HERO PM is proud to introduce our new online payment system, which encompasses both our Standard and Pre-Authorized payment solutions.
With the Standard payment solution, tenants can setup automatic recurring payments for the entirety of their lease, without needing to log in to their account each month to process their payments. This solution costs 2.9% + $0.30 per transaction (per PayPal; payable by the property manager). With the Standard payment system, you can also allow tenants and guests to make one-time rent payments of their amount due, owners to pay one-time payments of any amount, and applicants to pay their online application fees. You can add a convenience fee for the use of the Standard payment solution, which is added to the tenant’s, owner’s or applicant’s amount due.
The new Pre-Authorized payment solution allows tenants to setup pre-authorized payments for the entirety of their lease, for only $0.50 per transaction (per PayPal; payable by the property manager). Tenants will log in to their online account each month to quickly and easily process their payment. Or, with tenant’s permission, you can process their payment in your Control Panel directly, in RP Management > Payments > Process Pre-approved Payments. You can add a convenience fee for the use of the Pre-Authorized payment solution, which is added to the tenant’s amount due.
The seamless integration of the HERO Payments system into the HERO PM RP Management system creates a completely unified system. One logon, all the tools you need in one place, integrated with each other. It’s that easy.
What are the benefits of the HERO Payments system?
- It’s Cost Effective.
- The Pre-Authorized payment solution via ACH costs only $0.50 per transaction (fee charged to property manager), which is the lowest averaged payment cost anywhere.
- The Standard payment solution via credit card or electronic funds transfer has competitive and reasonable transaction processing fees (fee charged to property manager).
- There are no setup fees, no monthly fees and no hidden fees associated with the HERO Payments system. It is included in the RP Management system.
- Using the HERO Payments system, you can reduce delinquencies and collection challenges, and reduce paper check processing time and cost…saving you (and your client!) time and money.
- It’s Convenient.
- The HERO Payments system is seamlessly integrated into the RP Management system. One logon, all the tools you need in one place, integrated with each other.
- You can configure the HERO Payments system in your Control Panel, lookup payments, process payments, export payments to a lockbox file and more, all through your RP Management system.
- Clients can conveniently pay online from anywhere, or “set it and forget it”, avoiding late fees, and giving them the convenience of paying their rent online, just as they pay their other bills.
- Owners, tenants and applicants can make one-time payments using the Standard solution.
- You can free your staff from chasing rent payments each month.
- You can instantly turn payments off or on manually at any time, freeing yourself from the headaches related to terminations or evictions.
- With tenants’ authorization, you can process the pre-authorized payments each month in your Control Panel.
- You, and your tenant, can easily track all payments made.
- It’s Secure.
- The HERO Payments system utilizes PayPal to process online payments. This results in the most comprehensive security and fraud protection available for you, and your clients, with the utmost protection from liability.
- The HERO Payments system protects the privacy of its users. When clients make payments through the HERO PM interface, you never see their bank account or credit card information.
- PayPal’s state-of-the-art fraud models and proprietary fraud engine work together to help stop fraudulent transactions before they happen. In addition, PayPal stays at the forefront of security, developing many anti-fraud technologies every year.
- PayPal processes billions of dollars in payments each year, allowing continual improvements of anti-fraud protection. As a result, PayPal’s loss rate is significantly lower than the industry average. PayPal also works with federal law enforcement to catch criminals.
- Clients’ confidential payment transactions are automatically encrypted in transit using the Secure Sockets Layer protocol (SSL) with the highest level of encryption.
- Once clients’ information reaches the PayPal site, it resides on a server that is heavily guarded both physically and electronically.
- It’s Trust Accounting Compliant.
- Fully qualified trust accounting ensures all transactions are properly handled. You and your clients can be assured that financial transactions and records will always be accurate, always detail each transaction fully, and provide a complete audit trail.
- Trust account funds can be tracked separately from other funds in accordance with the Real Estate Commissions rules prohibiting “co-mingling” of funds.
- The HERO Payments system provides the assurance, security and comfort needed in today’s marketplace.
The HERO Payments system is included with HERO PM’s RP Management system. If you are not currently a HERO PM user, please sign up for your free launch account where you will be able to explore all of the HERO PM systems.
If you are a HERO PM user, but do not currently benefit from the RP Management system, please contact us. We’d love to discuss your account options and help your business fully benefit from our systems.