5 Notable Apps for Collecting Rent & Other Property-Related Payments

Naturally, we feel that Bixby is the best tenant communication and payments app on the market, But we do keep an eye on our peers to make sure we're giving users everything they need...

Here are some other solutions out there and a bit on how they differ (In alphabetical order).


Bixby

Shameless Plug: Alright, admittedly we are biased, but we really do believe Bixby is the best property management tool out there. Specific to payments, we've got all of the features you'd expect: rent & common charge payments via debit/credit card or ACH via linked bank account, one-time payments, auto-payments, rent-splitting, and convenient payment history record keeping. We even automate checks from tenants' bank accounts when owners/managers aren't ready for direct deposit. AND we're the only platform where you can integrate any of the payment products featured below into the Bixby experience with just a few clicks.

Outside of payments, we also offer a useful communications feature, maintenance request and work-order management tools, as well as a handful of on-demand home services available through the Bixby platform, ranging from locksmiths to plumbers, something nobody else on the market currently offers.

Bixby is also exceedingly flexible: pay for the features you want, leave out the rest. Messages, Maintenance Requests, and Payments are always free to use. Sign up today at www.livebixby.co or using the mobile app available for iOS and Android.

 

ClickPay

ClickPay is one of the more complete solutions available today. Payments can be done by card or by linked bank account, and ClickPay maintains flexibility for splitting rent, one-time charges & fees, auto-invoicing, auto-payments, and other features considered "standard" for today's resident. They standout by providing integrations with other third-party property management and accounting softwares and for their lockbox service, which deposits paper checks on behalf of owners & managers.

While managers laud the products and services provided, ClickPay fees can be meaningful depending on the tenant's form of payment. Like the other solutions on the market, their percentage-based fee structure on credit / debit card payments means that fees can rack up quickly (e.g. a 3% credit card fee translates to $60 on a $2,000 rent payment).  Managers can, however, cover these costs or to pass them along to tenants at their discretion.

 

Cozy

Cozy is another notable player in the online rental payments space with a robust product offering. The team there recently raised $8.5 million in funding from the who's-who in venture capital: groups like American Family Ventures, Social Capital, and General Catalyst, among others. Mangers that use Cozy tend to be of a smaller scale -- they target managers with 20 units or less. 

While Cozy offers all of the same standard payment features, their integration with third-party property management and accounting software is limited to payments data; managers cannot sync up the expenses side of their business currently with the base product. Cozy is also dipping its toes into paper check functionality and is currently beta testing this offering for a select group of users. Cozy does not currently offer automated invoicing functionality and struggles with the same high percentage-based fees for payments made with credit and debit cards (which is the case across the industry). Unrelated to payments, Cozy does not offer other property management tools such as communications or maintenance management, so managers often need to pair Cozy's payment solution with other property management technology to round out their tech-based operations suite. 

That said, Cozy sets itself apart from its peers with its robust apartment marketing services (vacancy listings, syndication, etc.) and application & screening services (for an additional $25-40 fee, paid by the applicant rather than landlord). 

 

RentCafe

RentCafe is a part of the broader Yardi family of property management solutions, targeting the various tiers of the market and managers small and large. Given it is under the Yardi umbrella, RentCafe is fully integrated with the company's various offerings such as Voyager and RentCafe CRM.  

Like Cozy, RentCafe differentiates itself through a robust online marketing product, including vacancy listing & syndication; applications, screening & lease management; etc., as well as broader operational tools like communications and maintenance management. This means managers do not have to pair RentCafe with other property management technologies to keep their buildings running smoothly. That said, users indicate that the mobile user experience on RentCafe leaves something to be desired, with past log-in and payment functionality issues, which should be addressed in more recent versions. Overall, online reviews tend to be in the 2- to 3-star range, though their marketing services have received much stronger feedback.

 

RentShare

Like the other rent payment product providers listed here, RentShare offers a well-rounded portfolio of payments features in line with the rest of the industry. It is backed by i3 Verticals -- a payments technology company that facilitates $4B in transactions annually -- so you can be confident in its technology, and especially its security. The product is designed for managers of any size, "whether you’re managing rent for 10,000 units or just one."

RentShare has an easy and streamlined sign-up process and boasts a positive universe of user reviews, despite a few technology bugs along the way and similar payment issues as most players: high credit and debit card fees and long collection wait times. It does, however, lack other helpful property management tools like communications, maintenance management, vacancy listing, etc., and their payments feature is not setup to offer paper checks, automated invoices, and only provides more fulsome software integration by request and for additional fees (though reports are exportable to Excel and it is QuickBooks compatible off-the-shelf).

 

Conclusion:

When talking about payment platforms, there are plenty to choose from and they all have their own strengths and weaknesses. Contact me at dave@livebixby.co if you have any questions and i'm happy to discuss your options. Just remember that Bixby is the best one and you can't go wrong! :-)