6 Benefits of Paying Your Rent Online

Have you recently started the apartment hunting process or just moved into a new place and were informed that the landlord collects rent online? You might be used to paying your rent in person or simply mailing off a check and are reluctant to pay your rent online, but there are a few benefits you might not have considered. With the ability to pay your rent from anywhere at any time, online payment options allow renters to take better control of their finances, remove stress, and even improve your credit score.

Reduce Stress with Automated Payments

Stop worrying about what day it is and whether or not you paid your rent with automated, recurring payments. Automated payments not only reduce stress but ensure your rent is paid on time, build your credit score, and help avoid late charges.

Reduce the Chance of Fraud and Theft

When mailing your rent check to your landlord, your bank information is at risk. With your personal and bank information printed directly on the check, this information is relatively easy to reproduce. With online banking, you eliminate the paper trail and the wrong person getting ahold of the personal information on a check.

Visibility of Your Payment History

Often overlooked, having the ability to easily check your payment history is one of the best benefits of paying your rent online. By simply logging in to your online payment system, you will be able to see your current record of payments in real time. Day or night.

Flexible Payment Options

With several online payment options, such as PayPal, Masterpass, or setting up direct withdrawals from your bank, paying rent online is extremely flexible. And, depending on how you are paying, you can still build points on your credit card!

Build Your Credit

By paying your rent on time every month, you are able to build your credit, which can help you get a lower interest rate for financing a car or any other large purchased. Your rent is most likely the largest recurring payment you have each month and paying it on time can have a positive impact on your credit score.

Reduce Trips to the Bank

Hate spending your free time at the bank? With advances in online banking, it’s now easier than ever to make deposits and transfer money between bank accounts. When you pay your rent online, you’re reducing the number of trips you need to make to the bank to transfer money, order new checks, or cash a check. Another benefit? You’re helping the environment by reducing paper waster.