Rentals.com is making the rent payment process easier for everyone by allowing every tenant that uses its platform to pay their monthly rent regardless if their landlord accepts online payments.
According to the website, any renter can use its online payment functions to pay any landlord.
And the function will likely have appeal, as the company reports that more than 43 million households pay rent each month. And of those, approximately 80% of them (roughly 34 million households) use paper-based methods like writing checks or paying cash.
Now, all of those households will be able to pay their rent via eCheck, debit, or credit card, regardless of whether the landlord has an account with Rentals.com.
How it works is that renters can use the Rentals.com platform to submit their online rent payment. Then the website will mail a check to their landlord even if the 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,” the company states.
For the landlord, the service is free. But the renter will have to pay for the convenience.
According to the company’s website, Rentals.com will charge 3% of the rent payment for credit/debit cards and $2.95 per eCheck/ACH transaction.
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