New Fad: Paying Rent in Digital Currency

The newest form of payment is all digital – from older transaction methods such as PayPal, to newer ones such as Venmo and Bitcoin, it is now easier than ever before to pay digitally. In fact, some technologically savvy real estate companies are allowing some forms of digital currency to be used as payment for renting purposes.

So, what does this mean for realtors and future home sales? Essentially, an entirely new group of people are being targeted. Real estate companies who have incorporated this feature are undeniably making a smart business decision. They are catering to a younger crowd, who is taking the digital currency market by storm.

While adding digital currency opportunities is a fairly new marketing strategy for real estate teams, it is only expected to increase in popularity. There is an ever-increasing sense of immediacy with each upcoming year, and clients are drawn by the idea of being able to pay their rent with a click of a button, instead of waiting for a check to be cashed.

The only drawback is that not all clients may be interested in this new payment feature, especially if they are from an older generation. Because of this, if you are contemplating adding a digital currency payment option, it may be beneficial to allow for more traditional forms of payment as well, such as cash and checks. While some new fads may entice others, they may also push others away.

This form of payment is bringing a sense of ease to both landlords and renters alike. Money is withdrawn from a client’s account immediately, and simultaneously processed into their landlord’s account. This also makes it easier for clients to pay their realtors quicker – all in all, this has ended up being a win-win feature for everybody. If you are thinking of adding digital currency as a new medium for payment, now is the time to do so.