Electronic Rent Collection for Cash Paying Tenants
Rentec Direct's cash payment network, powered by PayNearMe, is the leading cash payment network for property management. With over 32,000 locations, tenants can easily find a nearby payment station to make their payments.
This article reviews:
- PayNearMe Overview
- How Tenants Access Their Barcode
- Frequently Asked Questions
- Contact Your US-based Support Team
How it Works
- Enroll in PayNearMe
- Enable the PayNearMe Cash Option for tenants
- Once enabled, each tenant's payment options will include Cash Pay and have a unique token or barcode linked to their account/ledger
- Tenants will present their payment with their barcode to a clerk at the participating store of their choice
- Payment will automatically post to the ledger of the tenant, the property they are placed in, and the income account indicated in the property
- Funds will automatically deposit into the income account indicated in the property
How Tenants Access Their Barcode
There are two ways tenants can access their barcode:
- Tenants can log into the tenant portal of Rentec Direct on a mobile device and have the option to:
- Select cash payment as an option
- Look up the closest pay location
- Present their payment barcode (Each tenant has a unique barcode)
- The barcode can be displayed on a mobile device or printed as a payslip
- When the tenant goes to a pay location:
- They give their payment to the cashier
- The cashier scans the barcode
- The payment is reflected in Rentec Direct in minutes
- Tenant Managers can text or print the barcode as a payslip for tenants
Tip: Print and laminate barcodes so they can be preserved and reused
Frequently Asked Questions
Q) How much will it cost landlords/property managers?
- One-time - non-refundable $200 setup fee. PayNearMe is required to complete an extensive background check on applicants (landlords) to legally transfer cash in the United States.
- Monthly - The difference between the minimum required transactions and the actual transactions. PayNearMe requires you to receive an average of 10 monthly cash payments totaling $49.90. The fee difference will be billed to your account if you still need to reach that minimum. For instance, if you receive 9 cash payments, a $4.99 charge will appear on your monthly statement.
Q) How much will it cost tenants?
- Tenants pay a $4.99 fee at the payment location when making a payment. For example, if they want to pay $500 in rent, the payment location will charge them $504.99, and $500 will be sent to your bank account.
Q) What are the rental payment transaction limits?
A) The following transaction limits apply:
- Per Tenant
- $2,000 per payment
- $2,900 per rolling 24 hours
- $10,000 per 30 days
- Per Store
- $2,900 (Walmart, ACE)
- $2,000 (CVS, Casey's, Walgreens)
- $1,500 (7-Eleven)
Example: If your tenant's rent exceeds $2,000, they must split the payment into two separate transactions. If the rent is over $2,900, they must complete those transactions 24 hours apart.
Q) How soon will I see the funds?
You'll see the funds in your bank account in 3-5 business days, and they will automatically be reflected in the tenant, property, and bank ledgers within minutes in your Rentec Direct account.
Q) How do I reconcile PayNearMe cash payments?
Use the Cash Settlement Online Payment report when reconciling the bank account
Q) How can I change the bank cash payments deposit into?
To change the bank account where PayNearMe funds are deposited, fill out and return the form located here: PayNearMe Deposit Account Change
Note: There is a $75 charge for each bank change request.
Q) How can I close my PayNearMe account?
You can close your PayNearMe account at any time by emailing success@rentecdirect.com. Please send the request from the administrator's email to your account and include your contact information, including a daytime phone number, so we can verify its validity.
The email will be deemed delivered once you have received confirmation from Rentec Direct that it was received. Alternatively, you can close your account by sending a letter via first-class mail to Rentec Direct, 231 SW I St, Grants Pass, OR 97526-2814
Q) Can I have more than one bank account for deposits from PayNearMe?
Payments made through PayNearMe can only be deposited into the one bank account on record with PayNearMe.
Q) Will the payment policy apply to cash payments?
The Cash Payment feature from Rentec Direct will also ensure that your Online Payment policy is respected.
- Require the Balance in Full or
- Require Rent
If a tenant attempts to pay less than the required amount, the payment will be rejected, and the payment location cashier will issue an automated message to the tenant.
Learn more about Enforcing Full Rental Payments via The Tenant Portal
Note: Transaction limits may vary by Cash Payment location. If a tenant owes more than the transaction limit (typically between $1500 and $2000), be sure to set your payment policy for that tenant to Allow Any. Then inform your tenant that they will need to split their payment into multiple transactions.
Q) How can I identify deposits from PayNearMe in my bank account
When a deposit has been made into your bank, the transaction will indicate "PNM* followed by your company name.
FAQs
Q) Why do some tenant payslips reflect $4.99 processing fee and some $3.99
⭐Due to changes with PayNearMe -
- Tenants added to your software after 10/17/2025 will automatically have a $4.99 processing fee
- Between Aug. 18 - Oct. 17, 2025, all existing tenants using PayNearMe will be automatically updated from $3.99 to a new $4.99 processing fee.
- Tenants paying through the Tenant Portal or Resident Connect app will see the updated fee reflected automatically - no action is required
- Tenants who use pay slips will need to download a new slip or request one from their landlord or property manager to reflect the new actual charge of $4.99
- Existing printed payslips will continue to work until Aug. 18, 2026, but we recommend distributing new slips as soon as possible to avoid any confusion or disruption.
Contact Your US-Based Success Team
Have questions? Connect with your US-based Award-Winning Success Team weekdays from 6 am to 5 pm (PST). Just click on the Live Expert Help link to chat or email live support, email success@rentecdirect.com, or call 800-881-5139 ext 2. rentecdirect