For most landlords, collecting rent can be rife with challenges. PayRent will help you get paid on time with minimum aggravation and reward your renters for their on-time payments.
PayRent goes beyond transactions to give landlords the payment controls they need to never miss a month’s rent. Set due dates, require automatic payments, block partial payments, offer incentives for paying early, and enforce your late rent policy with automatic late fees.
PayRent helps renters iron out cash flow problems by giving them the option to pay rent with a credit card. Additionally, renters with a history of paying their rent on time have access to emergency, interest-free loans to help cover their rent- so that their cash flow problem doesn’t become your cash flow problem.
A win-win for both landlords and renters, reporting rent payments encourages consistent on-time rent payments and rewards renters for what is likely their biggest monthly financial obligation.
Full-file credit reporting to all three major credit bureaus is included in all service plans at no extra charge.
Nervous about making the leap to digital rent payments? Don’t be! PayRent’s easy-to-use property management makes collecting rent payments a snap.
Backed by one of the largest financial institutions in the world, PayRent uses bank-level cyber security protocols to ensure that your personal and banking details are always protected.
Any rent collection platform only works if your renters use it- that’s why we reward your renters for making their payments on time with our RentCred program.
RentCred is an exclusive renter rewards program that boosts your renter’s credit scores with free credit reporting. In addition, renters who have a history of on-time payments unlock perks like late fee forgiveness and access to emergency, interest-free loans for rent.
It’s time to end the hassle and stress that comes with collecting rent payments.
Sign up for our rent collection app is quick and easy. You’ll need your federal tax ID (SSN or EIN) and banking information to get started. We’ll verify your identity on the spot to make sure payments can be safely transferred. You’ll be ready to accept rent payments in about 5 minutes.
Once you’re enrolled, adding rental units is a snap. Each unit can have its own settings for payment due date, partial payment acceptance, and blocking payments. Transaction fees can also be absorbed, passed along to the renter, or split between both parties.
Add your tenants to the platform and we’ll send out an email invitation for them to join the service then help them through the process of adding a payment method. We’re standing by via chat and phone to help them get up and running quickly.
For part-time landlords with less than 10 units
For full-time landlords with 10 or more rental units
For professional property managers with 25+ units
No. PayRent can deposit your rent payments to any bank with branches in the United States, usually within 3 days from when rent payments are made.
As a landlord, you have the option to absorb the ACH transaction fees or pass them through to your renter.
Yes. Our maximum per transaction is $50,000 USD. However, there is no limit to the number of transactions per month or per property. Splitting rent payments into multiple transactions is acceptable.
Making rent payments using a credit card is considered to be a convenience for a renter and is significantly more expensive than ACH. Renters pay all credit card transaction fees. There is no option for landlords to absorb or split these fees
Yes. You can create as many PayRent accounts as you need. Many Landlords create separate accounts for each property or group of properties. You will need a unique email address for each account.
Yes. each property has an option to prevent payments which can be manually toggled on or off at your convenience.
Once you are signed up and logged in to your dashboard, you have the ability to send an invitation to your renters via email. They can click on the link in that email and sign-up for the service.
Internal Revenue Service rules require that we distribute an IRS 1099-K only if you exceed more than $600 in rent payments annually through our service.
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.