How to streamline rent collection and reduce arrears with automation

Rent collection doesn’t need to be a source of stress. For student property managers, automation is the key to minimising arrears and saving time. Manual tracking, delayed payments and tenant miscommunication can create an unnecessary operational burden, especially in peak periods. Fortunately, there are simple ways to streamline the process, reduce missed payments, and stay one step ahead of problems.

In this blog, we’ll explain how to simplify rent collection using automation so you can spend less time chasing payments and more time focusing on what matters.

1. Automate rent reminders to keep tenants on track

It’s easy for students, especially those paying rent for the first time, to forget deadlines. Rather than waiting for problems to arise, automated reminders help keep tenants informed and proactive. These can be sent ahead of upcoming rent due dates to prompt payment and reduce admin time for your team.

Timely, automated reminders set clear expectations and reduce the need for follow-ups, improving the likelihood that payments are made on time.

2. Offer multiple, flexible payment methods

The easier it is for tenants to pay, the more likely they are to pay on time. Offering direct debits, Open Banking, and debit card options, as well as international payment tools for overseas tenants, can reduce delays and increase convenience.

For students managing their own finances, flexibility can make all the difference. It’s also worth communicating the importance of setting up payments in advance to avoid issues down the line.

3. Track payments in real time

One of the biggest causes of arrears is a lack of visibility, both for tenants and property managers. Real-time payment tracking allows your team to monitor who has paid, what’s overdue, and where follow-ups are needed.

It also supports clear reporting. If you’re managing a large number of tenants, being able to instantly identify issues or trends gives you the insight to act quickly and reduce the risk of arrears building up.

4. Link payment data to contracts

If your rent schedules are written into your contracts but live separately from your payment tools, it’s easy for inconsistencies to creep in, especially if there are changes, cancellations or early departures. When contract terms are automatically linked to your rent collection process, everything stays up to date.

This helps avoid disputes and ensures tenants only see what’s relevant to their specific situation.

5. Make the process transparent

A transparent rent collection process builds trust. Give tenants a clear picture of what they owe, when it’s due, and what happens if they fall behind. Make sure they can access this information independently, whether via a tenant portal or automated email summaries, to reduce inbound enquiries and keep everyone aligned.

Clarity supports accountability. The more visibility tenants have, the less likely they are to miss payments due to confusion.

How Concurrent Can Help

Concurrent is designed to make rent collection easier for student property managers.

• Tenants can pay via direct debit, SEPA, Open Banking, or card, including international payments in their local currency.
• Automated rent reminders reduce the risk of missed payments.
• Payment schedules are built into each digital contract, so if the contract changes, the rent schedule updates automatically.
• Real-time tracking makes it easy to see who has paid, who’s overdue, and who still needs to set up their payments.
• If a tenancy is cancelled, Concurrent automatically calculates what’s owed and adds rent credits or refunds as needed.

And with lower processing fees than most third-party providers, you can protect your rental income without sacrificing margin.