BEWARE of fraud by erentpayment.com

[Karen Higgins]

We are currently in the middle of a scam by erentpayment.com.  They have taken money deposited by our tenants and have refused to pay us.  They have been very limiting with information and turned their phones off and are not replying to emails.  Cancel all automated payments if you currently use their system.  We are starting the legal process to take action.  I'm guessing they have taking hundreds of thousands of dollars from people.  Help spread the word so others are not hurt by this.

[Matt Higgins]

My wife found this company on bigger pockets.  She most definitely is in the right, and boarder line obligated to inform the public that a company that used to accept payments from tenants, and disburse the funds to landlords is no longer longer disbursing the funds to landlords.  Furthermore, they have shutoff their phones and customer service department, not updated their customers as to the status of their funds, and refused to name their banking institutions or legal representation that they are using.  

This is most certainly a fraud, and a large one. If not, they should be updating their customer base as to where their money is at, and when they will get it. This rent collection and payment scheme is the perfect Ponzi scheme. They take a clients money and can move it from bank to bank like it's their own money. (Matt, thats apparently what you think happened). Thus, proving the lack of oversight involved in this kind of business/industry. As long as they can grow their customer base the scheme continues. The creator doesn't even have to put himself out there as the frontman of the scheme, and can hide behind an LLC. Interestingly, Rick S is a "pro" member, claims to be the manager or owner, and has 397 post on bigger pockets. I encourage him to comment, or better yet send me my 13,000$. At this point I doubt either will happen.

I hope I'm wrong, but when the company shuts off the phone and fails to deliver on the "updates" they promise.  You have to fear the worse.  This company is still accepting "new" money and the public needs to know.  I don't want to come across as confrontational, but the public needs to be made aware of the problem/fraud.