banq: the Perfect App for Real Estate Payments
Built with efficiency in mind, banq streamlines real estate and HOA payments, making it easier than ever to stay organized. Renters, landlords, and administrators all benefit from the set of tools designed to make life simpler.
Modern Times Require Modern Solutions
Online banking is the norm. Today’s tenants and homeowners prefer online banking solutions to pay rent and HOA dues. Landlords prefer not to cash checks. This means we need new solutions. Enter banq.
It’s so much more than a banking app: it’s a modern way to meet the needs of real estate professionals and their tenants. Statistics show that 4 out of 5 renters use mobile banking apps regularly, while 9 out of 10 prefer to pay this way as opposed to paper checks. Why waste time chasing down money, when you get paid to a specified account on time, every time?
Most Payment Apps Are Far Too Basic
Think about most banking apps you’ve seen. There’s no organization. They lump all transactions together. You’re limited to one account and there’s little to no transparency. Payment methods and payment requests aren’t flexible.
banq takes a modern approach to payments. Multiple buckets — one for every payment account or client — help streamline and organize your financials.
Automate to Minimize Late Payments
Automated payments means no more checks “lost” in the mail. Make everything streamlined and you can cut out the excuses.
Schedule a payment for the first of the month and get paid automatically, to the right account. Cashless, secure, contactless, paperless payments — including linked bank accounts and debit cards — give renters flexibility too. It’s a win-win!
Simplified Accounting and Increased Transparency
With everything classified and in the right account, fewer hours are spent on accounting. Now, your employees can spend more time on other pressing matters and improve your bottom line.
- Exportable Ledger: Each account in banq has its own ledger of income and expenses. Export CSVs into various accounting software programs for simplified bookkeeping
- Authorized Users: Make bookkeepers or CPAs admins of specific accounts. No more sending over files or paper records, which means less billable accounting hours
Unlimited Accounts and Easy Organizing
Gone are the days where you can only have a limited number of accounts. With banq, you can have 1 or 50 accounts for every kind of expense or income you need to organize.
- Create a separate account for each property
- Have rent automatically be paid into the property’s dedicated account
- Have expenses for that property be paid into that same account
Modern and Flexible Ways to Get Paid
It’s best practice (especially now) to receive rent payments without in-person contact. It’s preferred to get the money instantly. banq does both for you (and it does a lot more for you, too).
- Get paid via a QR code, a unique payment link, a user’s handle, or payment history
- The tenant can pay using ACH, wire, banq balance, credit or debit card
- The tenant’s payments, or your payment request, can be set on an automated recurring schedule