Update: This post has been updated with new scoring and winners based on changes or upgrades to some of the products and services. We have also included new products that have come to our attention since the last update. Read on to see our winners for the best online rent payment service for 2022:
Property management software can be a useful tool for small and independent landlords to effectively run their businesses. We have written overviews of several top software products that offer solutions for a variety of standard property management tasks from advertising and applications to tenant screening, lease signing and rent collection. Here we compare how each of them handle online rent payment from a landlord’s perspective. We compare them across a variety of factors and then determine the best online rent payment service for small landlords.
The Best Online Rent Payment Service
These are our winners for the best online rent payment service. Read below for complete criteria and scores:
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Best Online Rent Payment Service: Overall
PayRent is a product that focuses solely on online rent payment for landlords like us. With multiple plans starting at $0/month, landlords have access to a low-cost solution for collecting rent payments. Choose to pass-through transaction fees to your tenants, and your rent payment fees are $0 forever. Tenants will also receive rent reminders and can schedule automated payments in advance, helping to ensure on-time rent collection every month.
Additionally, PayRent offers a RentDefense feature with their paid packages: Payment controls and rent collection enforcement that help you collect rent with less hassle and stress that virtually eliminates late and lost rent. Landlords can also upgrade to a premium plan that promises just 1-day payment holds and free bank transfers.
If what you need is fast, secure, reliable online rent collection, PayRent is our winner for you. It is our Overall winner for the Best Online Rent Payment Service.
- With no subscription plan and a simple pricing structure, PayRent helps property owners and managers collect rent online safely, reliably and automatically.
- Strength: Rent Collection
Best Online Rent Payment Service: Property Management Software
Avail is our winner for the best online rent payment in the property management software category. With next day FastPay ACH transfers included for Unlimited Plus subscribers and 2-day deposit times for all others, Avail offers a fast and convenient rent payment service. Furthermore, landlords do not need to be a paid subscriber to access Avail’s online rent payment service. Also at $2.50 per transfer that your tenant can pay, a landlord has the opportunity to collect rent at no additional cost.
What makes Avail a winner is their best in class property management software solution. In addition to online rent collection features, a subscription to Avail gives you a complete set of tools, guidance, and educational content you need to be a confident and professional landlord.
- Advertise your property, find and screen tenants, sign leases, collect rent, and e-sign custom local leases, with tools built specifically for DIY landlords.
- Strength: Complete Solution
Best Hybrid Property Management Platform:
Hemlane is a property management platform that helps property owners manage their rentals wherever they are. It is a cross between DIY and full service management that automates day-to-day administration, from advertising vacant properties to collecting rent and late fees. Because of its flexibility for landlords to choose how much control of the day-to-day operations of their rentals they retain, Hemlane is our winner for the best online rent payment service: hybrid property management platform.
For landlords who want complete freedom from the daily operations of their rentals, Hemlane can help you connect with local, in-person leasing agents and 24/7 repair coordination with local service professionals. You can also choose to maintain 100% control and automation with Hemlane’s all-in-one online platform for leasing and management. Or select something in between where you have access to Hemlane’s software plus repair coordination to allow you to sleep through the night without being woken up with a late night emergency.
No matter which package you choose though, Hemlane offers landlords access to its robust online rent collection and financial tracking tools.
- Hemlane is a next-gen property management tool that helps property owners manage their rentals. More than simply property management software, Hemlane is a platform that bridges the gap between DIY and full service property management.
- Strength: Hybrid Full-Service Mgmt
We considered the following rental property management software products for the best online rent payment service:
The Best Online Rent Payment Service Criteria & Scores
Below, we graded each of the software providers on 5 key rent collection features on a ten point scale. We also include a bonus feature that your tenants may find useful. Click the criteria name in the table or scroll down for more details. This is how they stack up:
Video Extra – Collecting Rent Online:
Read the transcript.
We have reviewed several of the top online rent payment services that can meet the needs of independent landlords no matter the number of properties you manage. While some services are part of a property management software product that includes a variety of features, others may only offer rent collection if that is of most importance to you. We encourage you take a close look at our winners – PayRent, Avail, and Hemlane – for the best online rent payment service. You can and also see our complete product overviews to help decide which is right for you.
We have also reviewed how property management software products compare on other features. See our other winners here:
- Free Online Ways To Advertise Property For Rent
- Best Tenant Screening Service for Small Landlords
- Best Accounting Software for Landlords
- Residential Lease Agreements: Best Software for Small Landlords
- Best Free Property Management Software for Small Landlords
- Best Property Management Software for Managing Maintenance on Rental Property
Disclosure: Some of the links in this post are affiliate links and Landlord Gurus may earn a commission. Our mission remains to provide valuable resources and information that helps landlords manage their rental properties efficiently and profitably. We link to these companies and their products because of their quality, not because of the commission.