The world is at your fingertips. We’ve all heard that before, but it seems most applicable when it comes to the best apps for paying rent.
These days, you can pay your rent from anywhere with just a few clicks on your phone or computer. You don’t have to worry about remembering to write a check or find a stamp. You don’t have to drive across town or make a special trip to the bank. Paying your rent has never been easier, and it’s all thanks to the technology in your pocket.
It used to be that when you wanted to pay rent, it required a check and some sort of mail service to deliver that check. Now, you can simply sign up for an app and pay rent from wherever you are in the world. It makes life so much easier and more convenient for everyone involved
Best Apps For Paying Rent
Top 5 Apps To Pay Rent Online With Credit Card in India
November 19,2021 by Nupur Saini
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Table of Contents
What are the advantages when you pay rent with a credit card?
Top Apps To Pay Your House Rent With A Credit Card
- MagicBricks
- Housing.com
- NoBroker.com
- Paytm
- CRED
In sum: Rent Payment through Credit Card
Credit cards have become the most popular choice for house rent payments in India. When you make rent payments through credit card, you can confidently make your payment on time, and that is a great power you hold in your hands. There are a lot of advantages you get when you pay rent with credit card. Landlords expect the rent to reach them before a specified time every month, and if you don’t have cash in your account at that time, it can become a problem. Credit cards, with their interest-free credit option, eliminate this problem.
Credit cards are a breather and give you up to 45 days of interest-free money. This way, you can pay on time and repay the bank once you get hold of some cash. Now, let’s learn about the advantages of paying rent with a credit card and find out the best apps to pay rent online so that your payment is never delayed.
What are the advantages when you pay rent with a credit card?
Apart from getting interest-free money, here are some other advantages of paying house rent with credit card.
Reward points – All banks that offer credit cards allocate points to you based on your monthly spending. You can avail these points to buy products, get movie tickets, or shop online in the future.
Cashback offers – Some banks and eCommerce portals go so far as to provide cashback every time you use your credit card. The cashback is directly credited into your account regularly.
Top Apps To Pay Your House Rent With A Credit Card
- MagicBricks
One of the most secure platforms to pay your monthly rent with a credit card is MagicBricks. It is one of the most convenient and best rent payment apps where the process is hassle-free and safe. Making a payment is super easy.
Step 1: Provide the rent details and your landlord’s account details.
Step 2: Use the payment gateway and pay using your credit card.
Step 3: Your landlord will receive the money in 1 working day.
Why choose MagicBricks to pay rent online?
More imperative than any feature is Security, hence MagicBricks promises 100% secured payments, and your credit card details are not stored anywhere. You will be charged a minimal payment fee of 1% if you use a VISA or a Mastercard credit card.
MagicBricks offers free rent insurance with every payment that you make. In addition, you get up to INR 1 lakh accidental death and permanent disability insurance and up to INR 5000/week for up to 2 years in case of temporary disability.
For every payment you make, you get exclusive offers from brands like Myntra, Domino’s, Bewakoof, Yoga Bar and almost 20 other top brands.
Depending on the credit card you use, you may also be eligible for instant discounts, reward points, and cashback on rent payment.
Transparency is what the company believes in and ensures that you receive a digital rent receipt automatically generated and mailed to you when you make rent payments with your credit card on the Magicbricks platform.
- Housing.com
Another popular rent payment app that you can use to pay house rent with a credit card is Housing.com. Housing’s rent payment app is powered by RazorPay. The payments are secure, and the amount gets transferred to the landlord in 1-2 days. The steps to pay your house rent are easy.
Step 1: Provide the account details of your landlord.
Step 2: Use your credit card to make the payment.
Why choose Housing to pay rent online?
Housing has partnerships with leading banks and brands, and hence, every payment of yours will receive cashback, reward points, discounts, air miles, and many more rewards. Housing charges a nominal fee of 1% for every transaction that you make.
You will get up to 3% in reward points when you use specific credit cards.
- NoBroker.com
NoBroker also makes to the list of best rent payment apps in India. You can use all major credit cards to make your house rent payment online through this app. In addition, NoBroker offers instant digital receipts for all your payments, making it easier to keep track of your rent payments.
The steps to pay your house rent are easy.
Step 1: Set up your account by providing your own details and the details of the landlord.
Step 2: Use your credit card to make payments.
Step 3: The money is credited to the owner within 2 working days.
Why choose NoBroker to pay rent online?
As a limited time offer, the website offers cashback of INR 100 or INR 1000 for every 100th user.
