Information for Property Managers and Landlords:
eRentPayment does offer credit/debit card processing for property managers and landlords as an optional feature that a property manager or landlord can sign up for if they are already registered with eRentPayment to receive ACH payments. The costs for credit/debit card processing are:
Set-up Fee: $30
Monthly Fee for your merchant account: $3 (flat fee)
Transaction Fees: 1.5% of payment for Debit cards, 2.95% for Credit cards. There is a $10 minimum/month for transaction fees. This does not include the $3 monthly fee so if there are no transactions processed in a month the fees would be $13 for the monthly plus minimum. The transaction fees are billed to the property manager.
Card Types: Visa & MasterCard only
Deposit Account: Only 1 bank account can be used for each merchant account. Multiple merchant accounts would be necessary if multiple deposit accounts are needed.
Convenience Fees: The manager can elect to pass a convenience fee or surcharge to the renter to cover, or offset, the processing fees. Please see this site to ensure your state does not prohibit surcharges or convenience fees:
Please note that you can only pass up to 2.95% as a surcharge per card rules so the surcharge may not cover all of your processing fees.
Recurring Payment: Currently recurring payments are not offered for credit cards.
**NOTE** Convenience fees cannot be set for individual properties. Managers can only set one convenience fee amount that applies to all properties and all payments. We are more than happy to discuss the convenience fees setting so please contact us if you have any questions on how the process works. This fee will only apply to credit card payments.
Important Note: There may be additional fees charged by TSYS, such as for international credit cards, however those should be reviewed with you by TSYS before you complete the merchant application.
Next Step: To apply for credit/debit card processing please complete the eRentPayment Merchant Questionnaire (Word version or click here for PDF version) and send it to firstname.lastname@example.org. Thank you!
Information for Renters:
For a renter to submit a payment using a credit/debit card their property manager or landlord must be registered to accept credit/debit cards through the service.
Some prepaid debit cards can be used with eRentPayment as an eCheck transaction instead of a debit card payment if the card allows ACH debits against the card. The card holder should contact the card issuer to first confirm if they allow ACH debits and if so what routing number and account number should be used with that particular card. We recommend the NetSpend card as we know it works with our system. Please use this link to ensure the card is eligible for offers specific to eRentPayment customers: www.netspend.com/erent