RentHero, a new bill management and rental payment platform has launched to provide a secure payment platform to help landlords and tenants to receive, pay and keep track of rental and tenancy related transactions online.
Founded by a team of three entrepreneurs led by Ronald Ngoda, Rent Hero seeks to revolutionize the way property owners and managers collect, manage and store tenancy related transaction records.
“We are in an era where data is the most powerful tool for making business decisions, the way we store, organize, access and analyze data really matters. Most property owners and managers don’t keep their data properly,” Ronald told TechMoran.
There is a lot of paperwork that goes with being a landlord or property manager or agent. Left unchecked, the paperwork can build up and become quite a burden. Rent Hero lifts the burden from the landlords or property managers. All transactions are recorded and made available online instantly.
The platform allows landlords can keep track of rent payments, view payment history, generate bulk rent invoices for all tenants at a click of a button, and send periodic SMS reminders to tenants with rent/utility balances.
Tenants pay rent online via MPESA, Eazzy pay, PayPal, credit card and Airtel money hence there is no need to record payment details manually.
A major cause of friction between tenants and landlords is late payment of rent or non-payment of rent for months. Lack of a proper mechanism to collect, manage and monitor rent collections contributes to the nightmare landlords’ face.
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Rent Hero brings a smart solution to enable tenants to pay rent online, receive periodic SMS reminders to pay rent and rent invoices sent straight to their mobile phones. This helps tenants keep track of their rent payments and bills.
“Rent Hero is different from other players in the market in the sense that we provide a centralized e-wallet that aggregates all landlords’ funds from different sources in one place, making it easy to manage and add transparency,” said Ronald. “This makes us a reliable online rent payment service that offers landlords an easy way to collect rent, saves time in collection and gets them access to their money faster. Landlords can withdraw funds from their e-wallet to MPESA or Bank account at any time.”
Summary of how rent hero works for:
Landlords/property managers.
Create An Account
Add Locations
Add Property Units
Add Tenants
Generate Rent Invoices
Start Receiving Rent Payments Online in your e-wallet
Track Payments Online
Send Payment Reminders
Withdraw Cash To Bank Or MPESA
Buy Airtime For Any Number
Transfer Cash To Other Users On The System
View Payment History for all tenants
Add Utility Types
Add utility Bills for tenants
Track utility payments
View Summary Reports
Free applicant screening with background and credit checks.
Tenants
Create an account
View Rent/Utility Invoices
Pay rent on the go from anywhere
Print payment receipts
View Payment history
Receive SMS invoices
Receive payment reminders via SMS
Engage With Landlord Directly From Our System.
One of the fastest-growing trends in the Kenyan market today is the ability to accept payments online. With the rapid growth in the number of online transactions and purchases, tenants expect an automated cashless payment system such as what is implemented in our rent management software. No more queues at the bank to pay rent or carrying cash to the landlord. Landlords can now have a sigh of relief and spend less time chasing tenants to pay rent, improve service delivery and retain more tenants.
Rent Hero charges 5% of all rent payments done through the system, this goes to sustain the business and improve service delivery. We are currently having 10+ happy clients using our smart solution to collect, track and manage rent records on our system and hundreds of monthly rent transactions done per month by tenants.
“We offer free 60 days evaluation period to all clients who sign up, this gives them the ability to test, explore and evaluate our software service before they start paying,” Ronald concludes.
You can drop them an email at [email protected]
