ERENTPAYMENT - WARNING OCTOBER TRANSACTIONS NOT PAID

[Garrick Oconnell]

ERENTPAYMENT - Massive failure

Some payments made between

7:31:00 PM (PST) 10/3/17 -7:01:33 PM (PST) 10/12/2017. have not been distributed to landlords

BE ADVISED CHECK YOUR ACCOUNT AND ALL PROPERTIES FOR PAYMENTS PROCESSED OCTOBER 2017

A portion of the letter sent to landlords using Erentpayment below-

"Valued eRentPayment.com customers and affiliates,

Convenience and excellent customer service have been at the core of eRentPayment since I founded it thirteen years ago. But recently we let you down in both areas. For that, I am extremely sorry. Sorry for the frustration you’ve experienced, and for the amount of time it has taken us to try and correct the situation and provide you with more timely updates. Please know we are working around the clock with multiple entities to try and rectify the situation. We value your loyal partnership with us for your rental services and we promise to do better as we work to regain your trust.

In that spirit, we want to keep you apprised of recent developments with the situation that has disrupted our service, your business, and the lives of your tenants. First, the specifics on what happened.

A separate company which was handling payment processing for us, eCheckIt, has filed for bankruptcy protection. We have been told this occurred because eCheckIt’s processor Check Commerce placed a hold on its funds as a result of deficits incurred by other clients of eCheckit, not eRentPayment.com. This created a cascade effect that caused some eRentPayment users’ funds to get held in a pending status with Check Commerce. Unfortunately, designated recipients of the funds have not received payment. The transactions potentially affected were only those submitted after approximately 7:31:00 PM (PST) 10/03/2017 through approximately 7:01:33 PM (PST) 10/12/2017."

I have a total of 8 properties that pay rent through this service and only 1 property was effected so when I casually checked the bank account and saw the lump sum deposit it went unnoticed until logging into my account and searching. Please feel free to contact me if you have any questions. 

I am very upset because they only sent out a email an hour ago about this issue and they have obviously known for a while.