Rent payment platforms: What you need to know

Collecting rent is one of the most fundamental responsibilities for property managers, yet it remains a challenge for many PMs and investors. As protech advances, rent payment platforms have become an absolute necessity—rather than a nice-to-have—for professional property managers.

Rent payment platforms are dedicated software tools that streamline the collection process, reduce late payments, and improve the resident experience. All of this saves your team valuable time that they’d other wise spend chasing down delinquencies, and gets distributions out to your investors sooner.

In this article, we’ll cover what rent payment platforms are, why they’re so important, who benefits from them, and why Second Nature is a vital piece of the rent payment process.

What are rent payment platforms?

A rent payment platform is a digital system that enables residents to pay rent online securely and on time. Rent payment platforms are an essential part of a property management company’s tech stack.

Payment platforms are important because of the multitude of benefits that they provide:

• Eliminate manual collection, paper checks, and trips to the bank
• Improve accuracy in accounting ledgers and balances, thanks to direct integration and automation
• Direct integration with property accounting systems mean that ledgers are updated as soon as payments are made, and that residents and instantly see their outstanding balances, so they always know where they stand

Second Nature’s Resident Benefit Package (RBP) complements a rent payment platform by adding lease-enrolled benefits—like a renters insurance program, filter delivery, and Group Rate Internet—to the lease ledger. The RBP is set up directly in your property accounting software, adding a ledger item that links directly with your payment platform so that residents can pay for their benefits right alongside their rent, whether it’s collected monthly or you offer flexible rent payment options.

Why rent payment platforms matter for investors and property managers

The biggest benefit of rent payment platforms is that they decrease delinquencies, providing more financial stability for your company and your investors. On-time rent provides a more predictable cash flow for your business, allowing you to more confidently invest money in other areas, like technology improvements or staffing.

An added benefit is that your team spends far less time on administrative tasks, opening checks from the mailbox, applying them to the appropriate ledgers, and either bringing them to the bank or depositing them one by one. They can then use that time on more strategic initiatives or building better relationships with investors.

Automatic payment options and automated reminders help residents pay on time more reliably. Not only does that mean less time spend chasing down rent, it also makes evictions far less likely. Plus, the transparency and convenience of online payments drive higher resident satisfaction, retaining them longer and minimizing expensive turns and vacancies. In fact, according to AppFolio’s 2025 Renter Preferences Report, 88% of surveyed residents said online rent payments were an important when looking for a new rental.

Who benefits from rent payment platforms?

One of the best parts of rent payment platforms is that they perfectly fit into Second Nature’s Triple Win philosophy—they benefit residents, investors, and property managers alike. Residents get a convenient way to pay rent, often partnered with credit building programs that report their on time payments to credit bureaus. Investors don’t have to deal with delinquencies or delays in their owner distributions, and property managers save valuable time to reinvest in other parts of the business. 

Another great benefit is that rent collection platforms also benefit all kinds of housing, regardless of segment:

• Residential communities: Whether you’re managing single-family, multifamily, build-to-rent, or all of the above, residents want online payment options and your team wants to spend less time processing payments.
• Self-managing investors: If you’re a DIY investor seeking a simple, secure way to collect rent, a platform is the perfect solution. It also helps your residents get accustomed to modern management, so if you choose to hire a professional management company in the future, there will be less change management.

• Student housing: Younger renters especially are more likely to want modern, mobile-first tools to manage their resident experience. Plus, most payment platforms offer the option for third-party guarantors or co-signers to make payments, so if a student’s family is paying their rent, that’s easy to accommodate.

What to look for in a rent payment platform provider

There are a few key features that you should always look for in a modern payment platform. Let’s take a look:

• Security: Digital security and compliance with financial standards are vitally important. You’re handling sensitive bank account or credit card data, along with billing addresses and other personally identifying information (PII) so compliance is key.
• Transparent pricing: The solution provider you opt to go with should be clear and upfront about their payment and fee structures. Do they charge a flat monthly subscription? Are you billed by door or by transaction, or does the provider charge a percentage fee? How does the fee structure differ for ACH vs. credit card payments? These differences can really add up as you add more doors to your portfolio.
• Mobile accessibility: Modern residents want mobile-first solutions that can be quickly and easily automated. Giving residents the option to set up automatic payments so that they don’t have to think about paying rent on the first of each month.
• Integrations: Your payment platform should integrate directly with your property accounting solution. Manually syncing up data is error-prone, risky, and time-consuming.

• Proven success: Look for tools that have trusted reputations among the property management community and a reputation for reliability. Look for customer testimonials and check review sites for opinions of other property managers, as well as investors and residents where relevant.

Why property managers and investors choose Second Nature to support rent payment outcomes

Second Nature’s Resident Benefit Package is the perfect addition to a rent payment platform for multiple reasons. Whether you’re looking to directly integrate additional services with rent payments or you’re looking for new ways to drive on-time payments, we can help.

Second Nature integrates directly with your rent payments so that residents can make one payment to cover their renters insurance, air filter delivery, identity protection services, and even their home internet. You no longer have to send additional bills for various services that you offer.

Second Nature’s benefits also drive a direct reduction in delinquencies:

• Credit Building: Residents are more likely to pay rent on time when they know it’s boosting their credit. In fact, TransUnion found that 85% of residents said they were more likely to pay on time if they knew their payments would be reported.
• Resident Rewards: Incentivize on-time payments by giving your residents rewards points when they pay rent. They can then exchange those points for prizes, discounts, and gift cards.
• Identity Protection: When a resident’s information is compromised, they may lose access to their bank accounts, leaving them unable to pay on time. Our $1 million in identity protection makes sure that doesn’t happen.

Second Nature customers have seen a 14% overall decrease in delinquencies thanks to our financial benefits for residents.

Moreover, Second Nature works with portfolios of any size, and our success-based pricing ensures that we don’t charge you anything until benefits are actually delivered and you’re seeing results.

Simplify rent collection with Second Nature

If you want to make your rent collection more reliable and decrease delinquencies, connect with us about adding a Resident Benefits Package for your portfolio.