Every bed pays for itself

You’re not collecting one rent check. You’re collecting four.

Ask any student housing operator what makes the month hard, and it’s rarely the property. It’s the math.

One roommate pays. Two pay late. The fourth swears he sent his share to the roommate who was supposed to send you one payment, and now you’re the accountant for a group text.

Then August arrives and every lease turns over at once.

Student housing has a few problems that ordinary rent collection tools were never built for:

• Rent arrives in pieces. A single unit balance can’t tell you which student is current and which one isn’t.

• One student’s late payment looks like everybody’s. If four students share a balance, a partial payment reads as a partial unit, and the whole lease looks delinquent.

• Most of your renters have never paid a bill before. For a lot of students, this is the first recurring payment of their lives. They don’t need a lecture. They need a reminder.

• Turnover is a season, not an event. Move outs, move ins, and new leases stack up in a matter of weeks.

One renter, one account, one balance

This is the part that matters, so we’ll be plain about it. PayRent doesn’t let renters share an account. For security and privacy reasons, every renter gets their own, which happens to be exactly what per-bed leasing needs.

For a per-bed property, you create a record for each bed and invite each student to their own account. Each student sees exactly what they owe. Each student pays their own share on their own payment method.

You see four balances instead of one blurry number.

And when a student doesn’t pay, that’s the only account that’s late. Their roommates stay current, their ledgers stay clean, and you’re following up with one person instead of interrogating four.

Clone a Property lets you add multiple units at the same address quickly, so setting up a building bed by bed takes a fraction of the time it sounds like.

Reminders that work on a student’s schedule

Every renter is automatically reminded three days before rent is due. No nagging from you, no awkward text message, no “I totally forgot” on the 6th.

For a lot of students it’s the first time anyone has helped them stay ahead of a bill.

For the ones who still fall behind, automated late fees (included with Do-It-Yourself and Go-Like-A-Pro) apply your policy the same way every time. The fee isn’t a personal decision you have to make forty times a month. It’s the policy, applied consistently.

Late Fee Forgiveness, part of RentCred™, gives renters a path to having a late fee forgiven, so one hard month doesn’t have to turn into a standoff.

A partial payment shouldn’t look like a paid one

Half of a student’s rent is not rent. Block Partial Payments requires the full balance due, so a bed reads as paid only when it actually is.

If you’d rather leave some flexibility, that’s your call. Every property carries its own independent settings, so a graduate building and an undergraduate building can run completely different policies under the same account.

Credit reporting is the easiest recruiting pitch you have

PayRent reports rent payments, both on time and late, to all three major credit bureaus: Experian, TransUnion, and Equifax. At no extra cost.

For a 20 year old with no credit history, that’s not a perk. That’s the beginning of a credit file, built by doing something they already have to do.

It’s also the most persuasive reason a student will ever have to pay you on time, and it costs you nothing to offer.

Set it up once, run it every semester

• Independent settings for each property. Different buildings, different rules.

• Global property settings. Set or reset your preferences across every property from a single panel.

• Renter account ledger. Every charge, credit, and payment per student, in one balance.

• Document management (Do-It-Yourself and Go-Like-A-Pro). Store leases and addenda where you can find them. Document e-sign is available on Go-Like-A-Pro.

• Require renters insurance. Require proof of coverage and track it per renter.

• Online applications and tenant screening through our in-app marketplace of screening partners.

• Account summary dashboard. Collected rent, past due rent, and vacancy at a glance.