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Updated about 2 years ago on . Most recent reply

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Mike A.
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Dropping TenantCloud due to increase in fees. Who do you use?

Mike A.
Posted

Sadly we're moving away from TenantCloud as they are now going to be charging $1.25 per ACH transfer.  Since we have dozens of tenants, this is not going to go well.  We've already informed the tenants of the fees, and many are pretty pissed.  I understand CC fees, but ACH fees are not being received very well.

Why do you guys use?  

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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
41,287
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied
Quote from @Mike A.:

Sadly we're moving away from TenantCloud as they are now going to be charging $1.25 per ACH transfer.  Since we have dozens of tenants, this is not going to go well.  We've already informed the tenants of the fees, and many are pretty pissed.  I understand CC fees, but ACH fees are not being received very well.

Why do you guys use?  


ACH fees are pretty common. Is it really worth your time/effort to switch software over this?

Personally, I eat the ACH fee because I want to make it easy for my tenants to pay rent every month. I have almost 300 renters paying via ACH and it's worth every penny. As a Landlord, can't you afford to eat $1.25 a month in exchange for the comfort of knowing payments are on time? The cost of mailing a payment via check is $0.60 plus the time it takes to deposit it in the bank. ACH is cheaper, easier, and faster.

  • Nathan Gesner
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