Rentalutions, an online software platform for DIY (Do It Yourself) landlords, will immediately allow tenants to pay their landlords with Bitcoin. Thus, becoming the first major property manager or rent processing company to offer the option for tenants to pay in Bitcoin, Rentalutions is all set to help the virtual currency become a popular method for payment.
A source from Rentalutions admits that the new initiative is aimed to provide automated solutions. He says that he believes that landlords and property managers deserve to have a solution that automates, organizes, and simplifies the process. This is why his company has developed and integrated the Rentalutions rental cycle model into the software and Bitcoin payment.
Bitcoin payment option is towards the same direction wherein renters can pay in the virtual currency that is the electronic equivalent of cash. Co-founder of Rentalutions, Ryan Coon says that as Bitcoins gain popularity, he expects tenants will want to use the currency to pay rent. As a technology business, it’s his job to anticipate consumers’ needs.
Bitcoin which was created in 2009 is fast becoming a popular payment option for customers. Even some bars, café houses, taxi or cab companies, etc. have started accepting Bitcoin for exchange of their services and products. In fact, a recent decision by a Federal Judge in the Eastern District of Texas declared that Bitcoins are, “a currency or form of money.”
Wide Acceptance of Bitcoin
The declaration by the Federal Judge in the Eastern District of Texas has great implications as it paves the way for greater regulation and adoption among individuals and businesses. Now that Rentalutions has announced that its software renters can pay in Bitcoin, the crypto-currency has a higher propensity to gain legitimacy from large section of users.
Thus, helping out renters and property owners with Accounting & Reporting, Collecting Rent, Finding & Screening Tenants, Lease Agreements, Managing Maintenance, Security Deposits, etc. Rentalutions has now brought in exclusive feature for renters wherein they can pay using Bitcoin.
Similarly, with Rentalutions, landlords or property owners can not only find tenants, access credit and background reports, collect rent and create and sign leases electronically, etc. but also accept payment in Bitcoin.
Bitcoin, a revolutionary virtual currency is popular and becoming an accepted payment method for customers and an easy tool for companies. The decision on the part of Rentalutions will definitely promote it further.
To contact the reporter of this story: Deepak Tiwari at firstname.lastname@example.org