Case Study
Collect My Rent, Inc.

Mr. Ryan Smith, President and CEO of True Investor, Inc., the developer of Intellipoint Pro software, the leading property investment software program in use by over 150,000 real estate professionals, contacted Payment Systems Group, Inc. (PSG) for help in developing an online rent collection program for property managers. Mr. Smith brought his knowledge and experience of the rental property market to PSG for help in designing the payment process needed for his new venture, Collect My Rent, Inc. (CMR).

CMR allows automatic rent collection for residential property managers. New and existing tenants can enroll in the program by completing an online application using the CMR web site. All enrollment information is protected using state-of-the-art web and database security methods. The enrollment includes a NACHA compliant authorization for cycle debits of the tenant’s account to pay rent. The authorization is also backed by a credit card authorization to charge a credit card if the scheduled debit fails for any reason. Property owners can manage their rent collections on the same web site. All funds are collected and dispersed automatically using the NACHA network. Tenants are in favor of the program since their rent payment is confirmed, paid on time, securely, and on a schedule they pick. Immediate, weekly, semi-monthly or monthly schedules are available. Both large and small apartment management companies enjoy that 100% of all rent is paid on-time without having to deal with paper checks, manual bookkeeping, late payments and misapplied payments.

PSG’s experience in developing equity acceleration programs for the home mortgage market helped Mr. Smith “fast track” his program for residential rent collection. The combination of ACH transactions backed by a credit card gave rental managers the security that they were looking for to ensure that all rent payments could be collected in full, on time, every month. PSG’s proven design work in the areas of database design and web service based payment processing functionality saved Mr. Smith hundreds of hours of development time and expense. Mr. Smith was able to use PSG’s ACHPPE™ (ACH Payment Processing Engine) to process a nearly unlimited number of payments from tenants in residential complexes nationwide. The ACHPPE™ web service is able to process and send payments to all residential managers and offer online reporting of the accounts of all of their tenants. Tenants can update their own account information online using the same web site.