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Receive Online Payments from Tenants
Receive Online Payments from Tenants

Have your tenants pay online to automate rent collection.

Samuel avatar
Written by Samuel
Updated over a week ago

Overview

To simplify and automate your property management work, your tenants can easily pay their rent online through DoorLoop. First, you will need to complete several necessary setup steps to receive online payments. Then watch the rent roll in as your tenants pay online and DoorLoop automatically records the lease payments and your bank deposits!

The Steps

Step 1 - Setup Your Merchant Account

The first step to receiving online payments from your tenants is to complete a merchant account application for each bank account you want to receive online payments.

Use these instructions to add more bank accounts if necessary.

Step 2 - Setup Your Default Bank Accounts

Make sure your properties have their default bank accounts set correctly. What you select for your property default operating bank account needs to be the bank account you want to receive online payments for that property.

If the bank account you set as the default operating bank account for a property has not successfully completed the merchant account application process, tenants in this property will not be able to make online payments.

Step 3 - Turn On the Tenant Portal

Note that these settings are also where you can allow or disallow partial payments.

Step 4 - Invite Your Tenants

If you didn't invite your tenants to their portals when you created their leases, invite them now, or they won't be able to login to their portal to make online payments.

Step 5 - Rent & Payment Notifications

If you want, you can set rent reminder emails to notify your tenants when they are charged rent. These reminder emails have links to the tenant portal for your tenants to use to login and pay their rent. They can also just go to DoorLoop.com and login with their email address and password.

You can also use these settings to remind tenants of upcoming rent, set payment notifications, and set reverse payment notifications.

Step 6 - ePay Funding Cycle

As soon as one of your tenants pays online, DoorLoop records the payment on their lease. This payment reflects as undeposited funds until the money is deposited into your bank account. When this happens, DoorLoop automatically creates this bank deposit for you.

The time between the online payment and bank deposit depends on the ePay funding cycle and whether your tenant made their payment via credit card or ACH. It generally takes 4-5 business days for payments to arrive in your account.

Step 7 - Reports

Your Profit and Loss report will automatically reflect the revenue your tenants pay, and you can review the bank deposits DoorLoop automatically created at any time.

If you want to review the online payments that your tenants made but have not yet deposited to your bank account, use the ePay Deposits Report and review the payments shown in the Undeposited section of the report.

To find this report, go to Reports and find it in the Accounting section.


Next Steps

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