Late rent payments are one of the biggest headaches for property managers. In today’s economy, outdated payment methods can lead to delays and negatively impact your business. And a recent report from the Canada Mortgage and Housing Corporation (CMHC) found that overdue rent is still higher than pre-pandemic levels, showing how tough it is for many renters to stay on track.
The good news? There’s an easier way to manage rent payments. With Yardi Breeze Premier, property managers can reduce admin work, improve cash flow and give tenants a seamless payment experience.
Late rent isn’t just annoying — it’s costing you time and money
Manually tracking down rent payments takes time, effort and resources that could be better spent elsewhere. When rent is late, property managers are stuck finding the money to make mortgage, maintenance and utility payments, creating unnecessary financial strain. If a payment bounces, you could be hit with non-sufficient funds (NSF) fees — charges that can reach up to $48 per transaction and impact upwards of 34% of Canadians each year. On top of that, time spent chasing payments or processing collections is time lost on growing your business.
With over 65% of Canadians now preferring digital and automated payment methods, streamlining rent collection isn’t just about convenience, it’s about saving time, reducing admin work and improving cash flow.
Want fewer late payments? Make rent pay itself
With an automated system, rent is processed on time, every time, without you lifting a finger. Allow residents and tenants to make electronic payments through self-service tools, which reduces effort for all involved. Renters can set up pre-authorized debit card, credit card or EFT payments — whatever works best for them. With built-in payment reminders, there’s less chance of missed payments in the first place.
Automation doesn’t just make rent collection easier, it makes it more predictable. No more wondering if this month’s payments will cover next month’s expenses. Here’s what property managers gain:
- Fewer late payments
- More predictable cash flow
- Less time spent on admin work
- Fewer accounting errors
- Compliance with local regulations
How our platform makes rent collection easy
Not all automated rent collection tools are built the same. We provide a secure, flexible and hassle-free experience that keeps both property managers and tenants happy. Our easy-to-use online portal allows tenants to pay the way they prefer while ensuring transactions are encrypted and protected. Renters can automatically pay rent each month and receive an instant receipt, eliminating human error. Payments sync with financial reports, saving you hours of manual tracking each month.
Contact us to learn how Breeze Premier helps property managers spend less time collecting rent and more time growing their business.