You will save 50% on the processing fee by inviting friends to use the app.
All transactions are eligible for cash backs, reward points, air miles, and more.
The app uses PCI-compliant gateways that are safe and secure.
- Paytm
Paytm has recently started offering the option for rent payment through credit cards on its website. The steps to make the payment are straightforward.
Step 1: Choose to deposit money to the landlord’s account or UPI ID and give the account number and IFSC code or UPI ID.
Step 2: Provide the recipient’s mobile number and proceed to pay.
Step 3: Enter the right amount and proceed to pay with your credit card.
Why choose Paytm to pay rent online?
Enjoy cashback with every transaction that you make.
Get up to 45 days of free credit period after every credit card transaction.
You can make up to 10 rent payments a month.
The transaction fee for credit card payment on PayTM is just 1%.
- CRED
Rent Pay from CRED is a new feature by CRED that helps you pay your house rent using credit cards. Apart from being an easy way of payment, CRED also offers reward points, and cashback offers to customers.
Here are the steps to make a payment on CRED Rent Pay.
Step 1: Install the app from Google Play Store or Apple App Store.
Step 2: Register yourself and set up the account.
Step 3: Click on the Rent Pay option.
Step 4: Enter the amount.
Step 5: Click on the ‘Proceed with Credit Card’ option.
Step 6: Enter details of the landlord.
Step 7: Click on Proceed with Payment.
Why choose CRED for online rent payment?
When you pay rent with a credit card on CRED, the money gets transferred in 1-2 working days, and you will also get reminders on the app when it is time to make a payment.
CRED charges a nominal fee of 1-1.5%, depending on the network you choose.
You get CRED coins and GEM rewards with every transaction, and these can be used to shop from the CRED store.
In sum: Rent Payment through Credit Card
Credit cards are safe ways to make online payments. You don’t have to worry about safety when you make rent payments through credit cards on trusted websites like MagicBricks. Such websites have 100% secure payment gateways. The minimal service charge levied by them is totally justified, thanks to the 45 days interest-free credit period you get by using your credit card. Your landlord could be in any part of the world. But paying your rent on time shouldn’t be a problem at all with these websites.
free rent payment app
Free payment apps for collecting rent online sound like an awesome idea for anyone in the rental business. Gone are the days of taking cash payments for rent or waiting on paper checks. Online rent payment apps let you accept rent payments by credit card, debit card, or ACH direct debit. You may be able to set up automatic late fees, schedule regular rental payments, or accept partial payments. So, it sounds like using online rent collection options can save you a ton of money.
What you maybe didn’t realize is that many “free” payment apps have hidden costs. Some online rent payment services charge transaction fees for credit or debit card payments. Other rental payment methods have a free trial period but are, in reality, premium plans with steep monthly costs.
A quick online search will show that there are loads of rent payment apps, all with various payment features. How can you find the top online rent payment apps that don’t cost you or your tenants a dime? This article looks at apps with free plans for collecting rent.
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How to Choose an Online Rent Payment App
Of course, if you have a large portfolio with hundreds of rental units, it could make sense to invest in a rent payment app with premium plans. These apps do more than accept online rent payments. You may get tenant screening, renters insurance, process rental applications, and accounting services to help manage your rental business. That’s fine if you’re willing to pay hundreds of dollars a month for the property management app.
However, for many landlords with a small to medium-sized rental business, paying for additional features may not be worth the cost. Usually, you need a free payment app to do the following:
Let tenants pay rent online
Bill for automatic late fee payments
Take security deposits
Give you an overview of your rental units
Manage leases
Get payment notifications
Ideally, to help keep tenants happy, you want them to pay their monthly rent without incurring any cost. After all, if a tenant has the choice of mailing a paper check for free or paying a 3% transaction fee on a debit card transaction, they may choose the cheaper option.
Why it Makes Sense to Use Rent Payment Apps
One of the reasons to look for secure rent payment options is because of identity theft and fraud. The old ways of paying monthly rent—cash payments, money orders, and paper rent checks—are not secure payment methods. Checks take days to clear in your bank account, and they contain sensitive personal data.
According to a report in the Wall Street Journal, attempted check fraud in 2018 made up 60 percent of attempted fraud against deposit accounts. The cost? $15.1 billion. Check fraud is more common than debit card fraud, even though fewer people are now using checks.
