Many renters want a more convenient way to pay rent and are turning to peer-to-peer payment platforms like Zelle or Venmo. But are these your best options when it comes to paying your rent online? In this article, we will look at the pros and cons of paying and collecting rent with Zelle and what the risks are to both landlords and tenants. We will also examine how PayRent‘s services compare.

Pros and Cons of Paying Rent with Zelle

Banking Limitations

When using Zelle for rent, you’ll have to bank with an institution that supports the payment platform. Many major banks such as Bank of America, Chase, and Wells Fargo work with Zelle. Unfortunately, smaller banking institutions and credit unions do not. This can be a problem if tenants don’t currently bank with a partnering company as they will have to create a new bank account or send payments through another method.

PayRent works with all financial institutions and major credit cards. Setting up your bank account is easy and can be done with your existing bank login for most major banks in the United States.

Transfer Limits

Depending on your bank, Zelle has payment limits as low as $500 per day, as a protection against fraud. Most limits are about $2500 per day. However, if your rent is any higher than that, you’ll have to make payments over several days which can lead to accounting hassles.

PayRent has a daily transfer limit of $50,000, so unless you’re paying rent for a palace, we’ve got you covered.

Automatic Rent Payments

Many renters enjoy the convenience of automatic payments for reoccurring bills. They simply set the amount and date to transfer the funds. Payments are automatically made so they never have to worry about being late on a payment.

The option to set up automatic payments on PayRent is coming soon. Currently, PayRent stores your payment method so making a rent payment can be done in just a minute or two once your account has been set up. PayRent is also cloud-based and mobile responsive so landlords and tenants can access all data and features regardless of what device they are on.


Zelle does not give renters the option of paying their rent with a credit card. All money must be available in the renter’s bank account when the payment is submitted.

PayRent allows tenants to pay rent with a credit card, giving them added cashflow flexibility. It also allows renters to earn points, miles, and rewards from their credit card companies while making an essential purchase. PayRent also gives the option to renters to report their on-time rent payments to major credit bureaus to build their credit. PayRent charges a transaction fee of 3.5% of the payment amount plus $0.30 for credit and debit card payments.

Landlord Payment Protections

Landlords are not able to deny an incoming payment through Zelle. This can lead to problems if the landlord is attempting to evict a tenant and a partial payment is made. Landlords also have no way of enforcing their late payment policies if payments can still be made after a certain cut-off.

PayRent gives landlords the tools they need to protect themselves from partial payments. Landlords can block partial payments, stop all payments on a property, and enforce late fees for payment made after a certain time.

Renter Payment Protections

One reason to think twice before sending money through Zelle is that if you accidentally send money to the wrong person, there is no way to recover the payment.

With PayRent, you can only send payments to landlords who have created an account and sent you an invitation. This ensures that your payments go to the correct person each time.


Zelle is fast and free, and if you aren’t worried about the risks we have presented above, it could be a great option for you and a tenant that you trust. PayRent charges fees for each transaction. ACH fees can be split between landlord and tenant or paid in full by either the landlord or tenant. We pride ourselves on robust customer service and security so you know your funds are safe in our hands. Landlords and renters are notified each time a payment is made and funds are available within 2-5 days.

PayRent is on a mission to build a rent collection app that fosters a positive and productive relationship between renters and landlords. We focus less on transactions and more on the people behind them.