Matt Golis founded San Francisco-based RentPayment seven years ago with just that idea in mind. And now, thanks to customers including AvalonBay, Carmel Partners, Seres-Regis, Woodmont Real Estate and other large landlords, he rang up $2.5 million in revenue last year.

"We've locked up 17 of the top 50 REITs (Real Estate Investment Trusts) with them rolling out our service to a portion if not all of their portfolio," said Golis. "The sweet spot they're pursuing is (properties) with 500 to 5,000 units."

The software firm provides a simple service -- it enables tenants to pay rent with a credit card -- but is angling now to make its offerings more complex and, it hopes, more profitable.

RentPayment used to charge a convenience fee of 2.95 percent to the tenant, but will adopt a flat fee model of $12.95 per transaction starting next month. This means a big boost in revenue from lower rent areas where the market is developing rapidly.

"That acquisition is going to significantly push our revenue projections for 2005 and beyond," said Golis, noting he expects more than $4 million in revenue and to turn a modest profit in 2005. He expects to double revenue in 2006 to $8 million, and, if plans go as expected, substantially bolster future operations at the 10-person firm.

The former Netscape employee, who used his own funds and those of two Chicago-based angel investors to launch the company, is meeting now with a private equity group in Boston to secure another $4 million or $5 million to accelerate operations.

Golis said he is still reviewing the term sheet, but expects to finalize the decision by late May. He would use the funds to hire additional staff, mainly in sales and marketing and expects to double staff to 20 by year's end.

The fresh focus for the new employees?

New and as of yet untapped markets including the student housing, vacation rental and mortgage payment markets.

Golis said his company recently upgraded its software so it now integrates with asset and property management systems by both Yardi and AMSI -- the industry standards -- so he anticipates being able to upsell existing customers as well.

The new software release also lets users scan check and do electronic deposits -- a major plus for property managers eager to scrap the now-mandatory bank runs.

Golis acknowledges he has some stiff competition, including Oakland-based PropertyBridge and Property Solutions in Utah, but he is optimistic the venture capital expertise that comes with their funding will help propel his company to the next level.

He said: "They've got quite a few relationships with other electronic payment companies. That along with the other changes moves us from just being a credit card payment company to being a full service payment company."