As a property management software company, you provide a solution that simplifies the complex operational needs that property managers face on a daily basis, but what about payment acceptance and payment processing? Property managers can spend up to 20% of any given week on payment-related activities. Many property management software companies do not have the necessary tools to automatically underwrite and onboard landlords, process ACH payments, transparent reporting, or provide flexible payouts. Give property managers the ease of processing and facilitating payments through your software, so they can focus on what’s most important for them – their properties and their renters.
Amaryllis Payment Solutions has the perfect solution for your payment processing needs as a property management software company. This article will cover how property management companies can benefit from using a payment facilitation solution.
Benefits of Payment Processing for Property Management
Property management companies and landlords alike want quick, seamless transactions for their financial needs. With payment processing from Amaryllis Payment Solutions, it is convenient for property management companies to accept ACH payments and automate the underwriting and onboarding process of landlords and their properties. You can also pay suppliers and facilitate payments to service providers, such as plumbers and electricians, directly from the platform.
Avoid being charged multiple fees with our aggregated payout system. Payouts to landlords who own multiple properties can be aggregated into a single transaction so they can save money on transaction fees. Amaryllis also offers flexible payout options with the ability to define payout schedules for each property and aggregation periods. Manage, approve, and perform payouts in a controlled, role-based environment. Payouts can be configured for automatic processing or require manual approvals.
If your property management company is global or going global, you will need to work with multiple payment processors and process in different currencies. Amaryllis works with any processor anywhere in the world and offers multi-currency support so you can process transactions in any geography.
How Renters Can Benefit From Payment Processing Solutions
Most renters want an easy way to pay their rent without complications. It’s important to offer renters an autopay feature so payment is never missed and renters not only feel that peace of mind, but it also ensures that their payments will be made on time. Automatic payments will align with the recurring bill cycle, which should eliminate the stress of potentially missing a bill payment due date. Avoid writing checks and paying additional fees for security deposits and reserves. Renters have the ability to manage and hold security deposits and reserves directly on their dashboard. With Amaryllis developer-friendly API, you can build tools for your specific needs and sync them with your software solution.
Innovation
The property management space is growing. Although COVID-19 has made unpredictable changes for the housing market, property management software companies have noticed a positive demand across all regions. According to Fortune Business Insights, the market is expected to grow from $15 billion in 2021 to $28 billion in 2028. Property management companies want a payment processing system that works seamlessly with their platform. Many companies are working towards building a system that facilitates payments for services providers, such as plumbers and electricians, directly from the platform. This feature gives owners and renters the ease of finding a recommended service provider, handling the scheduling, and processing the payment all within the platform.
Software companies are also building insurance portals that will ensure renters have insurance and hold security deposits. Owners and renters could purchase and manage insurance policies directly through the software solution. Renters can receive their guaranteed amount back from landlords which can all be processed through the platform. Security deposits being held within the platform is another feature that gives peace of mind to property managers and renters. Landlords can deduct money directly through the platform if there are any issues after moving out.
Next Steps
There are many benefits to becoming a payment facilitator for property management software and SaaS companies. As a payment facilitator, you can automate underwriting and onboarding landlords, accept ACH payments, provide flexible payouts, and much more. Amaryllis Payment Solutions can provide your business with the right tools to become a payment facilitator and process payments effortlessly with little or no IT resources.