Everything landlords need to know about RentSpree Payments

It’s the first of the month and rent is due. Landlords can often find themselves up at night worrying about missing payments and, in extreme cases, dealing with fraud or even no payment at all. Considering 15% of renters, or nearly 8.4 million Americans, were behind on their rent, many of these fears are legitimate concerns. 

But collecting rent and other fees doesn’t have to be nightmare-inducing. In fact, the right platform can make payments a simple, convenient, and secure process for any landlord regardless of how many properties they own. Read on to learn how RentSpree Payments can streamline the collection process and ensure rent is paid and deposited into your account on time, every time. 

RentSpree makes rent payment simple

Landlords already have a number of responsibilities they juggle on a daily basis—they don’t have time to chase down rent payments or stress about manual bookkeeping. With a rent collection platform like RentSpree, landlords can use one platform to:

• Collect security deposits
• Request one-time fees
• Schedule recurring rent payments

In addition to facilitating transactions, landlords also need a tool that can help them keep track of payments and ensure the security of their deposits. RentSpree Payments provides landlords with peace of mind as all payments are processed through Stripe and require identity verification to minimize fraudulent activity. 

Convenience at your fingertips

Setting up RentSpree Payments is quick and easy, with landlords able to start collecting payments almost immediately. With payments, landlords no longer have to chase paper checks to get paid on time and tenants can pay with the method that works best for them so rent is always on time and in full. 

Safe, secure transactions

Landlords can rest easy knowing their money is protected and all financial transactions are processed through Stripe, which requires additional identity verification to prevent fraud. RentSpree’s robust security measures ensure your money is always secure and deposited safely into your account. Additionally, because all payments are collected online, landlords don’t have to worry about lost or stolen checks in the mail, ensuring payment is always transferred on time. 

Payments you can count on

With RentSpree Payments, landlords can automate their payment collection and set recurring reminders so renters always know when rent is due. Once payments are set up, renters can automatically schedule their rent so payments are sent on time, giving landlords peace of mind. Renters simply have to set up their recurring transactions and don’t have to worry about manually sending rent every month. 

Full visibility into your finances

Ditch the paper tracker and say goodbye to complex Excel spreadsheets. With RentSpree Payments, landlords can easily track and manage all their payments in one unified dashboard. Landlords can see which payments are past due or upcoming, document every transaction regardless if it happened outside the RentSpree platform, and check the status of any in-progress payments. 

More rent payment, less hassle

Collecting rent and other fees related to your property doesn’t have to be stressful or require excess paperwork. With RentSpree Payments, landlords can manage all of their financial transactions in one easy-to-use, online platform, maximizing their rental income while protecting their peace of mind. 

Ready to embrace the future of rent payments and collection with RentSpree? Get started here. 

RentSpree Payments FAQ

How much does it cost to use RentSpree Payments?

To ensure secure, reliable, and convenient rent collection we charge the following fees:

For landlords: $3 processing fee for each recurring rent payment transaction.
For renters: Free bank transfers (ACH). 3% fee for credit and debit card payments.

What payment options are available with RentSpree Payments?

Tenants can pay with credit card, debit card, or ACH bank transfer.

How do I set up Payments?

At this time, only landlords can set up Payments. Here is a helpful video tutorial to help landlords get started. 

Can tenants make a partial payment?

At this time, tenants cannot make a partial rent payment. They can only pay the designated rent amount or the full amount of any one-time fees or security deposits as initiated by the landlord.

How long does it take for payments to process?

Depending on how the tenant completes their payment, it can take 3-5 business days for a bank transfer to be processed and 2 business days for a credit card payment. 

Is RentSpree Payments secure?

RentSpree partners with Stripe, an industry leader, to provide the most secure payment options. Landlords and tenants will never have to provide their account information to RentSpree; simply enter your banking credentials through Stripe to verify your information and complete your Payments set up.