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Rent Payments FAQ

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Question
RENT PAYMENTS Here are the most frequently asked questions regarding rent payments online.

Answer

Rent Payments FAQ

 

How do I get set up to receive rent payments online?

First, add the property address to your Rent Perfect account. Next, click “My Rent Pay” or “Collect Rent” on the home screen to enroll the property address with the payment processing company. Enrolling the property is FREE.

 

What paperwork is required for enrollment?

Please be prepared to provide the following items during the enrollment process. Please watch your emails in case the processing company requests any additional required information from you.

            Copy of ID

            Proof of property ownership

            Proof of TIN (in the case of a business)

            Bank account details for deposited funds

            A voided check or checking account statement

 

What are the fees?

Enrolling the property is FREE!  There is a processing fee for each payment which can be paid by the tenant. 

 

ACH Payments: Bank account to Bank account. $4.95 flat fee per payment

Credit card payments: 2.95% transaction fee per payment

 

How can my tenant make a payment?

Once the property is enrolled you are ready to receive payments online.

Tenants will log in to their tenant portal at www.rentperfect.com to make a one-time payment or they can opt to set up monthly automatic payments. Tenants must complete an online application before they can start making payments.

 

When will the funds be available?

Once a payment is submitted by a tenant it can take 3-5 business days to become available in the landlord’s bank account.

 Processing= payment was submitted   Cleared=funds have been approved

 

How do I look up payment transactions?

Landlords can look up rent pay transactions by clicking “My Rent Pay” on the home screen of their account.

 

Will I get an email when my tenant makes a payment?

Landlord’s will be subscribed to payment notification emails and will receive the following emails:

 

When a payment is processed.

When the funds for a payment clear.

If the funds for a payment were unavailable.

If a payment was canceled before the funds cleared.


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Views: 14 Created on: Nov 05, 2018
Date updated: Nov 06, 2018

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