Rent and Security Deposit Supplemental Terms

‍IMPORTANT NOTICE: RENTSPREE’S TERMS OF SERVICE INCLUDE AN AGREEMENT TO MANDATORY ARBITRATION, WHICH MEANS THAT YOU AGREE TO SUBMIT ANY DISPUTE RELATED TO YOUR (OR YOUR ORGANIZATION’S) USE OF THE RENT AND SECURITY DEPOSIT PAYMENT SERVICES (THE “RENT PAYMENT SERVICES”) TO BINDING ARBITRATION RATHER THAN PROCEED IN COURT, UNLESS YOU OPT OUT AS DESCRIBED IN THE TERMS OF SERVICE.  RENTSPREE’S TERMS OF SERVICE ALSO INCLUDE A JURY WAIVER AND A PROHIBITION OF CLASS ACTIONS. BY USING THE RENT PAYMENT SERVICES YOU AGREE TO BE BOUND BY THESE SUPPLEMENTAL TERMS (“RENT PAYMENT TERMS”) AS WELL AS THE TERMS OF SERVICE INCLUDING, BUT NOT LIMITED TO, THE PROVISIONS RELATED TO ARBITRATION, JURY WAIVER, PROHIBITION OF CLASS ACTIONS AND DISPUTE RESOLUTION.  THIS MEANS THAT WHEN YOU USE THE RENT PAYMENT SERVICES YOU AGREE TO BE BOUND BY BOTH THESE RENT PAYMENT TERMS AND THE TERMS OF SERVICE.

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If there is a conflict between the Terms of Service and these Rent Payment Terms, these Rent Payment Terms will control.

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THESE RENT PAYMENT TERMS ARE A LEGAL AGREEMENT BETWEEN YOU AND RENTSPREE AND GOVERN YOUR USE OF THE RENT PAYMENT SERVICES. THE RENT PAYMENT SERVICES ARE PROVIDED BY RENTSPREE, INC. (“RENTSPREE”, “US”, “OUR” OR “WE”). BY CLICKING THE “I ACCEPT” BUTTON, OR SIMILAR BUTTON INDICATING YOUR AGREEMENT, OR OTHERWISE USING THE RENT PAYMENT SERVICES, YOU REPRESENT THAT YOU’VE READ, UNDERSTAND AND AGREE TO BE BOUND BY THESE RENT PAYMENT TERMS AND THE TERMS OF SERVICE. IF YOU DON’T AGREE WITH THESE RENT PAYMENT TERMS AND THE TERMS OF SERVICE, YOU MAY NOT USE THE RENT PAYMENT SERVICES.

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RentSpree may update these Rent Payment Terms from time to time. When material changes are made, RentSpree will make reasonable efforts to provide notice to you, and changes to fees or to recurring payment amounts will be made only as described in Sections 3 and 6 below. Except as provided in those Sections, your continued use of the Rent Payment Services after updated Rent Payment Terms are posted constitutes your acceptance of the updated Rent Payment Terms. We encourage you to regularly check the Terms of Service and these Rent Payment Terms to view the most current terms. In addition, by using the Rent Payment Services you agree to be bound by RentSpree's Privacy Policy.

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By accessing the Rent Payment Services on behalf of an organization, you represent and warrant that you have the authority to bind that organization to these Rent Payment Terms, that you’ve read and understand the Rent Payment Terms, and on behalf of the organization you represent, you agree to the Rent Payment Terms. All references to “you” and “your” include you and the organization you represent and any authorized user of the Rent Payment Services in that organization, or you personally if you are not accessing the Rent Payment Services on behalf of an organization. You may access the Rent Payment Services only if you understand, agree and accept the Rent Payment Terms. If you don't have legal authority to bind your organization to these Rent Payment Terms or do not agree with these Rent Payment Terms, you may not use the Rent Payment Services.

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1. Rent Payment Services

The Rent Payment Services enables landlords, real estate professionals and property managers (together, “Landlord(s)”) to accept payments of rent and security deposits as well as utility, pet, parking, cleaning, move-in fees, lease termination, late fees, proration and other payments from tenants (“Tenants”) via ACH, credit card or other means (each, a “Payment Method”).

