All Forum Posts by: Rick S.

Hi George,

Thank you for the feedback as we understand the transaction fee may be a concern depending on the number of properties.  We are working on a monthly pricing option that would reduce the transaction fee, such as a set number of transactions included with a flat monthly amount then a lower transaction fee for any additional transactions.  For now you could consider splitting the transaction fee with the tenant as the service is convenient for them also and the tenant can elect to report their payments to Transunion through our service to build their credit history.  Thank you.

Rick

eRentPayment

Hi Chris,

We don't have any additional information on these companies shutting down, however we can definitely say that we are more than financially solvent here at eRentPayment due to a well established customer base and continued month-over-month company growth. We will continue to add new features, product options, and provide excellent customer service as we continue to position ourselves in the market to be here for years to come.

Hi Adam,

From what I can tell you want a monthly reminder sent to your tenant along with the ability for the tenant to submit a one-time payment, not to be required to use a recurring payment. With eRentPayment we offer both those options since we offer one-time or recurring payments along with our monthly and late reminder options that you set which day of the month they are sent out. We also offer an automatic Late Fee option if a one-time payment is submitted late or in the event a recurring payment doesn't clear and the tenant has to reprocess. If you have any other questions please let us know. Thank you.

Hi Isaac,

I work for eRentPayment and I thought I would answer your technical questions regarding our service:

- Partial Payments:  You can block partial payments as we have a setting to only block "Rent Payment" partial payments and still allow other payments, such as Utility payments, or you can block all partial payments.

- Late Fees: You can set late fees in the system and the renter can be required to pay the full rent amount plus the applicable late fees.  If you set up a property, you would set Setting #14 in the property screen to block all partial payments and Setting #18 to Yes for both options.

- Credit Cards: We do offer this option but you are correct that it typically isn't feasible unless you are processing a few card payments per month.  Regardless of any merchant account fees you are typically going to have high transaction fees with card processing, such as around 3% for credit cards, 1.5% for debit cards, so that can add up quickly compared to ACH processing costs.

- Reminders: We have a monthly reminder you can set that is always sent on a particular day of the month and we have a late reminder option that is only sent on a particular day of the month if a payment hasn't been submitted yet. These are sent by email as we don't call the renter though.

Hope this helps and if you have any other technical questions please let us know.  Thank you!

Regardless of whether you use our service, eRentPayment, please make sure you check whether you can pass surcharges to the renter as it is illegal in some states with the new credit card rules as we have been researching it with our service. If anyone has specific information related to surcharges and rental payments please share it here. Here is one link we found with more information: