Transforming The Way Landlords and Tenants Process Transactions

Real Estate News Article

< Back

Transforming The Way Landlords and Tenants Process Transactions

by Rey Pasinli
Friday, July 26, 2013

Best of all, these payments can be made from a smartphone, laptop or tablet: the union between finance and innovation is thus genuine, offering added speed, reliability and confirmation governing these deals. The challenge, however, rests with finding the right merchant services company that can offer landlords and building owners the flexibility and security necessary to process these payments from potentially tens of thousands of people throughout a particular city or nationwide. Without that partner, the real estate industry cannot make mobile payments the new standard it deserves to be.

I write these words from experience, where, in my role on behalf of a merchant services provider, I understand the requirements related to, say, meeting business goals, expansion and measurable results. It is, therefore, essential to have credibility in the marketplace and a thorough understanding of the mechanics governing a particular industry. For building owners, which may include managers of multi-family apartment complexes or office parks, there should be - indeed, there must be - a premium on working with a trusted technology company. The alternative, which is neither practical nor necessarily affordable, is to select an inexperienced brand that has little knowledge of the use of online payments and secure transactions.

This latter point deserves added attention because, in an environment where e-commerce is the principal means by which we buy, sell and advertise goods and services, there is no room for a learning curve or on-the-job training. Meaning: merchant services and credit card processing require the expertise, infrastructure and availability of proven leaders. Any compromise in service - even a temporary (albeit minor) disruption of payment confirmation - can forever ruin a company's reputation and ability to work with building owners, tenants and property managers. The principle at stake here is simple: a sincere merchant services provider can easily handle credit and debit card payments. More importantly, that same provider should customize solutions for each client.

Of more recent interest, and as further proof of this opportunity, a recent class action lawsuit involving Visa and MasterCard allows merchants or landlords to add a surcharge for accepting credit cards. This fact is important because credit card fees can consume at least three-percent of each rental payment. That cost can now be legally passed on to tenants. And, since MasterCard recognizes this field as an emerging market, the company now offers rates that are fifty-percent cheaper than standard rates. Also, electronic checks - which cost pennies to process - can fully automate charging fees to tenants who bounce checks. Those fees help to recoup administrative and overhead costs. All of these things can be integrated online, with mobile and telephone payments to simplify operations while increasing collection rates.

In my experience, credit and debit card processing will remove much of the paperwork and personal frustration that continues to plague the real estate industry. The subsequent goodwill among all parties will produce greater customer satisfaction, increased likelihood of lease renewals, client referrals and an overall sense of satisfaction that no amount of conventional marketing can match. And therein lies the true power of working with an established merchant services provider: trust, the confidence in knowing there is a foundation of support - at any hour, during any day of the week - to answer any questions, resolve any issues and process transactions with speed and consistency.

These advantages will make the real estate industry more efficient and competitive. But again, those rewards come from selecting the right merchant services provider. With that partner, landlords and tenants can prosper and enjoy the peace of mind they deserve. Let us make this goal a top priority for everyone.

As the Executive Director of Total-Apps, Rey Pasinli enjoys a wealth of experience, insight and credibility involving thousands (over 7,000) of Internet business campaigns. With additional expertise in safeguarding clients from online fraud and security breaches, Rey has a proven reputation for identifying - and transforming - emerging brands that need the resources, responsiveness and customized solutions available exclusively from Total-Apps.




Copyright© 2017 Realty Times®. All Rights Reserved

Updated: Tuesday, September 19, 2017

HOA Meeting Basics...
HOA board meetings are designed to transact essential business. They should be carefully cho...

No Pets Allowed: What About A ...
Your condominium rules prohibit pets of any kind except fish and birds. A unit owner asks th...

9 Marketing Mistakes Agents Do...
Whether you run a large business or youre a one man show, its important to have a strong mar...

Copyright ©2017Realty Times®. All Rights Reserved

Housing Rebound: Factors to Consider
In Miami we have had an incredible year of growth with an ever shrinking supply of condos...

Hoteliers Buy Versace Mansion at Auction
Gindi Family and Nakash Family of New York were the winners of the auction for Casa Casuarina...

Stunning Estate for Sale on Allison Island
Allison Island is one of the man made islands comprising Miami Beach. One half of the island...

Avant Garde and Luxurious Penthouse on Fisher Island
Fisher Island is home to some of the highest net worth individuals in Miami. It is a private...

6000 Indian Creek, Condominium Spotlight
6000 Indian Creek is a Sieger Suarez project that was completed in 2007 and consists of...

$35 Million Buys you THIS on Star Island
$35 Million for a home on Star Island is par for the course in Miami Beach real estate....

Development Update
It is looking like a dusty winter season in Miami, with all the construction rapidly underway,...

North Bay Road Charm, 4330 North Bay Road
4330 North Bay Road is a stunning example of Mediterranean architecture in Miami Beach....

Best Home Improvements for Resale Value
It could not be a better time for a homeowner to list their home for sale in Miami. The...

Biscayne Gets a New Development
The Melo Group of developers acquired 601 NE 23rd St last year and have conceived of 23...

520 West Ave Residence 2301
520 West Avenue is home of the Bentley Bay. Bentley Bay is comprised of two modern towers...

Spice 2013, Guide 101
Miami Spice is a program whereby most of the restaurants in the city encourage people to...

Hollywood has a New Hotel
Margaritaville Hollywood is coming to Hollywood Beach and is likely to completely alter...

Sustainable Waterfront Home on Normandy Isle, 1.85 Million
Rarely on the market do we find completely sustainable, off the grid, homes in Miami Beach....

Housing Inventory on the Rise at the Close of Summer
The Wallstreet Journal released numbers via Realtor.com regarding the inventory of available...

Warm Spanish Style Home Listed on the Sunset Islands
1844 W. 23rd Street is listed on the Miami Beach luxury real estate marketplace for $11...

Former Gansevoort Getting Complete Eco-Renovation
Last year the Perry Hotel, formerly the Gansevoort, was purchased for $230 million. The...

Affordable Luxury Waterfront on Hibiscus Island
A home that is considered affordable in Miami terms for waterfront is generally between...

Bart Reines New Masterpiece Released on the Market
Bart Reines is one of the worlds most impressive modern architects living, and he has just...

New Listing on La Gorce Island
98 La Gorce Court has just been listed for sale. This over 7800 square foot home with 8...