Online Rent Payments Help

Answer:
You can set up any number of business entities to easily manage and organize your business.

• Individual: Manage properties as an individual without a corporate structure. In this situation, enter the business name as the name you want your tenants to see.
• One Business: Manage all properties under one business. In this situation, enter the business name you want your tenants to see and the company's EIN number for tax reporting.
• Multiple Businesses: Manage different properties under different business entities. In this situation, setup as many additional business entities as you need. From the Landlord Dashboard, go to the left menu bar, select Businesses, and then select New Business. Then, from each property setup, you can select the business that it belongs to.

Put properties under the right business entity

• From the Landlord Dashboard, go to the left menu bar, select Properties, then select the business where the property currently is. Next, select the Property that you want to change. The first field in the property setup is "Business that owns property". You can then select the business entity for this property. Note: "Business that owns property" is only shown if there is more than one business established.

Answer:
You can setup any number of properties. Each property may contain a single unit (single-family house) or may contain multiple units (apartment). From the Landlord Dashboard, go to the left menu bar, select Properties, then select New Property.

• Single Unit: Enter a short property name that is unique and easily recognizable by you. The first 10 characters of the name are shown on your bank statement to make it easy to verify deposits for each unit. For example, a property on 100 Sunset Street may be called "Sunset Village". You will see "Sunset Village" on this system and your bank statement will show the first 10 characters, which is "Sunset Vil".
• Multiple Units: Change the Number of Units and additional lines are automatically added. For each unit, enter a short property name PLUS Unit that is unique and easily recognizable by you. For example, if there are 4 units at 100 Sunset Street, the names could be entered as "Sunset #1", "Sunset #2", "Sunset #3", and "Sunset #4". Since these names are 10 characters or less, the entire name will be shown on your bank statement when deposits are made into your account.

Answer:
You can set up any number of bank accounts.

• From the Landlord Dashboard, go to the left menu bar, select Bank Accounts, then select New Bank Account. After a new bank account is setup, you will receive two small debits and one credit in your bank account. You will then login to your ScheduleMyRent account and enter the two small debit amounts. This is a security measure to ensure your account accepts money transfers properly.

Answer:
ScheduleMyRent has a lease screen that is easy to use. From the Landlord Dashboard, click the Lease button for the unit you would like to setup. You can either add a new lease or modify an existing lease. Please watch this short video to see how.

Answer:
From the Landlord Dashboard, select the Due amount for the unit and month that you would like to waive the late fee for. You will see the rent amounts listed and a checkbox for "Waive Late Fee". If you check the box, all tenants on the lease will receive an automatic notification indicating that the late fee has been waived for the month.

If you uncheck the Waive Late Fee box, all tenants on the lease will receive an automatic notification indicating that the late fee has not been waived for the month.

The waive fee checkbox is not available if a late fee has already been assessed. If a late fee has already been assessed and you do not want to charge it, select the Due amount for the unit and month. Then, select the "Reduce Fee or Rent" button and enter a credit to reduce the Late Fee.

Answer: You choose
When a lease is initially setup, you select the "First day to automatically collect rent". If you want ScheduleMyRent to collect the initial rent amount at the start of the lease, choose this option. If the lease does not start at the beginning of the month, you will see an option of selecting a pro-rated amount for the first month. If you are collecting the first amount directly with the tenant, then pick a later date to start automatically collecting rent.

If none of the start date options are correct, pick the option that has the closest date to the date you want and finish the initial lease setup. After the initial lease has been setup, from the landlord dashboard, click on the month that you would like to change. You can add a credit or debit amount for the specific month to adjust the rent.

Answer:
There are multiple fee types, listed below, that can be charged to a tenant. You receive all of the money that is collected from the tenant.

Rent:
In the lease, you can set the rent amount and can also add additional items such as parking and laundry. You can select these additional items from the dropdown list or create your own custom fee names. The rent and additional items are collected together as one combined rent amount. Rent can be collected monthly, twice a month, or weekly.

Late Fee:
In the lease, you can set a Late Fee and a Late Fee Grace Period. The late fee will automatically be charged to the tenant after the grace period if the rent is not paid in full. You can also add daily late fees automatically.

Lets walk through a quick example
In the lease, the "Day of month that monthly amounts are due" is set to the 2nd of the month and the "Late Fee grace period" is set to 1 day. This means that rent is due on the 2nd of the month and taken out of the Tenant's account on the 2nd of the month if the tenant has provided authorization. If the tenant has not authorized the payment to be paid by the 3rd of the month (2nd of the month plus one day grace period), then the late fee will automatically be applied to the amount the tenant owes.

Return Fee:
In the lease, you can set a Return Fee. The return fee will automatically be charged to the tenant if a payment returns. A return can occur for different reasons, such as: the account does not have enough money to cover the payment, the account is closed, or the account is frozen. The return fee will automatically be applied to the amount the tenant owes. The tenant will automatically receive a notice that a payment returned and will be asked to re-schedule the original payment plus the return fee.

