Can my tenants enable Auto Pay for recurring lease transactions?
TenantCloud provides your tenants with an Auto Pay option that automatically schedules and deducts monthly payments from their bank accounts using the TC Payments powered by Dwolla online payment method. Your tenants can set up Auto Pay for recurring lease transactions.
Your tenants can enable Auto Pay only if:
- You and your tenant are connected within the system
- You have an active lease and it's shared with the tenant
- The tenant has set up TCPayments powered by Dwolla and added and verified at least one bank account
- The tenant has a recurring lease transaction with a monthly schedule
When turning on the Auto Pay option, your tenants will need to select the bank account from which the specified amount will be automatically withdrawn, an end date when the Auto Pay option will be deactivated, and the number of days before the due date to initiate payment.
If your tenants are on separate lease invoicing, they must set up the original invoice's amount. If tenants are on combined lease invoicing, then each roommate can enter their own portion of the amount they want to be automatically withdrawn from their bank account.
If your tenant turns on the Auto pay option for a specific recurring lease transaction, then this transaction cannot be edited/deleted by the landlord or property manager. It can only be voided, if necessary.
The Auto Pay option will be automatically turned off in the following cases:
- If the lease status changes from active to past/ended
- If the recurring lease transaction amount/category is edited by the landlord or property manager
- If the lease is deleted by the landlord or property manager
- If the landlord or property manager resets or deletes their account
- If Dwolla suspends the tenant's TCPayments powered by Dwolla account
- If the tenant's bank account is deleted
- If the landlord or property manager's TCPayments account is not active
Tenants can turn off Auto Pay at any time and the system will stop automatically withdrawing funds from their bank account. Further payments can be initiated manually.
Apr. 9th, 2019