Overview
A recurring payment is a payment schedule that automatically adds payments to a lease on the dates and frequency you choose. This way you don’t have to manually record repetitive payments for the same amounts.
Note: If your tenants set up automatic payments to pay rent online through the tenant portal, these will show as recurring payments in your portal as well.
The Steps
These steps below are used to create automatic recurring payments on your end with a payment method of anything other than ePay. Creating this would imply that you receive a specific payment type on a regular basis from the tenant, such as a check, wire transfer, or some type of other electronic payment like Zelle. Again, this is not for ePays made through the tenant portal.
To create a recurring payment, click on Leasing on the main menu and then click Active Leases.
Find the lease you want to add a recurring payment for, and click on it. You can either sort the list by the various columns and filters or use the Search leases search bar.
Click on the Rent tab and then the Recurring Payment button.
Enter the following information:
Start date: set the date you want the recurring payment to begin.
End date: by default, the checkbox for Repeat until the end of the lease is checked, but you can deselect this and enter a date you want the recurring payment to end.
Frequency: set how often you want the payment to occur on the lease. For example, a monthly recurring payment will post every month on the same day of the month as the start date.
Received from: choose the tenant making the payment.
Deposit account: pick the bank account you want this payment to pay into. You can choose between either of the default bank accounts you assigned for the property of this lease.
Payment amount: enter the amount for the recurring payment.
Payment method: pick among several options for informational purposes.
Choosing Check allows you to record an optional Check Number.
Do not choose ePay.
Add memo: add an optional note for your reference when reviewing the charge later.
Add any relevant files (optional) and click Save.
You’re finished! This new recurring payment will begin adding payments to the Transactions tab of the lease when it is scheduled to start. You can add as many recurring payments as you need. You can also edit recurring payments you create if necessary.
IMPORTANT: You can't edit automatic payments created by your tenants, only delete them, which will cancel their automatic payment.