Rentec Direct Releases Data on Rental Late Fee Trends in New White Paper

Rentec Direct Releases Data on Rental Late Fee Trends in New White Paper

GRANTS PASS, ORE./ SEPTEMBER 13, 2018 (STL.News)

Rentec Direct, an industry leader in property management software solutions, has published a new white paper entitled “Effect of Automatic Payments (ACH) on Rental Late Fees.” The paper analyzes data based on one year of rental payment behaviors, representing data from 13,000 property managers and 135,529 tenants.

“We wanted to definitively answer the question ‘can automatic payments prevent late fees and save renters money?’ so we pulled a year’s worth of rent payment data from our software system,” said Nathan Miller, president and founder of Rentec Direct. “From this data, we were able to dive into the trends surrounding online rent payments and late fees associated with tenant rent payments.”

The study outcomes that the new white paper uncovers showed significant differences in timely rent payments based on the implementation of automatic payment technology (ACH). In short, the data indicated that:

Paying rent online results in fewer late rent charges
Renters who do not pay rent online are more likely to pay late rent fees
Renters who set up monthly, automatic rent payments are less likely to pay late rent fees
Renters who pay rent online are less likely to pay rent late

“Effect of Automatic Payments (ACH) on Rental Late Fees” provides a succinct, data-driven overview of this issue, which can affect both tenants and landlords in the rental property space. For a look at the complete paper, which includes detailed statistics from the study, visit: https://www.rentecdirect.com/blog/automatic-rent-payments-white-paper/

About Rentec Direct
Rentec Direct offers industry-leading property management software and tenant screening solutions for real estate professionals. Features include online rent payments, tenant and owner portals, the industry’s largest vacancy listing syndication network, full property, tenant, and owner accounting, 1099-MISC reporting, QuickBooks™ Sync and more. Rentec Direct received three gold-level 2018 American Business Awards, was named to the 2017 and 2018 Inc 5000 List of Fastest-Growing Private Companies and the 2017 Entreprenuer360 list for Best Entrepreneurial Companies in America. http://www.rentecdirect.com

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SOURCE: https://www.prweb.com/releases/rentec_direct_releases_data_on_rental_late_fee_trends_in_new_white_paper/prweb15759183.htm