Renter Insight Rent Payment Settings

Payment Settings



Edit Payment Settings

Learn how to edit your Payment Settings
  1. Select Settings on the left sidebar
  2. Note: The default is to edit the Company Default Settings, you can select Property Level Settings if
    you would like to edit settings for individual properties
  3. Click Payments

  1. Prorate Settings

    1.  All Charges and Rent can be prorated at move-in and move-out  
      1. Note: while creating one time charges, you will be able to elect to prorate or not
    2. There are two types of proration:
      1. 30 Days: Determines a daily rate by dividing the amount due by 30 and multiplying it by the daily rate.  Example: $1000 Rent and resident moves in on July 30th and owes 2 days rent.  $1000/30=$33.33 daily rate.  $33.33 X 2 = $66.66.
      2. Actual Month: Determines a daily rate by dividing the amount owed by the actual days in month.   Example: $1000 Rent and resident moves in on July 30th and owes 2 days rent.  $1000/31=$32.23 daily rate.  $32.23 X 2 = $64.46. 

Ensure your prorate settings match the language in your Lease Agreements

  1. Payment Fees

    1. Note:  Most companies will pay for ACH Fees at a minimum.  If you are having difficulties with accounts receivable, paying the processing fees greatly increases on-time payments

  1. Determine if the Landlord or Resident will Pay for Payment Processing Fees