Faster Payments. Less Chasing.
We make sure you get paid first and your renter feels great about it.
If a payment fails, we don’t pass the cost to you.
Positive and appreciative, collection schedule adjusted to meet both sides’ needs.
Most renters will build credit; late payers will have additional incentive.
Timeline represents banking days.
At any time, any renter reply can be handled and understood. “Wait”, “Pay on Tuesday,” “My plumbing is broken,” etc.
3 days before rent is due
RentHelper sends a text message notifying tenants that their rent will be withdrawn in 3 days.
Rent is due
We alert tenants that their rent is due and ask them to keep funds in their account until the next morning. Tenants have until 2p.m. to text WAIT and reschedule.
At 2 p.m., we initiate transfer from tenant’s bank.
1 day after
Rent is transferred to our bank.
3 days after
Our bank verifies payment.
We initiate transfer to owner’s bank.
4 days after
Rent appears in owner’s bank account.
We email you a report whenever there’s activity, making it easy to see who is up to date with their rent.
With RentHelper, renters can save time and expense, remain in control of their accounts, and build credit. Renters no longer need to purchase money orders or visit the office. Renters can stop or reschedule a payment at any time, with owners kept in the loop on all delays. Best of all, payments are reported to TransUnion, which for most renters, will help them build credit.
Unlike credit cards, which cost $30 to get $1,000,
Unlike bounced checks, which cost $30 to get nothing,
Unlike free or 25 cent rent collection services,
which can’t be stopped during eviction,
which cost untold sums by replacing real interaction with non-interactive robo-routines:
RentHelper never bounces,
RentHelper handles all delays with white-glove courtesy and persistent follow-up,
RentHelper increases renter communication and satisfaction,
RentHelper costs just $6 for every $1,000 of rent we collect.
No monthly fees.
No extra cost for partial payments.
No charge for one-on-one concierge communications.
We are renter relations done right.
Your currently spend $41 per month to process rent.
Cost of RentHelper: $36 per month.
RentHelper will save you $9 per month.
Number of Units
Time you or your staff spends chasing, receiving, and depositing rent
Value of your time (or your staff’s)
Percentage of checks that bounce
Average credit card processing fee
How does RentHelper collect the fee?
We do not deduct it from your rent. Each tenant payment appears in your account in exactly the amount they paid. The aggregate service charge is calculated and auto-debited on the last business day of the month. You will receive an invoice for your records.
My tenant doesn’t have a bank account.
Unbanked tenants can still use RentHelper with debitable cash cards that they can load at various locations. Enrollment takes longer than just the one form. Contact us for details.
I’m evicting my tenant and want to refuse partial payments in order not to establish a new tenancy.
No problem, we can refuse payments. Alternatively, we can send text messages with legally required wording (e.g., “for use and occupancy only”). Fun fact: In its first year, RentHelper avoided two evictions by moving tenants from monthly payments to pay schedules tied to their income for use and occupancy only. Mediated agreements were fulfilled and no eviction was necessary. Similar success with your tenants is not guaranteed.
What if sometimes the tenant still pays with money order or cash?
Not a problem, just let us know. If you collect the rent, your RentHelper fee for that unit that month is zero (of course), and we will include that payment in their credit history for free.
How does credit reporting work?
If your tenant pays all rent owed within 30 days, it counts as “paid or paying as agreed.” If it’s later than that, we will report it as late. If a tenant has a dispute, they will first contact us. We may contact you for additional information.
How does RentHelper compare to property management software like Buildium or Appfolio?
Management software is jack-of-all trades, with payment systems that require renters to use a computer and to maintain enough cash reserves for auto-debit to work every month on the first. RentHelper was custom designed for text message control and flexibility. We’re particularly good with subsidized and down-market rentals, where renter relationships can be low-tech and high-touch. We can be a bridge between paper checks and management software you might choose to adopt in the future. We can also be an add-on service, since RentHelper’s daily reports can be imported into your management software. Contact us for details.