How to Get Payments Online from Residents in HMO Property Designs

HMO Property Designs

HMO Property Designs

2019 saw the start of one of the worst pandemics in the history of mankind. The coronavirus hit the world hard and as a result, a lot of people were subjected to their homes. Lockdown occurred at the world level and many countries went into total shutdown. Many people died due to the coronavirus and many were affected for the remainder of their lives due to the loss of loved ones.

The virus is still very much out there and the third phase is on its way. We are hoping against hope that this wave does not cause a lot of damage and scientists are able to find the vaccines. However, for business people, this means that they have to carry out the majority of their activities by maintaining social distancing. If you are the owner of a home in multiple occupations, then it is very important for you to collect the monthly rent. However, if you used to go to your shared residence physically before then it is better to collect the rent online now. How you can do this with your HMO Property Designs, what are the ways and means that you can use to collect the rent on month-end online, you can find in this blog.

PayPal

PayPal is a great option that you can use to get your monthly rent on time. Using this online application, all your renters can provide you the money on time. PayPal is a great software and application that allows users to transfer money from the bank account into the PayPal account. And from there they can transfer the money to your PayPal account or your bank account directly. Using this feature you can easily get your money right on time without going physically to your shared residence

Online Banking

A majority of the banks now provide online facilities to transfer funds. You can ask your rented individuals to share the monthly rent with you with the help of an online banking facility. All they have to do is create an online account of their banks on the banking website. Then they can directly enter your banking details that you have to give to them and they can send an amount over to your banking account. With this process, you can easily collect the money without going physically to your shared residence.

Bitcoin

Bitcoin is quite a popular platform for bitcoin mining and a lot of people are using this blockchain technology in order to enjoy great returns over their investments. Bitcoin can also be used to transfer money in a very secure and safe way. The entire communication of a bitcoin is encrypted which means that nobody other than the chair and the receiver can understand the shared information. The software uses public keys and private keys that allow only the intended users to open messages. Therefore, if your renters are using bitcoin then they can easily transfer all of their monthly rent directly over to you using this technology

Delivery Services

Another way that they can transfer your monthly and over to you for your HMO Property Designs is by posting the money over to you with the help of a courier service. A lot of courier services and delivery services are operating right now and allowing their users to send the money in the form of delivery packages to intended recipients. You can ask your residents in the shared property to send you the money with the help of a quality courier service. There are some tax charges on top of a delivery package and if it’s possible for you try to pay the tax yourself.

Make sure to ask your renters to take precautions when a delivery boy comes to their home to collect the money. They should maintain a safe distance so that we can break the chain of the virus. Furthermore, you should also ask them to wear gloves and masks when giving the money to the delivery boy.

Conclusion

These are all the ways that you can use to encourage your rented residents to pay their monthly rent on time without you having to go there physically. This can prevent the spread of coronavirus and keep you safe at your home as well. With all of these steps, the convenience of getting the payment online is unmatched. By following these steps, make your life easier. Your renters will also feel more comfortable.

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