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In order to use the Rent Payment Services, Landlords must enter into an agreement with a Third-Party Service Provider (defined below). The Third-Party Service Provider facilitates the acceptance and settlement of funds to Landlords.  Additionally, both Tenants and Landlords must establish an Account (defined below) with RentSpree  in order to use the Rent Payment Services and Landlords must set the appropriate payment amounts due for each Tenant in the Landlord's Account. Landlord represents and warrants that any payment amount due is accurate and in accordance with the terms of any lease or other agreement between Tenant and Landlord, and that all amounts, fees and charges Landlord requests through the Rent Payment Services (including late fees, move-in fees and any fee for paying by a particular Payment Method) are permitted by, and comply with, all applicable federal, state and local laws.  Landlord is responsible for all billing errors or inaccuracies.  

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If you are an agent or other real estate professional and are facilitating the collection of security deposits on behalf of tenants or landlords, you represent and warrant that you have the authority to do so and that you are not barred from doing so by applicable law or the rules and regulations of any applicable brokerages, MLS, realtors or similar organization.

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RentSpree does not actually or constructively receive, hold or transmit funds in connection with the Rent Payment Services. Landlord authorizes and appoints RentSpree to obtain any necessary payment authorizations from Tenant on Landlord’s behalf.  Nothing in the foregoing will impose a responsibility on RentSpree for Tenant payments, including failed payments. Payments are processed, authorized and settled to Landlord in accordance with the agreement between Landlord and Third-Party Service Provider.

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2. Registration

To access and use the Rent Payment Services you must become a Registered User, which is a user who has registered an account on the Platform (“Account”).  By registering an Account you agree (a) to provide true, accurate, current and complete information about yourself as prompted by in the registration process (the “Registration Data”), (b) to maintain and promptly update the Registration Data to keep it true, accurate, current and complete, and (c) represent and warrant that you (i) are at least eighteen (18) years of age, (ii) have the right, authority and capacity to enter into these Rent Payment Terms (on behalf of yourself or the entity you represent), and (iii) are not barred from using the Rent Payment Services under the laws of the US, your state or city or any other applicable jurisdiction.  You are responsible for all activities that occur under your Account.  You agree that you will monitor your Account to restrict use by non-authorized users and you accept full responsibility for any unauthorized use or access of your Account by any unauthorized user.  You may not share your Account or password with anyone, and agree to notify RentSpree immediately of any unauthorized use of your password or any other breach of security. If you provide any information that is untrue, inaccurate, not current or incomplete, or RentSpree has reasonable grounds to suspect that any information you provide is untrue, inaccurate, not current or incomplete, RentSpree may suspend or terminate your Account and refuse you any current or future use of the Rent Payment Services and RentSpree’s other services.  You agree not to create an Account using a false identity or information or on behalf of someone other than yourself and agree not to create an Account or use the Rent Payment Services if you’ve previously been removed or banned by RentSpree in connection with any of its services.

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As part of the Account registration process we and the Third-Party Service Provider may require you to provide an image of your government-issued photo ID, a photo of yourself, as well as some basic identification information, solely for identification verification. Where identity verification involves comparing your photo to your ID, you consent to that processing as described in RentSpree’s Privacy Policy and the Third-Party Service Provider’s privacy policy, and we will obtain any additional consent required by applicable law before it occurs. Click here for information on how Stripe, our current Third-Party Service Provider, processes your data.

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3. Recurring Payments; Security Deposit

If Tenant agrees to recurring automatic payments using the Rent Payment Services, Tenant hereby authorizes RentSpree on behalf of Landlord to charge or debit Tenant’s Payment Method for the total monthly payment amount as stated in Tenant’s Account, plus applicable fees, on a recurring monthly basis. Tenant’s authorization will remain in full force and effect until the recurring payment is ended by Tenant or Landlord in accordance with these Rent Payment Terms.

