The main payment methods
Each method trades cost against speed and convenience. The best setup usually offers tenants more than one option while steering them toward the cheapest reliable rail.
- ACH and pre-authorized debit: low cost, ideal for recurring rent
- Credit and debit cards: convenient for tenants, higher processing fees
- Interac e-Transfer: common in Canada, fast and familiar to tenants
Automate the parts that leak money
The revenue you lose is rarely the rent itself; it is the friction around it. Automatic reminders before the due date, automatic late notices after, and automatic reconciliation of partial payments and returned items close most of the gap. Set the rules once and let the system enforce them consistently.
Reconcile to the ledger automatically
A payment that is not tied to the tenant ledger is a payment you will eventually argue about. Choose a system where every channel, including NSF returns and chargebacks, reconciles against the unit automatically. That is the difference between a payment app and an accounting system of record.
How Revun handles it
Revun unifies ACH, pre-authorized debit, card, and Interac e-Transfer into one tenant ledger, with NSF tracking and automatic late notices. Because collection lives in the same platform as accounting, every payment reconciles to the unit without manual matching.
Key takeaways
- Offer multiple rails but steer tenants to low-cost ACH or pre-authorized debit.
- Automate reminders, late notices, and reconciliation to stop revenue leaks.
- Make sure every payment ties back to the tenant ledger automatically.