Paylease through Rent Manager


#1

Hello,

I am thinking about purchasing Rent Manager and and considering using “Paylease” which is a service that Rent Manager integrates with to take streamlined payments from customers. Does anyone out there have experience using this payment method? How has it worked out?


#2

I use it, I think it is pretty handy. I have some tenants who are elderly and have a hard time managing their finances. So I have worked out agreements with them where they sign an ACH agreement allowing me to pull their rent from their account, typically set it up for the the day after they receive their social security.


#3

Thanks for the reply. Do you use the option where tenants can pay at the local Walmart, Kroger, gas station, ect? It’s a $4 flat fee that they pay. Do you take credit cards through Pay-lease as well? Thanks!


#4

We use it in our park. It is mandatory. We have not had any issues. I think everyone pays at Walmart. It updates Rent Manager automatically.


#5

Thanks for the response. Do you use the PayLease ACH or credit card options at all?


#6

We use Paylease with Rent Manager, but only the Cash Pay part. You will need to think about your tenant base and what would work, not work. Since 80% of our residents pay by MO, we decided Cash Pay was best.

Yes, people will pay the $4 for the convenience of paying at a Walmart when they are shopping and get the assurance it is being deposited directly into their account with us - no chance of MO getting lost, stolen, etc. The $4 cost is not much as there are some places that only have a $500 MO limit. Many of our residents given us 2 MOs to cover their mostly rents which ends up costing them $5-7 total.

PS: one odd fact with threw us off. Our mostly Hispanic park has very low Cashpay adoption while our mostly caucasian park has over 50% adoption. I am theorizing he hispanics are very weary of trying new things they are unfamiliar with.


#7

Thanks for the response. I am just learning Rent Manager.
Why don’t you accept the ACH direct deposit option? It’s $2,95 if they pay the fee, and $1.00 if the landlord pays the fee. I’m thinking about paying the $1. I’ll give the 2 options, either pay at Walmart, or do ACH for free. Either way rent collection is streamlined. That is so important. I’ve been collecting envelopes from the Post Office and depositing checks at the bank for way to long!
Any advice on is appreciated.


#8

We just started using rent manager and love it. Does Paylease allow for online payments as well?


#9

I am just starting RM as well. I purchased their “Tenant Portal” which is $75/mo. Using that portal, tenants are suppose to be able to make payments online. I have been so busy getting used to the software, that I have not set up the portals for the tenants yet.


#10

You totally should look into those options. Determine if that is an option that works for YOUR tenant base. If it makes sense and they will use it then by all means give it a try.

We polled our tenants and it was not something that made sense for our parks. But each park is different.

Remember:

  • learn your market
  • experiment
  • fail faster!

#11

Hi mobilehomepark!

Full Disclosure - I am a Rent Manager employee

I agree with Howard, go with what works best for your business. We’ve seen it set up both ways - adding the fee to the tenant or, if your company is able, paying the fee for the tenant. Most companies have found that the cost to use ACH compared to the time needed to process payments makes the option well worth it.

With Tenant Web Access, your tenants can make payments online, update personal contact information, and even submit maintenance requests. If you would like assistance setting up the portal, definitely give us a call at 800-669-0871 or submit a support ticket: https://www.rentmanager.com/customer-resources/customer-support/ They are a great group to work with and will gladly help get you up and running quickly.

PayLease is also a great resource if you are looking for advice on which payment option would work best.


#12

Hi Matt:

@Mattb I read that you have the CashPay as mandatory. I have heard that from a couple of other owners as well and would like to implement it at my properties. Can you share with me the letter you sent to your residents telling them the new program was mandatory?

Thank you,

Kevin


#13

Mine are mandatory too. Pretty simple letter. We’re switching to Paylease, no more dropbox.


#14

Hi @kris.hodges Thank you for your response! I am encouraged to hear that you are having success making the CashPay or pay online mandatory. Can you share with me the letter that you send to existing tenants that have been using the drop box?

Thank you,

Kevin


#15

Whats your email? I can send.


#16

@kris.hodges… Me too please! I have just started using Rent Manager/ PayLease and Cash Pay and I love it. But I still have tenants paying the office in cash (which is me) and as I would like to find a park manager soon, I want them to start using the Cash Pay or PayLease options and NOT pay at the office.


#17

Hi Kris,
Would you mind sharing your letter with me as well? christa @ west-prairie dot com


#18

Any other options besides Paylease out there? We are currently using Quick Books and are satisfied with it as we only own the lots and really do not need to use the other functions for Rent Manager. To use Paylease they need a minimum of 250 units, which we are a bit short of plus Quickbooks is about $30 a month for multiple users and Rent Manager is a $150 for only one user. The parks are bare bones older one star properties with Hispanic first generation tenants, we only accept money order for now.


#19

I have emailed paylease.com a few time asking if they were insured with no response. I have done some research on other potential companies and many of them do not even have a phone # on their website, nor an email address only a commet submit page.

I did a search and came across this thread : https://www.biggerpockets.com/forums/52/topics/499696-beware-of-fraud-by-erentpaymentcom?page=14

Any other thoughts om the viability on these companies? I was ready to switch over this month but I am having second thoughts. I know many have had good experiences but if they are not insured there is nothign to protect an executive or a wise hacker to do some damage.

further research check out their facebook page

Here are the latest developments in the eCheckIt bankruptcy proceeding so you are aware of the recent activity:

  1. An Adversary Proceeding was filed against our company. It alleged issues with the R07 and R10 requests made relative to rent payment returns. We moved the Court to dismiss those claims and are seeking clarification from the Court as to whether the held funds are property of the eCheckIt estate.

  2. The Court has ordered the trustee to find and retain an expert to trace the funds from the reserve account to their destination. At the last status update on 02/01/2018 the trustee advised that additional time was needed. The Court continued the status conference to 02/16/2018 in order to give the trustee additional time to retain the required expert.

  3. We have received some of the additional return information for disputed transactions so those records were updated in our system on 02/01/2018. We have requested additional information multiple times to ensure our information reflects the correct status for the pending items in order to submit our discovery information as requested by the court. We will continue to discuss options to receive the necessary information with the bankruptcy trustee.

We are working with our legal counsel to respond as quickly as possible to assist the bankruptcy trustee in resolving the matters delaying the proceeding and will continue to work towards addressing the held funds.


#20

I started using Rent Manager with PayLease about five months ago and I LOVE it. I know it costs a bit more than most want to pay but it has made collections management so easy for me. I figure the time it saves for me is worth the cost. I opted to give my tenants every choice in methods to pay me easily so they have zero excuse to be late at all. I do not allow late. LOL.