Easy accounting with Online paymentsAugust 07, 2019
Tired of accounting paperwork and spending time getting rent checks from tenants while dismissing late fees, because you're just happy to get the rent. There is a solution! Tenants can now pay online using their phone, which then means no paperwork for you. With Online payments your life becomes easier and less stressful. Setup Online payment methods in a few simple steps with TenantCloud!
What to choose?
We provide 3 different options for landlords to collect rent, so tenant can have as many options as possible. Here is the list:
If both ends of transaction are in the U.S., you can use TC Payments powered by Dwolla. There is not convenience or transaction fee. The option is available in $9/month from landlords, but allows for unlimited transactions and no fees. The easy use of having tenant pay with their phone, automatic invoicing, automatic late fees, and the money goes right to your bank account with no fees is appealing, but we even went farther. Under that same plan landlords can also pay the service provides with no fees either and all the transactions come with the ease of having the accounting be automatic.
Tenants are charged one-time $2.37 verification fee for setting up/verifying their account, but after that they never see a transaction fee again. After the account is setup, tenants need to add/verify a bank account to pay online. All information that is entered by tenants during the account set up is not stored on our end and is submitted using the Dwolla API. The provides and additional layer of protection for all information stored in TenantCloud. All information is verified by Dwolla and must be valid to avoid account suspension.
PayPal is available, which has a large user base, but they do charge a transaction fee of approximately 2.9%. This fee is charged to the landlord and not the tenant.
The option “Pay with credit card” is powered by Stripe and also requires transaction fee of approximately 2.9%, but with Stripe the tenant pays the fee and not the landlord. This allows flexibility in how a landlord wants to set up collecting rent.
In order to make a transaction, click on the link below and follow the guide: