Collect Rent Efficiently
Keeping up with the ever-changing digital landscape doesn’t have to be difficult. PayRent’s rent collection app offers a simple and secure way for landlords to collect rent online.
Gone are the days of picking up cash or checks and handwriting receipts. With PayRent, your renters can submit their payments online from any connected device. You’ll receive a notification when a payment is made and the funds will be directly deposited into your bank account.
Use PayRent to collect security deposits, monthly rent charges, repair costs, utility bills, pet rent, parking and garage fees, and more.
RentDefense™ is a collection of features and controls available only on PayRent. RentDefense protects landlords from late and lost rent with rent collection tools and controls available only on PayRent. Using all of these features together helps to minimize the risk of not getting paid on time.
RentDefense features:
- Bank balance verification
- Require backup payment method with automatic failover
- Require scheduled payment
Find Great Tenants
Sleep easier at night knowing that your property is in good hands. Finding great tenants is worry-free when you use a trusted tenant screening service.
Shop our in-app marketplace for background checks, criminal checks, tenant history, and credit score reports from one of our trusted partners.
Automate Everything
Stop spending your valuable time on tedious to-do lists. Delegate your monthly tasks to PayRent.
We’ll automate invoicing, rent reminders, rent receipts, balance tracking, payment history, and credit reporting. Generate reports in-app and upload them to your preferred accounting software.
Tenants can automate their rent payments by scheduling one-time or recurring payments through the tenant portal.
Finance Repairs and Rehab
Running a rental business can also mean running into unexpected financial strains. Whether you’re expanding your investment portfolio, managing lost rent, or funding emergency repairs and renovations, PayRent can provide the capital you need.
PayRent works with 75+ Lenders to generate offers to match your specific business needs. We are here to support your business growth.
How to PayRent
The Simplest and Most Convenient Rent Collection App
1. Sign up for free
Signing 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.
2. Add your properties
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. On some service plans, transaction fees can also be absorbed, passed along to the renter, or split between both parties.
3. Invite your renters
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.
Frequently Asked Questions
You’ve got questions. Here are some of the most common ones people ask. If your question is not answered here, chat with us
Do I need to bank with a specific bank?
No. Like most rent collection apps, 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.
Is there a maximum transaction limit?
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.
Can I create more than one PayRent account?
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.
How do my renters enroll in the service?
Once you are signed up and logged into 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.
What are the options for paying ACH transaction fees?
As a landlord, you have the option to absorb the ACH transaction fees, pass them through to your renter, or split a percentage of the fees between both parties.
Who pays for credit card transaction fees?
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.
Can I prevent renters from making payments?
Yes. Each property has an option to prevent payments which can be manually toggled on or off at your convenience.
Will I receive a 1099K?
Internal Revenue Service rules require that we distribute an IRS 1099-K only if you process more than $600 in rent payments annually through our service.