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Before each recurring payment that differs in amount from the prior payment (for example, because of a rent change, a late fee or a utility charge), RentSpree will notify Tenant of the new amount and payment date at least 10 days before the payment date. If a change in the recurring amount is outside the amount Tenant authorized, RentSpree will obtain Tenant’s new authorization before charging the new amount. RentSpree will provide Tenant with a copy of each recurring payment authorization. Tenant may stop or cancel a recurring payment online through Tenant’s Account at any time up to 3 business days before the scheduled payment date; stopping a payment through the Rent Payment Services does not relieve Tenant of any obligation to pay Landlord under Tenant’s lease.

If Tenant agrees to pay security deposit to Landlord using the Rent Payment Services, Tenant hereby authorizes RentSpree on behalf of Landlord to charge or debit Tenant’s Payment Method for the total security deposit, plus any applicable fees. Landlord acknowledges and agrees that they are solely responsible for compliance with all applicable security deposit laws and regulations, including, but not limited to, those requiring placement of security deposits into escrow- and interest-bearing accounts, limits on the amount of security deposits, and requirements for the timely return of security deposits. Please note that RentSpree does not currently have an ability to return security deposits to Tenants; Landlord is solely responsible for returning any security deposit to Tenant as required by law and the lease.

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For questions on managing recurring payments or your RentSpree account, please visit support.rentspree.com.

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4. No Responsibility for Non-Payment and Associated Fees

The Platform and Rent Payment Services enable Landlords to receive payments from Tenants that are processed by the Third-Party Service Provider pursuant to an agreement between Third-Party Service Provider and Landlord. RentSpree is not a party to, and is not responsible for, payments processed by Landlord via the Platform or the Rent Payment Services. Without limiting the foregoing, the Platform provides information to Tenants and Landlords regarding status of payments processed by the Third-Party Service Provider on behalf of Landlord, and RentSpree may assist Tenant to address any discrepancies, issues or concerns with such payments in accordance with these Rent Payment Terms.

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If Tenant’s rent, security deposit or other payment is rejected, fails or is otherwise unsuccessful, Tenant acknowledges and agrees that it is their sole responsibility to initiate a new transaction or make payment to the Landlord in another manner.  Tenants will be notified of such rejection or failed payment by RentSpree. Tenant will be responsible for all returned-payment, chargeback and similar fees associated with such rejection or failure that are disclosed to Tenant before Tenant makes the payment, to the extent permitted by applicable law and Tenant’s lease. RentSpree reserves the right to charge Tenants for such fees either directly or on Landlord’s behalf. Tenant acknowledges and agrees that Landlord reserves the right to seek payment through or outside of the Rent Payment Services if no payment is received through the Rent Payment Services, in accordance with an applicable lease.  Landlord acknowledges and agrees that RentSpree has no responsibility for the non-payment of rent, security deposit or other payment by Tenant, including but not limited to any non-payment arising from insufficient funds, chargebacks, reversals, claims or any other unsuccessful or canceled transaction or for any disputes between Landlord and Tenant arising with respect to any payment or non-payment.  Landlord will look solely to Tenant for payment or, if the rejection or failure for payment lies with the Third-Party Service Provider, Landlord will look solely to the Third-Party Service Provider.

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RENTSPREE IS NOT A COLLECTION COMPANY AND DOES NOT, IN ANY WAY, GUARANTEE TENANT’S PAYMENT OF RENT, SECURITY DEPOSIT OR OTHER FEES.  RENTSPREE DOES NOT TAKE ON ANY RISK ASSUMED BY EITHER PARTY IN CONNECTION WITH ANY TRANSACTION CONDUCTED THROUGH THE RENT PAYMENT SERVICES.

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5. Reversals of Payment

Landlord acknowledges RentSpree’s right, but not obligation, to investigate any transaction for potential fraud.  RentSpree reserves the right to direct the Third-Party Service Provider to reverse Tenant payments or take any other actions it deems necessary in the event RentSpree suspects fraud has occurred.

If a Tenant, Third-Party Service Provider or provider of Payment Method initiates a reversal, chargeback or disputes a payment, Landlord hereby authorizes RentSpree and the Third-Party Service Provider, in accordance with the policies and procedures of Landlord’s applicable financial institution, to initiate a transaction reversal or otherwise debit funds from Landlord’s bank account or Account.

