TenantCloud community: many of you have read the news that Dwolla will be moving to white-label integration exclusively. TenantCloud and Dwolla have enjoyed a great relationship and that relationship will continue. Soon you will be able to merge your Dwolla account into your TenantCloud account, which will allow you to have a single place to login and access all of your Dwolla settings, controls and payments. Tenants will be able to pay rent right in TenantCloud without having to pay via Dwolla.
Dwolla’s change requires TenantCloud to become a paying customer. At TenantCloud we are always searching to find the most affordable, highest quality and safest products to integrate and the option of free payments has become harder to find. TenantCloud with Dwolla integration will be included in all TenantCloud paid subscriptions plans and will have NO transaction fees for payments and unlimited transactions for tenants, landlords and property managers.
What does this mean
If your tenants currently use Dwolla to pay rent - it just got easier. Their Dwolla account will convert to a single TenantCloud account, so paying rent is a single step. All the Dwolla setting will be available inside your TenantCloud settings.
TenantCloud assists in facilitating Millions of dollars in rent each month and the average rental amount is $875/mnth. Other companies will charge a transaction fee as much $25 for this payment and that is only for one rental. To support all of the TenantCloud community we are including it in all of our paid subscription plans at no extra cost - with unlimited transactions and NO transaction fees, because it was more aligned with our goal of making landlording easier.
We have attempted to keep the costs as low as possible. To avoid costly transaction fees TenantCloud Payments (powered by Dwolla) will have no transaction fees, no matter how many transactions are made or how many tenants you have. It will be available starting in our basic subscription plan of $9/mnth.
I currently have a Dwolla Account
If you currently have a dwolla account then it will be easy to merge into a TenantCloud Payments (powered by Dwolla). We will have an easy switch button, so when the time is right you just click a button and it will convert. As easy as that.
Will this make paying rent easier
Paying rent will soon be even easier because tenants no longer need a Dwolla account and can pay directly from their TenantCloud app or site. There will be no interruptions during this transition. Tenant will still log in to TenantCloud and hit “pay rent” and they are done.
For all active users the transition will be easy and include 2 months of free access to the new TenantCloud Payments (powered by Dwolla). This will allow you to have no interruptions for tenants paying rent. For all users that currently subscribe to our $9/mnth plan this transition will be very smooth and you will see no impact. For users that currently don’t use Dwolla and have a free TenantCloud account - there will be no impact.
We have also attempted to integrate with other free payment services, but they too are discontinuing their free payments. To allow for more options we’ll soon offer PayPal and Stripe for all TenantCloud users - each charge a transaction fee for each payment.
We are excited to move into this next phase of easy payments and couldn’t be here without our supportive users. Thank you all so much!