Answer:
Tenants can either be changed once per month, twice per month, or weekly. If once per month, the full rent amount is charged on the day of month set. If twice per month, the rent is evenly split between two payments and charged on the two days set. The day of the month that rent is removed from the tenant's account is set in each lease with "Day of month that monthly amounts are due"". If the day of the month occurs on a weekend or holiday, rent will be removed from the tenant's account on the next business day.

• Move-in date is different than normal monthly collection date: The first tenant payment may be on a different day of the month if you collect an initial pro-rated rent amount.
• Return payment: The tenant will automatically receive a return notice and additional fees that you setup will be added. The tenant will be asked to make a payment for the amount due.
• Tenant changes date: A tenant can change the amount or date of their next payment.

Answer:
ScheduleMyRent works with each tenant to make sure all rent and fees are paid. You can see all communications with each tenant by clicking the Communications button next to the unit on the dashboard.

• Before rent is due every month
  If a tenant is setup for automatic payments, ScheduleMyRent automatically sends a courtesy reminder that rent will automatically be removed. If a tenant is setup to authorize each payment, ScheduleMyRent automatically sends authorization requests to the tenant.
• When rent is late or when rent returns from the bank
  ScheduleMyRent automatically notifies tenants when rent is late and when rent returns from the bank. Late Fees and Return fees are automatically added to the amount that the tenant owes.
• When one-time items are changed
  If you add or decrease a one-time fee, such as a reimbursement for a utility payment, ScheduleMyRent automatically notifies tenants of the new amount.
• If you waive a Late Fee
  If you waive a Late Fee, each tenant is automatically notified.

Answer:
Yes. From the dashboard, select the Due amount for the month and unit that you want to change. You can adjust the total amount Due by adding or reducing the rent or fee. If you want to change all future payments, please change the lease instead.

Answer:
Yes. If you want to change all future payments, select the lease for the unit you would like to change and make changes. Please follow your state required notification period for updating a lease, which is typically 30 days. Tenants will receive a change notice and may need to login to ScheduleMyRent to adjust their payment authorization.

Answer: You Decide if it is allowed or not.
In each lease you can choose "Allow partial tenant payments" if you want to allow partial rent payments. Restricting partial payments only applies if there is a single tenant making payments on the lease.

Answer:
Add a new business for each LLC that you own. You can do this by selecting "Business", then "New Business" from the menu on the left side of the Landlord dashboard. You can add any number of properties under each business.

Answer - End Lease:
From the landlord dashboard, click on the Lease button for the unit you are changing. Then select the lease you want to end. Within the lease, select "Fixed Term Lease" and enter or change the "End Date" of the lease. If the end date is not on a month-end, you will have the option of selecting a pro-rated last payment amount.

Answer - Start Lease:
From the landlord dashboard, click on the Lease button for the unit. Then select "Add Lease". You can have multiple leases setup for a unit as long as the start and end dates do not overlap. Please make sure current leases have an end date in order to add an additional lease.

Answer:
Yes. You are required to have a lease between you and your tenant.

Answer:
You receive funds three business days after the Tenant is debited. For example, if the Tenant is debited on Monday, you receive the money in your bank account on Thursday. Money is typically received when the bank opens in the morning.

Answer:
ScheduleMyRent has simple and clear fees. The first five payments during a month are charged $2.00 each. All additional payments during that month are charged $1.00 each. Fees are automatically debited from your account at the beginning of the month for all payments that occurred during the previous month.

Lets walk through a quick example
If you have 10 units and nine of the units have a single person paying each month and one of the units has three roommates that each make separate payments, then there are a total of 12 payments.(9 + 3) The total fee is: 5 payments at $2.00 each and 7 payments at $1.00 each for a total of $17.00 for the month.

Return Fee:
There is a $1.00 fee if the Tenant's bank returns a payment. This is a great price since many banks change $10.00 or more for each return. A return can occur for different reasons, such as: the account does not have enough money to cover the payment, the account is closed, or the account is frozen.

Other Fees:
There are no other fees, such as a setup fee, a monthly fee, a minimum fee, or a yearly fee. There are also no long-term contracts or cancellation fees so you can stop at any time.

Answer:
A tenant's payment can return for several different reasons, but the most common reason is that the tenant does not have enough money in the bank to pay for the rent. This type of return is typically called an NSF (Non-Sufficient Funds).

ScheduleMyRent automatically notifies the tenant that their payment has returned and that they owe additional fees that are on the lease.

You can easily see the status from your dashboard. You can also click on the Communications button next to the unit to see all of the communications between ScheduleMyRent and the tenant.

Answer:Yes.
Each business can have a different bank account that money is sent to. Each property under that business that uses the default bank account will use the business bank account.

Within each Lease, you can also specify which bank account is used if you do not want to use the default bank account of the business.

Answer:Yes.
From the Landlord Dashboard, click on the "Received" column for the appropriate unit and month. You are able to add a manual payment by entering the Payment Date, Who Paid, Amount Paid, and a Comment. ScheduleMyRent automatically reduces the amount that the tenant owes by this amount and sends a receipt to the tenant.

Answer:
ScheduleMyRent makes it easy to confirm all payments on your bank account. When you setup each property, you entered a short name for the property or unit. The first 10 characters of this name should be shown on your bank statement so that you can confirm receipt of every payment.