Rental Collection: Azibo's Ultimate Online Solution
As a landlord, you're familiar with the headache of rent collection. The waiting, the varied payment methods, multiple banks, the endless bookkeeping - it's a significant challenge in managing rental properties.
Imagine a world where rent collection is no longer a chore but a seamless part of your day. This is where Azibo steps in - a dedicated online rent collection platform that revolutionizes how many landlords manage their properties.
With Azibo, the struggles of traditional rent collection methods become a thing of the past. Forget the uncertainty of checks in the mail, the limitations of platforms like Zelle, or the juggling of your multiple accounts and payments. Azibo offers an all-in-one solution that not only simplifies rent collection but transforms it into an opportunity to save precious time and optimize your real estate portfolio.
In this article, we'll discuss the features of Azibo's rent collection service, share real-world success stories from satisfied rental property owners, and guide you step-by-step on how to effortlessly integrate Azibo into your rental management strategy.
Azibo rent collection: An overview
Azibo was designed to alleviate the stress of collecting rent every month, allowing real estate investors to manage their properties, tenants, and payments in one place.
Our platform streamlines monthly rent collection with secure, flexible payments and fast payouts. Landlords can use one platform to accept multiple online payment methods including credit card, debit card, and ACH bank transfer — as well as checks via mobile deposit.
Jua McMillan, a Chicago-based real estate investor and Azibo customer, found that by eliminating the need to coordinate with tenants, set up their payment methods, and track Venmo transactions, Azibo saves him four hours per month. “I can't say anything but positive things about Azibo,” he notes. “It's been a lifesaver.”
Landlords are able to access all of these tools at no cost, since Azibo’s core offerings are free. That means rental property managers and owners don’t have to sacrifice their profit margins to use our property management platform.
What’s included in when you collect rent online with Azibo?
With Azibo online rent collection, you get access to the following features:
- Online rent collection: Streamline your rental businiess and collect rent online with our platform, offering fast payouts.
- Flexible payment methods: Securely accept multiple payment methods, including credit card, debit card, ACH bank transfer, and check.
- Rent dashboard: View real-time rent payment status for tenants across all properties.
- Automatic reminders: Automate key tenant communications, such as rent reminders and late fee notices.
- Integrated property management: Get access to Azibo’s all-in-one rental property platform, with solutions for every part of the rental cycle, including a dedicated portal to track maintenance requests and messages.
How Azibo solves the biggest pain points of rent collection
With Azibo, landlords and tenants can enjoy a seamless online rent collection experience. Here are the key benefits of using Azibo to collect and pay rent online:
1. Save time
Azibo helps real estate investors spend less time coordinating with tenants and tracking rent payments. Steven Toth, a Tempe, Arizona-based real estate investor, says Azibo saves him between 5-9 hours every month.
“I just log into Azibo a few times per month, take a quick look, make sure my transactions are all set correctly, then I’m done,” Steven says. “It really saves me a lot of time.”
2. Simplify record-keeping
Collecting online rent payments on a single platform is not only convenient, but helps simplify the administrative side of real estate investing. Azibo provides a clear record of payments from all tenants and properties in one place — including a real-time rent payment status dashboard so you can instantly see who paid and who hasn’t.
Landlords who currently collect rent on Venmo, PayPal, or other mobile payment platforms are likely frustrated by transaction limits, additional fees, and the added complexity during tax season. "Before Azibo, I was taking payments on Cash App, Venmo, PayPal, and checks," real estate investor Andrew Winter explains. "Now Azibo is the one source of truth for all payments, which makes things easier."
3. Improve profit margins
Real estate investors are able to access all of these features — plus Azibo’s other property management solutions — at no cost, since Azibo’s core offerings are free. That means that unlike other property management platforms, you don’t have to pay a subscription fee and sacrifice your profit margins.
4. Offer flexibility to pay rent for tenants
Azibo allows landlords to let tenants choose their preferred payment method — whether it’s ACH transfer, credit or debit card, or check — and receive money without having to track multiple channels. "The rent collection is nice, especially the ability to give the tenant the decision on how they'd like to pay," explains Andrew. "I've been asked if I take credit card payments before, and now I can say, 'Absolutely.'"
