Rent: Should You Take Credit Cards?

Accepting credit cards has its benefits: 

  • Professionalism
  • Convenience
  • Competitive Advantage
  • and more

Learn why and how to accept credit cards by reading on.

Yes!  Accepting credit cards is a must with corporate tenants who may be traveling on business and using the company card. It may be their only method of paying you.

What are some of the other benefits to accepting credit cards?

Professionalism: You give your tenants an expected level of professionalism and confidence that you’re running a real business.

Convenience: You make it easy for them to pay you with little hassle and added work. They’re busy and don’t have time for snail mail.

Competitive Advantage: Other “by owner” landlords are taking credit cards. If you don’t, they may have to go to your nearest competition instead.

Documented Transactions: Credit cards enable you to document your transactions should anything be disputed.

Cash Flow: Credit cards speed up the transaction. No waiting for checks to arrive in the mail and to later clear with the bank. The money is in your account… quickly and easily.

TWO BONUS TIPS! CHBO recommends a PayPros. Tell them you are a property owner for CHBO to learn about their special deals. Once you are able to accept credit cards, be sure to turn on the Credit Card symbol on your property listing so you can attract more tenants! You can do this by logging into your MyCHBO account.

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Kimberly Smith is an accomplished entrepreneur and published author with more than 20 years experience as an entrepreneur in the areas of real estate, property management, corporate housing, website development and franchising. In 1999 Kimberly and her husband/ business partner, Eric, launched AvenueWest Corporate Housing, Inc., a multi-million dollar success story. AvenueWest provides real estate property management of furnished residential properties offering full service corporate housing services to upscale executive travelers in need of a monthly lodging solution. A recognized leader in the industry, they were awarded CHPA’s 2010 Provider Company of the Year Award and listed for 3 consecutive years on Inc Magazine’s Inc 5000 list of the countries fastest growing businesses. Inspired to help people find corporate housing and real estate solutions on a national basis, Kimberly and Eric came up with a business idea to create a national resource dedicated to connecting furnished rental properties with executive renters. In 2006 (CHBO) was launched, the first-of-its-kind online portal connecting furnished rentals and the traveling public. In 2013 CHBO was recognized by CHPA as the Associate Company of the Year. In 2009 AvenueWest Global Franchise was launched allowing for the national expansion of the AvenueWest Managed Corporate Housing product. Current offices are located in Phoenix, Atlanta, Fort Collins, San Francisco, Boston, Dallas, Denver and Colorado Springs.

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