like best about Buildium is its payment flexibility. It is one of the only sites that accept cash payments and it allows tenants to pay from any device. Buildium is also streamlined and easy to use, so you can be sure that all of your rental units are managed properly.

Our Rating: 8/10

SparkRental

SparkRental

If your main issue with rent payments is punctuality, SparkRental will guarantee that your tenants pay rent on time.

*Image from sparkrental.com.

Features
  • Accepts Credit cards, debit cards, bank transfers, e-checks, and automatic paycheck deductions
  • Option to receive email notifications
  • Automatic withdrawals available from banks and paychecks
Pros
  • Has a focus on reducing defaults and evictions
  • Offers a “RentDeduct” feature to help tenants that struggle with poor credit histories
  • Provides early results for tenant job loss in the RentDeduct program
Cons
  • No additional features that are markedly unique or helpful
  • Charges 1.9% for RentDeduct, which automatically deducts the rent payment from tenants’ paychecks
  • You can’t set up one-time payments, add utility bills, or credit tenants
Summary

SparkRental is designed to aid landlords with a more challenging tenant base. It helps to guarantee that rent payments will be paid in full and will notify you of any changes in the tenant’s financial situation. This means you will have ample time to make adjustments in order to continue collecting rent effectively. The best part of all, ACH transfers are free.

Our Rating: 9/10

Rentler

Rentler

Rentler is a popular property management software that has a straightforward dashboard and customization options.

*Image from rentler.com.

Features
  • Accepts the following payment methods: credit cards (2.9% fee), debit cards (2.9% fee), and bank transfers (free)
  • Rent is deposited in two business days
  • Multiple tenants can split payments across their own accounts
  • Ability to set up automatic late fees
  • Free credit reporting
  • Automated reminders
  • Provides bank-level security
Pros
  • It’s free to use; for extra fees, you can unlock a variety of legal forms or background and credit checks run by TazWorks
  • Easy to use and always being updated/streamlined
  • Great customer service
  • Affordable, customizable plans available
Cons
  • Payment details are a little confusing
  • Charges $1.95 for ACH to both the tenant and landlord every time
Summary

Rentler, like Cozy, is free and offers an assortment of property management resources. It also offers some of the fastest and most affordable ACH transfers, which some landlords will greatly appreciate.

Our Top Picks

Best Overall

Cozy

Best Budget

TenantCloud.com

*Although both Cozy and TenantCloud are free, TenantCloud offers more property management features (though they are a bit complicated).

Best for Challenging Rentals

SparkRental