If you're still collecting rent with checks, Venmo, or Zelle, you're making more work for yourself than you need to. Online rent collection gives you automatic records, late fee tracking, and less time chasing tenants.
Here's how to set it up, what it costs, and what to watch out for.
This is the simplest starting point. Your tenant sends you money through an app you both already have.
Pros: Free, tenants already know how to use them, instant (Zelle) or fast (Venmo) transfers.
Cons: No record of what the payment is for. No late fee tracking. No integration with tax prep. No payment reminders. Hard to prove a payment was specifically for rent. Venmo and Zelle have limits that may not work for higher rents. No paper trail that an accountant would accept.
Best for: One tenant, low rent, informal arrangement.
Dedicated rent collection tools like AnyRentCloud, TurboTenant, or Avail are built specifically for landlord-tenant payments.
Pros: Payment records tied to leases. Late fee automation. ACH and card support. Tax-ready records. Professional.
Cons: Some charge monthly fees. Some charge tenants fees. There's a setup step.
Best for: Any landlord with 1+ tenants who wants proper records.
Platforms like Buildium, AppFolio, or AnyRentCloud combine rent collection with tenant management, expense tracking, and more.
Pros: Everything in one place. Financial reporting. Lease management. Maintenance tracking.
Cons: Some are expensive ($55-$298/month). Can be overkill if you only need rent collection.
Best for: Landlords with multiple properties who want a complete system. (AnyRentCloud does this for $0/month.)
For most small landlords, a platform that handles rent collection plus basic property management is the sweet spot. You want: online payments, automatic late fees, and payment history you can use for taxes.
Enter your property addresses, unit details, lease terms (rent amount, due date, lease dates), and tenant contact info. Most platforms make this a 10-minute process.
Link the bank account where you want rent deposited. This is also where you should link accounts for expense tracking if your platform supports it (AnyRentCloud does this via Stripe Financial Connections).
With AnyRentCloud, each tenant gets a unique payment link via text or email. They don't need to download an app or create an account. They just click the link, choose their payment method, and pay. With other platforms, tenants may need to create a portal account.
Configure your grace period, late fee amount (flat or percentage), and whether fees recur daily/weekly. Make sure your late fee amounts comply with your state's late fee laws.
Most platforms can send automatic reminders before rent is due and alerts when it's late. This alone eliminates most late payments.
| Method | Typical Fee | AnyRentCloud Fee | Who Pays |
|---|---|---|---|
| ACH / Bank Transfer | $1-3 per transaction | 1.25% (capped at $5) | Landlord |
| Credit/Debit Card | 2.5-3.5% | 2.9% + 30c | Configurable |
| Apple Pay / Google Pay | Same as card | Same as card | Configurable |
| Venmo / Zelle | Free | N/A | N/A |
Most tenants prefer paying online once they try it. Here's how to make the switch smooth:
Start collecting rent online in 10 minutes.