In the world of Canadian property management, chasing rent payments can feel like a never-ending headache. Late fees, bounced cheques, and endless reminders eat into your time and profits.
Setting up automated rent payments is game changer that’s transforming how landlords and property managers handle rent collection. With tools like those from StreamlineLS, you can set it and forget it, ensuring steady cash flow without the headache.
How do we help set up automated rent payments?
Using the StreamlineLS platform, you’re able to add all of your Properties, Tenants, and Rental Agreement information. From there, you can create a monthly rent payment that will automatically collect the funds from your tenant’s bank account and transfer it to yours.
It doesn’t matter if you’re a professional property manager or a solo landlord, if you have one unit or a thousand.
This is a seamless system where tenants authorize recurring debits from their bank accounts. In Canada, this leverages pre-authorized debit (PADs) and is compliant with Payments Canada regulations.
No more manual invoicing or awkward follow-ups. Payments hit your account like clockwork.
What are the Benefits?
First, time savings: Automation frees you from administrative tasks, letting you focus on growing your portfolio. Landlords using automated systems reduce collection time by up to 80%.
Second, fewer late payments: Built-in reminders (email and SMS) and automatic payment cut delinquencies by 50%, per industry reports.
Third, enhanced security and compliance: Encrypted transactions protect sensitive data, aligning with Canadian privacy laws like PIPEDA.
At StreamlineLS, our property management platform takes automated rent payments to the next level. Tailored for Canadian users, it integrates effortless setup, real-time tracking, and alerts to help everyone stay on top of things.
Whether you’re managing a single condo in Toronto or a multi-unit in Vancouver, our automated rent payment platform takes work off of your plate.
Ready to automate? Sign up for a free trial at account here and experience the future of rent collection.
Need to talk to someone first? Book a free consultation meeting here.