According to RentRedi data collected between January 2020 and August 2024, on-time rent collection rates improved for units with tenants utilizing autopay. When RentRedi’s autopay was enabled, overall on-time rent payment rates improved from 87% to 99%. These trends held even when considering tenants with poor or fair credit scores, showing a 99% on-time payment rate when they used autopay, as opposed to an 84% rate for those with a similar credit score who did not enable the feature.
According to RentRedi data collected between January 2020 and August 2024, on-time rent collection rates improved for units with tenants utilizing autopay. When RentRedi’s autopay was enabled, overall on-time rent payment rates improved from 87% to 99%. These trends held even when considering tenants with poor or fair credit scores, showing a 99% on-time payment rate when they used autopay, as opposed to an 84% rate for those with a similar credit score who did not enable the feature.