SOURCE: Pay Rent Easy

September 19, 2007 11:00 ET

PayRentEasy.com Helps Property Owners With Fast, Easy Online Rent Collection

Online Resource Also Gives Renters the Ability to Pay Rent With Credit Card or Electronic Check

SAN DIEGO, CA--(Marketwire - September 19, 2007) - Renters want to pay online, why not let them? At the same time, property managers spend hours accounting, collecting paper checks, waiting for checks to clear, and delivering late notices, oftentimes only to discover that their tenants' rent check has bounced. Now paying and collecting rent is simple and efficient -- making the lives of property managers and renters easier when the first of the month comes around -- with the launch of PayRentEasy.com.

PayRentEasy.com is designed for management companies and anyone with rental property. With features based on years of proprietary rent collection research and real-life property management experience, PayRentEasy's secure online interface provides simple management tools to expedite rent collection, and offers flexibility to renters in a variety of ways.

How it Works:

--  Property Owners and Managers visit PayRentEasy.com, a free service,
    and create their settings to match the way they usually collect rent.
    
--  The property manager can choose the methods of payments to offer their
    tenants, and who (manager or tenant) should pay the processing fee.
    
--  The information is passed through PayRentEasy's proprietary system
    allowing tenants to directly pay rent to their owner / manager's bank
    account.  Tenants can even sign in through your property's website!
    
--  Once the renter / tenant signs up, they are able to set up automatic
    payments with electronic check or credit card.
    
--  The management area is simple to use; each time a new renter signs up,
    a message is emailed to the manager to either accept or decline the renter.
    
--  PayRentEasy.com helps property owners save time from accounting by
    producing detailed receipts, reports, and late notices so they can respond
    to the matter quicker than ever before.
    
--  The end result is property owners collect rent faster, safer, and save
    time by eliminating poor excuses for why rent checks bounce.
    

"A great question other property managers always ask me is, 'Why not have my tenants pay their rent online through their bank's online bill payment system?'" said Ryan Lopez, Founder and CEO of PayRentEasy.com. "When analyzed, paying through the bank's online bill payment service actually creates more problems than paying by traditional check. Because banks have to send checks to the property manager by postal mail, renters are forced to schedule payment of their rent five or six days before the first of the month. Even after the check is deposited, the bank holds the funds for another three or four business days. PayRentEasy is by far the fastest way to clear tenant payments into your account, whether they pay with electronic check or by credit card."

Renters enjoy the benefit of paying online, gaining rewards from their credit card usage such as air miles and free merchandise. What's more exciting, online bill payment eliminates the excuse of why a check bounced.

$270 billion is spent each year on residential rent payments in the United States. According to the US Census Bureau, there are approximately 35 million renter occupied units in the United States. Those who are looking for inexpensive and easy to use solutions to make the rent collection process easier will find PayRentEasy.com their solution of choice.

ABOUT PAY RENT EASY

Pay Rent Easy was founded in 2006 and is located in San Diego, California, just north of downtown. The continued popularity of online bill payment is what fueled PayRentEasy's goal of being a resource to property owners in online rent collection. For an online demonstration, or to learn more about online rent payment and collection, visit www.payrenteasy.com.

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