Collect Rent Online in 5 Easy Steps (2024)

When you can do most things online, collecting rent using cash or checks not only feels out of date — it can also be a challenge for landlords. Payments can be late or get lost in the mail, and sometimes even require meeting with your tenant in person. Online rent collection makes it easy to accept payments on time without all the hassle.

Your tenants probably want paying rent to be easier too. According to the Zillow Group Consumer Housing Trends Report 2019, 57% of renters would like to pay online, but only 38% are given the option. With Zillow Rental Manager, tenants can pay rent directly from their bank account or with a credit or debit card, and rent payments are deposited directly.

How to collect rent from tenants

Zillow’s online rent payment service is quick to set up and easy to use. To start collecting rent from tenants, create a Zillow Rental Manager account, then follow these five steps to collect rent online:

1. Select your property

Select the property you’d like to set online rent payments for in your Zillow Rental Manager dashboard, or click Add a property if you don’t already have one listed.

2. Click “Start collecting rent”

Under Payments, click the button labeled Start collecting rent to set up the first payment between you and your tenant.

3. Enter monthly payment amount and due date

Set the terms of the payment duration for your tenant. Payment durations range from 1 to 12 months or month-to-month (which has no end date). Typically, rent payments are due on the first of the month.

Did you know? According to the Zillow Group Consumer Housing Trends Report 2019, the median U.S. monthly rent is $1,067.

4. Link your bank account

Choose the bank account where you want rent payments deposited. When linking your account, you will be asked to provide your bank information and verify your identity. Most major banks are supported through the Link to my bank account button in the payment setup process, but if your bank is not supported, you can manually enter your account number and your bank’s routing number to directly deposit rent payments into your account.

5. Invite your tenants to pay rent online

You can let your tenants know they can pay rent online with an email that makes it easy for them to get set up. Note: The system cannot split payments, so if you have renters with roommates, they must choose one person to submit the full payment.

For more information about the tenant experience with online rent payments, see the renter FAQ.

Why online rent collection is more convenient

Waiting for checks by mail, or having tenants drop cash in a drop-box, can result in late payments — and if the money gets lost, you’re faced with a world of complications. Online rent collection is more convenient for landlords and tenants, because it allows you to:

Accept multiple payment methods

Tenants can pay rent three ways:

• with their Visa, Mastercard or Discover credit card for a 2.95% fee
• with their debit card for a $9.95 fee
• directly from their bank account for free, using an automated clearing house (ACH)

Reduce the risk of late payments and fees

Tenants can make a rent payment on demand or set up recurring monthly payments to reduce the likelihood of accruing alate fee if they forget to pay rent. This makes rent payments convenient for them and ensures you collect rent on time each month.

Provide real-time visibility into a payment’s status

Your payment dashboard allows you to see when payments have been initiated and completed, and which are past due. Once your renter initiates a payment, it takes two to five business days to complete, depending on what payment method your renter uses. Plus, if you own multiple rental properties, you can check the details and payment status for each property individually.

Offer rent payment security

Even though many of us make payments online, tenants may be sensitive about paying rent online, and everyone has their own way of managing their finances and security concerns. Zillow Online Rent Payment service uses experienced processors, Stripe™ and Plaid™, for rent payment processing, which means we do not store your bank information. We also continually review and update our practices to keep you and your tenant’s information safe.

For information about how our third-party payment processors store and use your financial information, see our Rental User Terms.

Streamline the payment process

Not only can you collect rent payments online, Zillow Rental Manager‘s online payment service also allows you to set up utility payments and security deposits. Under the Payments tab, click on Request a one-time payment. After you fill in the information, we’ll notify your renter about the request and the amount so they can take care of the payment.

For more information about online rent collection, see the FAQ.