Automatic online payment collection for landlords & condo associations
Another Way We Make Banking Better
Needham Bank’s new product offering, ZRent, provides an online rent collection service for our landlord and property management customers.
ZRent technology automates rent and condo fee collection, making the process easier than ever. ZRent automatically deducts payments from the tenant or condo owner’s bank account and directly deposits the funds into the landlord’s designated Needham Bank account.
Landlords no longer have to worry about collecting checks and making trips to the bank, while tenants have the convenience of setting up recurring payments. With ZRent, landlords will now receive one complete payment per unit on a reliable schedule every month. As an added convenience for landlords with multiple properties, ZRent is capable of accepting spreadsheets of data for upload into the system quickly and efficiently.
Free of charge for our customers, ZRent is just another way we try to make banking better at Needham Bank. To open your Needham Bank checking account, speak with your lender or contact our Private Banking team today.
Get started with ZRent in five easy steps:
- Sign up on www.zrent.net.
- Input information for each of your properties and invite tenants to sign up.
- Tenants will use their unique link to create their account and input contact and bank information and rent amount.
- Tenants will be asked to verify two micro-deposits made into their account to complete the account setup, or they have the option to upload or mail a voided check to ZRent.
- On the rent due date, rent payments are automatically debited from the tenant's accounts and deposited directly into the landlord's NB Checking account within two business days.