Just charge it, managers say.

Visa USA announced that the number of properties offering tenants the option of paying their monthly rent with a Visa debit or credit card jumped 43%, to 1,000 properties, as of June 30, 2003, compared to a year earlier.

Visa surveyed the top five property management companies contributing to this growth and found that tenant demand was the chief reason for initiating or expanding acceptance of debit and credit cards for rent payments.

Card-based bill payments allow customers to pay regular household bills such as rent, phone, cable TV and insurance. Rental properties in all 50 states now offer bill payment by Visa card as an option. The more than 1,000 properties accepting Visa represent 350,000 total rental units nationwide.

"Property managers tell us that that offering the payment card option enhances existing resident satisfaction, attracts new tenants and increases retention," said James Eitler, vice president of merchant sales and integrated solutions with Visa USA. "We're committed to working with property managers to ensure that Visa's payment solutions help them run their businesses more efficiently and profitably."

While checks remain the most popular way to pay rent and other monthly bills, Visa research found that approximately one-third of U.S. consumers are interested in the option of using a debit or credit card to pay regular household bills. The research also revealed that consumers write an average of 10 checks per month, the first usually being a check for a rent or mortgage payment.

"The decision to begin accepting Visa for rent payments grew out of resident demand, but we expanded our program because of the financial benefits it yielded," said Drew Schunk, vice president of Dallas-based Lincoln Property Company. "When our customers use a Visa card, it ensures us on-time payment and results in fewer delinquencies than checks."

According to a Downall Research Company study commissioned by Visa, most apartment community managers recognize the benefits 0f bill payments by card. The 2002 study surveyed 105 managers of large apartment communities in the U.S., and found that 83% said the use of payment cards increases on-time payments.

In addition, 81% said the payment card option makes apartment homes easier to rent.

In April, at Visa's request, the American National Standards Institute established a separate Merchant Category Code for tracking transactions at property management companies. The separate code will help card issuers establish authorization limits and set risk parameters in the industry. The code will also enable many cardholders to view exactly how much they've paid for rent during the year.

Earlier this year, Visa also launched Visa Account Updater, a service for merchants that automates the process of updating their customers' Visa card information. For property management companies, the service greatly reduces disruptions to the payment process that result from outdated account information.