Rent collection, an avoidable hassle! ⏱️

As a real estate owner or investor, you've no doubt already faced a difficult rent collection period. Cheques with no funds, closed bank accounts, undelivered cash and transfers to your various banks to make your deposits are just some of the challenges you face. Do you really have to repeat this obstacle course month after month?

It's lease renewal time, and the ideal time to introduce a new, reliable and up-to-date payment method that you can control and that will bring you stability...

Various payment methods

In the past, only cheques and cash were possible methods of payment. With the advent of technology, bank or Interac transfers and pre-authorized debits are now possible methods of payment. But what about all these ways of getting paid?

The cash payment method, while guaranteeing you immediate access to your money, remains unreliable, leaving you at the mercy of your tenant's willingness to pay you on time. What's more, this method offers no traceability of the sums received.

Cheques, on the other hand, are more reliable and offer better traceability for your accounts. Some of your tenants will be able to give you all twelve cheques at once, but others will do so in dribs and drabs, or simply won't have any to hand. Then you'll have to manage them and make the deposits. If you have several properties linked to several banks, you'll need to repeat the exercise for each of them, so that you can make deposits in the right place. In the event of insufficient funds or a change of bank account by your tenant, you'll have to go back to chasing cheques to get paid.

Bank or Interac transfers are an interesting alternative for owners of small rental properties. They're fast, and you get the money immediately. However, this method of payment is initiated by your tenant, and you have no control over when they decide to pay you, which can be unfortunate. What's more, this type of transfer may require the use of secret questions with answers. For one or two doors, this may be easy to play with, but for larger properties, it becomes complex. Who wants to have to juggle dozens of e-mails, questions and answers to deposit in the right bank accounts?

Automated rental payments: a proven alternative!

Pre-authorized payment is becoming increasingly popular. It offers speed, traceability and ease of use. Because it's initiated by landlords, not tenants, this payment method gives you full control over the receipt of your rent. No more chasing cheques or going to the bank. Has your tenant run out of funds? You take back his rent with a simple click. Same thing if your tenants change banks. A few clicks and you're done. But what else?

Conventional pre-authorized payment requires you to centralize all your transactions in a single bank account. If you're the sole shareholder, this is perfectly feasible. However, when you expand with financial partners, they may want to use a financial institution other than your own for new properties. This will force you to use multiple systems for your direct debits. This situation can be avoided, and see how...

An innovative, specialized solution for receiving your rent

Otonom Solution, a multi-bank payment solution for 10 years already, has developed a universal banking system that allows you to collect all your rents in one place and deposit them in several bank accounts located in as many financial institutions as you wish. This solution is perfect for your expansion projects with real estate investors. You'll be able to negotiate without the stress of asking them to comply with your bank. All banks are accepted and you can manage them all from your account. Interesting, isn't it?

In addition to offering you multi-banking and 10 additional efficiency solutions, this service offers you the convenience of sending your transactions with or without management software. Expert OwnerHopem and Condo Manager are among the software products that offer connectivity with Otonom Solution. No bank can offer you such a link. A few clicks and your transactions are sent. Using management software also gives you the option of making electronic supplier payments. With Otonom Solution, paying suppliers is child's play. Whether you're the sole signatory or need two,

Your time is precious and we know it

Your time is precious and can be put to better use. Rather than managing non-value-added tasks like wasting time receiving payments, you could use it to grow your business or increase your quality of life with more personal time. For the simplicity of a solution that understands you, choose Otonom Solution.