Tenants also may want to pay on different days of the month, depending on their move-in date or when they receive their paychecks. Azibo enables landlords to offer this flexibility without having to manually track each rent deadline. “I like that I'm able to provide that flexibility to tenants and still have it automatically tracked through Azibo,” Steven notes.
Azibo sends automatic rent reminders to tenants via email or text, rather than landlords having to do that themselves. “It's taken away the need to always have to reach out to my tenants to pay rent,” Jua says.
Azibo notifies landlords when tenants make a rent payment. These automations increase transparency and accountability for both parties by documenting their communications. Jua notes, “I love the fact that it's automated. You can pretty much set it and forget it until it's time to renew the lease.”
Azibo also helps encourage on-time payments by allowing tenants to schedule payments in advance, and landlords to set up automatic late payments and fees with customizable grace periods, or accept partial payments.
6. Get all-in-one property management
In addition to the ability to collect rent, Azibo customers get access to property management solutions for each stage of the rental cycle — including rental applications, screen prospective tenants, lease generation, accounting, property insurance, streamlined maintenance and communication, and more.
"It's nice that it's all in one system,” Andrew says. “That's really the kind of power you can have with Azibo."
7. Stay safe and secure
At Azibo, your data privacy and security is paramount. Our state-of-the-art, bank-level security means your personal information will never fall into the wrong hands. Azibo is built on the same secure payments platform used by Amazon, DocuSign, and Lyft.
A step-by-step guide to Azibo's online rent collection
We’ve designed the Azibo onboarding process to be straightforward and hassle-free. Jua agrees: “I just like the simplicity. I was able to get started without a strenuous setup.”
Here are the steps to start collecting rent with Azibo:
- Create your free account: Sign up for Azibo using your name, email, and mobile phone. If you have a business name or DBA, you can add that later.
- Add your rental properties: Input your property details and organize them into portfolios.
- Link a bank account: Choose where you want payments to go, either in an external bank account or by creating an Azibo bank account. You can set up multiple bank accounts to receive rent from different properties.
- Verify your bank account: At Azibo, security and safety is a top priority. Every customer must verify their identity before transacting on the Azibo platform.
- Set up payment terms: Enter your payment terms, including your lease start and end dates, rent amount, rent due date, and any fees.
- Invite tenants to Azibo: Add tenant details and invite them to create an Azibo account so they can start paying rent on Azibo.
Once you and your tenants successfully set up Azibo accounts, you the landlord can start collecting rent online. You can also use Azibo to track rent payment status, better understand your financial performance, and tag expenses to simplify tax prep.
How is the Azibo rent payments experience for tenants?
Tenants can start paying rent with Azibo in a few simple steps. First, landlords invite their tenants to create a free Azibo account.
Next, tenants will confirm their lease and payment terms are correct and set up their payment method. Tenants can link their bank account to pay rent via ACH transfers for free, or add their debit or credit card to pay rent for a 2.99% fee.
When they’re ready to pay rent, tenants will go to the Azibo dashboard, select “Pay,” and confirm the payment amount is correct. Azibo renters can automate rent payments by scheduling one-time or recurring payments in advance.
Once they’ve submitted their payment, renters can track the real-time status in Azibo, as well as view upcoming scheduled payments and payment history.
Lastly, one of Azibo’s differentiators is the value we provide to tenants. In addition to flexible online payment methods, we provide access to comprehensive renters insurance and offer a credit boost service to reward on-time renters which can help to improve their credit score.
What is the best way to collect rent?
Azibo offers a simple, effective solution for managing rental properties. Our platform combines tenant screening, lease management, and rent collection into one easy-to-use system.
With Azibo, landlords can efficiently screen tenants, create compliant leases, and collect rent through various payment methods. Additionally, Azibo provides essential financial management tools and competitive property insurance options, all at no additional cost to property owners.
Experience the practicality of our all-in-one property management platform and see how it can streamline your real estate investments. Learn more about how Azibo can support your property management needs today.