Property management is all about managing people. As a business owner, you have to be able to work well with both property owners and tenants, and sometimes even repair contractors. Though it can feel like a somewhat thankless job at times, it can be a great option for those who are great with numbers and with people.
However, property management is considered high-risk, specifically because of the people involved.
As a manager, you have to keep track of rent from individual tenants, as well as any expenses that go into maintaining the properties. You also have to keep open availability and stay in touch with property owners to ensure you’re listening to problems that arise.
Some payment processors just see the many risks involved with property management. At Free Merchant Terminal, we see all the potential benefits as well.
Take large and small payments
Take large and small payments every month.
Set up recurring billing to make payments easier.
Keep track of who has paid and who hasn’t.
Immediately receive a notification for suspected or confirmed fraud from any of your payment sources.
When managing properties, there are plenty of payments to manage. Rental payments, of course, are the most regular payments, but they’re not the only ones. You also need to factor in utilities, maintenance crews, insurance, parking permits, and a variety of other payments, both in and out.
Free Merchant Terminal gives you the freedom to keep track of all your payments, regardless of how large they are or what they’re for. Whether you need to make sure all your tenants have paid their rent or you’re keeping track of how much has been spent on tenant repairs for certain properties, Free Merchant Terminal can help.
Your billing may be set up in a number of ways, but recurring billing can actually help your business remain stable. With a recurring billing structure, you can automatically send out reminders to tenants. If the owners of the properties pay you a fee directly, you can also set up recurring billing for their portion of the payment.
Recurring billing is an essential part of Free Merchant Terminal’s payment processes, and it’s simple and easy to set up. We’ll help you switch over your payment structure to recurring billing with hardly any hassle, making it easier to focus on managing properties.
As a property manager, it’s your job to deal with tenants of all types, from the unruly to those you never hear from. If you do have a tenant who refuses to pay, or who has a history of paying late, you have to keep a close eye that payments aren’t fraudulent.
With Free Merchant Terminal, keeping track of these payments is easy. Leave the fraud detection to Free Merchant Terminal and focus on your business.