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Set Up Your Manager ACH Fees

Set up Manager ACH Fees to cover additional expenses when processing payments.

Samuel avatar
Written by Samuel
Updated over 3 weeks ago

Overview

Manager ACH Fees are charges that some property managers apply to tenant payments to cover extra expenses that are incurred.

A property manager may charge Manager ACH Fees for certain payment methods to cover their costs or while providing a useful service or amenity. For example, if a tenant pays rent with ACH bank transfers, the landlord may incur a processing fee from the payment provider. To offset this expense, the landlord may charge a convenience fee to the tenant.

What are the benefits of Manager ACH Fees?

  • Generate additional income

  • Incentivize tenants to make timely payments

  • Offset extra expenses such as your DoorLoop subscription fees

Note: Manager ACH Fees are only available for Premium Plan subscriptions. If you would like to use this feature, please consider upgrading to the Premium Plan.

The Steps

Set Up Your Company Manager ACH Fees

  1. To set up your Manager ACH Fees at the company level, click Settings on the main menu and then click Fees Settings.

  2. On the Fees Settings window, click Manager ACH Fees on the left menu to take you to the Manager ACH Fees section.

  3. On the Manager ACH Fees settings section, you can enter an Amount you will collect as a Manager ACH Fees. This must be a dollar amount and can not be a percentage. The Amount entered will be added to every ACH payment your tenant makes. Take note that the convenience fee cannot exceed $10.

  4. Click Save to finish.

Tip: Manager ACH Fees are processed with the Manager ACH Fees income account on your Chart of Accounts. Skip to this section to set up your Convenience Fees income account if necessary.

Set Up Your Property-Specific Manager ACH Fees

  1. To set up your property-specific Manager ACH Fees, click Rentals on the main menu and then click Properties.

  2. Find the property for which you want to add custom Manager ACH Fees and click on it.

  3. Click the Settings tab. Then click the Fees Settings button.

  4. On the Online Payment Fees Settings window, click Manager ACH Fees on the left menu to get to the Manager ACH Fees section.

  5. On the Manager ACH Fees section, select "Specify Manager ACH Fees for this property."

  6. Here, you can enter an Amount you will collect as a Manager ACH Fees. This must be a dollar amount and can not be a percentage. The Amount entered will be added to every ACH payment your tenant makes. Take note that the convenience fee cannot exceed $10.

  7. Click Save to finish.

Set Up Your Lease-Specific Manager ACH Fees

Manager ACH Fees can also be set up at the lease level. There are several ways to reach a lease, but we'll highlight one method here. This one extends the previous instructions.

  1. To set up your lease-specific Manager ACH Fees, click Rentals on the main menu and then click Properties.

  2. Find the Property you want to add custom Manager ACH Fees on a lease for and click on it.

  3. Click the Leases tab.

  4. Find the Lease you want to add custom Manager ACH Fees for and click on it.

  5. Click the Settings tab. Then click the Fees Settings button.

  6. On the Fees Settings window, click MAanager ACH Fees on the left menu to get to the Manager ACH Fees section.

  7. On the Manager ACH Fees section, select "Specify a manager ACH fee structure for this lease."

  8. Here, you can enter an Amount that you will be collecting as a Convenience Fee. This must be a dollar amount and can not be a percentage. The Amount entered will be added to every ACH payment made by your tenant. Take note that the convenience fee cannot exceed $10.

  9. Click Save to finish.

Change the Default Convenience Fees Income Account

  1. To change the default convenience fees income account, click Settings on the main menu and then click Default Accounts under the Company section.

  2. Go to the Income section, and you'll be able to change the default Manager ACH Fee Income account.

  3. Click Save to finish.

Things to Consider

  • Property managers should check their local laws before imposing manager ACH fees.

  • Manager ACH Fees will not apply to any existing payments that are set up as auto-pays. This means that any existing auto-pays that tenants have set up will only charge the normal platform fees and will not include the Manager ACH Fees. Only new auto-pays that are set up will have Manager ACH Fees included in them.

  • Manager ACH Fees will be capped at $10. You will not be able to charge more than that.

  • Manager ACH Fees will be reflected in the Chart of Accounts or the Transactions Details report by filtering by Account > Manager ACH Fees.

  • Manager ACH Fees will appear in Owner Statements, Profit and Loss reports, Cashflow Statements, and the Balance Sheet. If you prefer for the manager ACH fees not to show up on the owners statement, add them to your management fees payout categories. For more information how to do this, read: Set Up Your Management Payout Categories.

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