Switching to a trusted online rent payment service is better for you and your tenants. You don’t have to share bank account details, be responsible for sensitive information, and you have a secure way of collecting rent online.
rentdrop free payment app quote
The Hidden Costs of Free Payment Apps for Online Rent Collection
What are some of the hidden costs of using certain online rent collection services? Let’s look at a few popular services that charge extra fees, even though they appear free to use.
First of all, some rent payment apps with premium plans offer specific services for free. For example, paid-for property management apps often allow ACH direct deposits for free. However, you still have to pay monthly premiums, transaction fees, and additional costs for extra services. Of course, many apps offering online rental payments have a free plan. However, most users are aware that they have to start paying when the premium plan kicks in.
Here is a list of seemingly free online rent payment services that have hidden costs for some transactions.
TenantCloud
TenantCloud is a free rental management app that has some services in its basic account. The rent property management software allows landlords to manage up to 75 rental units for free. This is a great option if you have a small rental business. However, if you need to arrange for online rent collection from many rental properties, you have to pay a premium. Also, there are hidden costs for tenants if they want to pay monthly rent via PayPal.
MangeCasa
Another rental payment app that promotes free property management software is MangeCasa. Landlords can manage rental units without cost to themselves or tenants. But what is the catch? The free version of the app is only available if you have to manage up to 3 units. So, it’s not practical if you have to accept online rent payments from multiple rental properties.
PayRent
Another reliable online rent payment service is PayRent. Landlords can use this rent collection method to accept credit cards, debit cards, and e-check rent payments. The free plan includes automated rent reminders, the possibility to receive full or partial rent payments, and payment tracking. What are the hidden costs with the PayRent app? Tenants have to pay fees for bank transfer or credit card rent payments. Also, its payment processing system means that it takes three days to appear in your bank account.
Tellus
Tellus is a free-to-use payment app that includes many services for managing rental units. The mobile rental payment app includes functions for collecting rent online, maintenance requests, accounting, and listing vacant units. Landlords can use the app for free. Tenants have no hidden costs if they pay directly from their bank account. However, there is a 3% transaction fee for credit cards.
Cozy
Cozy is a free online rent payment service and property management portal. The app is free for landlords to use. However, all the hidden costs of using the rental payment services are passed on to tenants. For example, through the app, tenants have to pay up to $39.99 for screening reports. Also, credit or debit cards incur a transaction fee of 2.75%. One of the drawbacks of Cozy is that the payment processing takes five business days for rent payments to show up in your bank account. For an extra fee of $2.99 per month, rental payments can arrive in three days.
Zumper
Zumper offers online rent collection options for landlords to receive rent for free. Tenants can set up automatic rent payments to help make sure they never miss paying rent. The free payment app allows landlords to see tenants’ rent payment history, set up rent schedules, and track pending changes. Although ACH direct deposit payments are free, tenants have to pay hidden costs of 2.95% for every credit or debit card transaction.
Free Rent Payment Apps with No Hidden Fees
It’s clear that offering tenants online rent payments is a wise choice for any successful landlord. Collecting rent online helps to reduce the number of late payments and helps improve landlord-tenant relations. The majority of people—everyone from millennials to older folks—pay their bills online anyway.
But is it possible for landlords to use a free payment app for collecting rent online with no hidden costs? Our top recommendation for a free online rent payment service is RentDrop. What makes RentDrop stand out among its competitors? Are there indeed no hidden costs with RentDrop rent payment app?
Here is an overview of the benefits of RentDrop to landlords and tenants.
RentDrop — Free Payment App with No Hidden Fees
RentDrop is an excellent option if you’re looking for a free payment app because there are no fees—forever. With RentDrop, it doesn’t matter how many rental units you manage—the RentDrop services are free for landlords. What’s more, tenants don’t incur any costs at all. This service means that the rental collection process for landlords has never been more straightforward—or cheaper.
What can you expect if you start using RentDrop for free? Here is a brief overview of its features:
Online rent collection: Accept tenant payments by credit card, debit card, or ACH direct deposit. Receive payments directly into your bank account.
Automate rental management processes: RentDrop helps you receive rent payments on time, every time. Tenants can set up automated payments. As a landlord, you can set up automatic late fees and timely payment reminders. Use RentDrop to collect security deposits and manage leases.
RentDrop dashboard: The free payment app gives you a complete overview of all your rental units. You can check the occupancy or your units and the payment status of all your tenants. Notifications ensure you never miss any updates.
There is no risk involved with trying out RentDrop. Unlike other online rent payment apps, all the features of RentDrop are always free to use.
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