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If a Third-Party Service Provider is unable to reverse or otherwise debit funds from Landlord’s account, Landlord will promptly deposit such funds into Landlord’s Account at RentSpree’s request.

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Nothing in the foregoing will be construed to modify or limit any rights or obligations with respect to any agreement between Landlord and Third-Party Service Provider.

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6. Fees

You agree to pay all fees or charges for the Rent Payment Services and any related charges in accordance with RentSpree’s terms in effect at the time a fee or charge is incurred, as disclosed to you before you authorize the payment, and payable when due. The applicable agreement for your Payment Method governs your use of the Payment Method for payments to RentSpree, and you must refer to that agreement, not these Rent Payment Terms or the Terms of Service, to determine your rights and liabilities. By providing RentSpree with your payment information, you authorize RentSpree to immediately charge your Account for all fees and charges due and payable to RentSpree hereunder in accordance with these Rent Payment Terms. You agree to immediately notify RentSpree of any change in your billing address or related information or Payment Method. RentSpree reserves the right to change its prices and billing methods. If RentSpree increases a fee that applies to recurring payments you have already set up, RentSpree will notify you by email (or by another method you have selected) at least 7 days and no more than 30 days before the new fee takes effect, and you may cancel those recurring payments before then. A fee change will not apply to any payment you authorized before the change was disclosed to you. Fees paid under these Rent Payment Terms are in no way considered payment for the sale, license or use of RentSpree’s software.

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7. Financial and Payment Data

Both Tenant and Landlord represent and warrant that the payment and financial information provided to RentSpree (including the Registration Data) is true, accurate, current and complete.  Tenant hereby consents and authorizes RentSpree to disclose any information provided by Tenant through the Rent Payment Services to Landlord and/or Third-Party Service Provider in order to provide the Rent Payment Services.

RentSpree currently uses Stripe, Inc. (“Stripe”) as the Third-Party Service Provider for applicable payment services (e.g., ACH payments, card acceptance, merchant settlement and related services) (“Third-Party Service Provider”).  By making any payment through the Rent Payment Services, you agree to be bound by Stripe’s Privacy Policy, Services Agreement and any other applicable policies and hereby consent and authorize RentSpree and Stripe to share any information and payment instructions you provide to each other and any payment providers to the extent required to complete your transactions.

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RentSpree also uses Plaid Inc. (“Plaid”) to collect data from financial institutions.  By using the Rent Payment Services, you consent and authorize Plaid to transfer, store and process any information, including financial information collected from you or your financial institution in accordance with the Plaid Privacy Policy and for RentSpree and Plaid to share such information to the extent required to provide the Rent Payment Services.

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RentSpree reserves the right to change Third-Party Service Providers.  If we do so, we will notify you at least 30 days in advance (or as soon as practicable if the change is required by law or by the outgoing provider) and you will be subject to the terms and conditions of that new Third-Party Service Provider. If you do not wish to utilize the new Third-Party Service Provider, you may terminate the Rent Payment Services in your Account.

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8. Interactions with Other Users

You are solely responsible for your interactions with other Registered Users and any other parties with whom you interact; provided, however, that RentSpree reserves the right, but has no obligation, to intercede in such disputes. You agree that RentSpree will not be responsible for any liability incurred as a result of such interactions.

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Other Terms and Conditions

For all other terms and conditions, including, but not limited to, User Conduct and Acceptable Use; Intellectual Property Rights and Use of Data; Personal Information, Data , Rights and Confidentiality; Security Breach Notification; Trademarks and Ownership; DMCA Compliance; Disclaimer, Liability and Indemnification; Dispute Resolution (including the 30-day arbitration opt-out right); Notice; Governing Law; and other general terms (including Compliance with Law, Severability, Entire Agreement, Waiver, Relationship of the Parties, Assignment and Survival), please consult our Terms of Service.

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Questions or Concerns?

We’re here to help. If you have questions about these Terms, please reach out:

• General support: [email protected]
• Privacy and data requests: [email protected]
• Legal inquiries: [email protected]

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