RentPayment Review

Rates and Fees
75/100
Truth in Advertising
80/100
Consumer Reviews
60/100
Customer Support
60/100
3.3

Best for

RentPayment is best suited for industries such as real estate, property management, and businesses of all sizes.

Specializes in

RentPayment is a payment processing service that makes it easy for tenants to pay rent online Landlords, merchants, property owners, and millions of tenants utilize this service every month. Tenants can pay via debit, credit, check, or mobile payments.

Pricing Summary

Setup Fee: $0

Monthly Fee: $0

Swipe Rate: N/A

Keyed-in Rate: 2.95% (Credit Card Rate); 0.95% (Debit Card Rate); $295 (eCheck/Debit ACH Fee)

Early Termination Fee : Undisclosed

Contract Terms:

Month-to-month
Visit RentPayment

RentPayment was launched in 1999. It was founded by Matt Golis and is a subsidiary of Yapstone Inc. RentPayment is a registered ISO/MSP of Wells Fargo Bank, NA in Walnut Creek, CA. It is also headquartered in Walnut Creek, CA. It employs over 200 people.

RentPayment Overview

 

RentPayment is a payment service and processing platform designed to make it easy to pay your rent online. It is utilized by landlords, property owners, and tenants regularly. Its focus is squarely on real estate. Its pricing model is a simple interchange percentage on cards and a $4.99 fee on checks and ACH payments. Credit cards pay 2.95% on a transaction, while debit cards are charged at a rate of 0.95%. RentPayment’s overall reputation is positive While it has a noticeable amount of online complaints, it is a relatively small percentage when compared to its number of users.

Quick Facts

Head Quarters

Dallas, TX

Year Founded

1999

CEO

Matt Golis

Employees

200

Merchant Provider Risk Tolerance

What We Like

What We Don't Like

Industries Served

  • Hosting
  • Property Management

Business Types Served

  • Low Risk
  • Small Business

RentPayment Products & Services

 

Point 1: Processing of Debit, Credit, Check/ACH, Mobile Payments


RentPayment allows tenants to pay through various methods and removes the necessity of traditional checks to be used to pay your rent. It should be noted that RentPayment still allows tenants to pay via traditional checks if preferred. RentPayment processes debit cards, credit cards, and mobile payments to offer a tenant the most flexibility possible when paying rent. Most landlords who use this service claim it’s a far more convenient way for them to collect rent.

Point 2: Payment Systems Integration


RentPayment also integrates into several other payment systems. This is especially useful for older pieces of property or property owners using an older system. It removes any hassle from transferring details and information and shifts the entire process into a new method entirely. Some of the most significant real-estate systems integrate well with RentPayment.

Point 3: Online Rent Payments


RentPayment’s most prominent, and convenient, feature offered is its ability to allow tenants to pay their rent online. This reduces the chance of people missing their rent and paying late fees by allowing them to pay conveniently from anywhere. Both landlords and tenants alike tend to find this service to be convenient.

RentPayment Payment Processing

  • Credit Card Processing
  • Debit Card Processing
  • eCheck & ACH Processing
  • Mobile Payments App

RentPayment Billing & Invoicing

  • Mobile Payments
  • Online Payments
  • Payment Processing

RentPayment Advertising & Sales

 
RentPayment uses telemarketing and inside sales agents to market its services. This is relatively normal for most companies. In the realm of merchant account providers, the lack of independent salespeople is usually a good sign, since it generally implies there is a well-trained sales staff. There are no noticeable complaints about RentPayment’s sales team.

RentPayment does not appear to mislead or involve itself in any kind of false advertising. Some tenants have made some minor complaints in the past about certain aspects of its advertising. Still, it doesn’t appear to be a consistent issue and no other complaints have been made against any other part of RentPayment’s advertising.

Truth in Marketing

Discloses All Important Terms

No

Public Pricing Available

No

RentPayment Pricing, Rates & Fees

 

RentPayment uses simple interchange fees and a small fee attached to bank payments to make its services income. This includes 2.95% for credit cards, 0.95% for debit cards, and $4.99 for ACH payments. These are very transparent, simple fees that are easy to locate on WePay’s platform. Full disclosure of pricing isn’t too common amongst other payment processing companies.

 

Pricing at a Glance

Pricing Model

Swiped Rate

N/A

Keyed-in Rate

2.95% (Credit Card Rate); 0.95% (Debit Card Rate); $295 (eCheck/Debit ACH Fee)

Mobile Payment Rate

2.95% (Credit Card Rate); 0.95% (Debit Card Rate); $295 (eCheck/Debit ACH Fee)

Virtual Terminal Rate

Monthly Fee

$0

Payment Gateway Fee

$0

Batch Fee

N/A

Early Termination Fee

Undisclosed

PCI Compliance Fee

Undisclosed

Equipment Lease Terms

N/A

Address Verification Service (AVS)

Application Fee

Account Setup Fee

$0

Gateway Setup Fee

$0

Annual Fee

Monthly Minimum

$0

Statement Fee

RentPayment Contract & Terms

RentPayment offers a month-to-month agreement. It is unknown whether there is an early termination fee, and if so, how much it is. Other terms of the contract are not known. There are minimal complaints regarding RentPayment’s agreement from either tenants or landlords, therefore it’s safe to assume that most people are satisfied with the service.

Contract Length

Month-to-month

Early Termination Fee

Undisclosed

RentPayment Setup & Support

 

Setup Highlights

  • Documentation / Knowledge Base
  • In Person
  • Live Online (1-on-1)

Support Highlights

  • Domestic Phone Support (Business Hours)

RentPayment Complaints, Ratings & Reviews

RentPayment has relatively few complaints, considering the size of the service. However, complaints still do exist. On BBB, it’s rated 1 out of 5 stars, based on four reviews. Twenty-nine complaints were closed in the past three years, and 28 were closed in the past 12 months. The most common complaints revolve around poor customer service, the holding of funds, and account activation delays.

RentPayment generally has low reviews online from tenants and mixed reviews from landlords and property owners. While landlords and property owners typically favor  the service, the holding of funds and poor customer service has been an issue for some 

There are currently no lawsuits filed against RentPayment, class action, or otherwise.

Ratings

BBB

A+(23 complaints)

Google

N/A

Facebook

No Reviews yet

Yelp

1 Star / 45 Reviews

Reviews

Total Online Reviews

60+

Total Online Complaints

40+

Lawsuits

None

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