Property Bank Accounts

Set your property default operating account to receive online payments

Samuel avatar
Written by Samuel
Updated over a week ago

Overview

Whether you have one bank account or many, you can easily tell DoorLoop where your online payment money should go.

After applying for a merchant account, you can use this bank account to collect rent for all of your properties. If you have more than one merchant account, you will specify which properties should use each bank account.

The Steps

Using one bank account to receive payments for all of your properties

  1. To edit your default bank accounts, click Settings on the main menu and then click on the Default Accounts button in the Company section.

  2. In the Bank section, select your merchant account for the Operating Bank Account. What you choose here must be a merchant account if you want to receive online payments.

  3. As long as your property Bank Account settings are configured to Use company default bank accounts, those properties will use this bank account to receive online payments.

  4. Click Save when you are finished.


Different bank accounts for your properties

  1. On the main menu, click Rentals and then click Properties.

  2. Find the property you want to set a bank account for, and click on it.

  3. Click on the Settings tab and then the Bank Accounts button.

  4. Select the option to Specify a bank account for this property.

  5. Choose a new Operating Account. This is where you will receive online payments.

    What you choose here must be a merchant account if you want to receive online payments.

    Choose an Escrow Account if it's also different from the default trust bank account.

  6. Click Save when you are finished.


Special Considerations

  • If a tenant sets up autopay and you later change the operating account for their property, you will need to have that tenant delete and re-setup autopay to connect it to the new bank account. For tenants making one-time payments, no change or notification is necessary.

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