Please note that the information in this article is outdated. TenantCloud has partnered with Stripe to enhance the online payments experience for our users. As a result, Online Payments have undergone significant advancements. For more information, please refer to our Help Center.
Here is to summer, sunbathe and a new TenantCloud release! We know what you've been waiting for, therefore added some interesting updates across the system including changes in accounting and online payments, maintenance requests bids, new reports and many others. Here are the major things we've made:
Restrict & Customize Online Payments
Landlords and Property Managers can block selected online payment methods for a specific tenant (we know you've been waiting for this!). Also, you can see what payment types your tenants have now. This is helpful during the eviction process or when a Landlord (Property Manager) wants to get paid using a specific bank method (avoid paying fees).
TCPayments powered by Dwolla
A lot of changes have been done to the TC Payments Business Account. A new regulation called the Customer Due Diligence Rule comes into effect. This rule requires every covered financial institution in the U.S. that opens a business account to verify the identity of anyone who owns 25% or more of the business, as well as a person with significant responsibility for managing the business. Since Dwolla works with financial institutions to power your bank transfers, we want to ensure a seamless and painless process of accommodating this regulation. Learn more
Property Reserve and Owner Balance
New features for Property Managers. Now you can add an owner reserve, minor maintenance requests, utilities, and emergencies for each property. It is also used to calculate the Owner Balance per property. Available in the PM mode only.
Automatic Owner Distributions
Now you can set up the automatic owner distribution invoices. The system will take the owner balance and required reserve and generate an invoice on a day you specify. Additionally, you can manage the month's distributions all on one-page and pay online (ACH only). Available in the PM mode only. Learn more
Maintenance Requests - Owner Approval
Your maintenance and repair issues are very important to us and we take them seriously. Whenever tenants submit maintenance requests, you can request the owner's approval. A property manager can now send up to 5 bids for every maintenance request to the owner for approval of repairs. All bids and their statuses will be added to the Maintenance Request Timeline. Available in the PM mode only.
Do you get stuck refunding application fees? Now you won't need to, as we've added a new feature to make the process easier. Landlords and PMs can now accept an application without charging the application fee but request it to be paid after the application has been reviewed. Check your Rental Application to enable this feature. Learn more
Some new Reports
Along with a few new reports, we have also improved some of the current reports. We are constantly listening to your suggestions and ideas to make your accounting better. Owner Statement Report shows all invoices and expenses in relation to a group of properties or specific property as it relates to an owner. Deposit Details Report gives the ability to review deposits during a specific date range. Within this date range, you can select to include only deposits for a specific property, unit, tenant, and type of liability category.
We place customer satisfaction at the highest priority. That is why we've added the option to evaluate customer support tickets. This will help us help you more. It’s high time to face the truth – TenantCloud can always do better!
Check out the new features in your account, tell us what you think and stay updated for the new cool stuff coming very soon!