As a landlord, you may be asking yourself, why use LeaseRunner for collecting rent, when competitors allow free ACH payments?
Larger companies may be able to offset the cost of collecting ACH payments from your tenants, because they charge for listing properties instead.
Our $5.00 ACH fee can be paid by the tenant or the landlord, and the majority of our landlords ask the tenant to pay the $5.00 ACH fee.
We charge a fee to pay for the software that runs the ACH payment portal and for the use of the ACH system. ACH processors pay a fee to their bank to have this service.
If the funds from the tenant do not clear, we are charged a fee, which we absorb and do not charge to the landlord or tenant. So, you are insulated from any NSF fees charged by your financial institution if a payment fails.
For tenants paying rent, the fee is quite reasonable when viewed as a percentage of the rent payment. For example, if your rent is $1,650 the fee amounts to 00.24% of the payment.
You can manage who pays the ACH fee by going to Properties >> Edit Lease Terms >> "Who Pays ACH Fee?".
Finally, we have great customer support, so if an issue arises we are here to help via phone or email, where a person (and not a bot) will help answer questions or resolve issues.