Enforcing Full Rental Payments via The Tenant Portal
This option allows you to specify a payment policy for online transactions from your tenants. Previously a tenant could log in to their tenant portal and make any size payment into their account. As it turns out a lot of property managers desire more control over this feature. For example, if a tenant is undergoing an eviction, you don't want to accept anything less than the full month's rent otherwise you might be in jeopardy of extending their usage of your property. Other landlords just don't want to deal with partial payments. With these scenarios in mind, we've added the following EasyPay options.
You'll find these new options by editing the tenant's EasyPay settings (right-click on tenant, choose EasyPay).
- Allow Any Payments - This will work the same as always and is the default (unless you change it). Renters can make any size payment they want.
- Require Rent - This will allow a SinglePay payment equal to or greater than their rental amount unless they have a balance for a period less than their rental amount. For MultiPay, this will enforce the system to only allow a payment equal to or greater than their rent amount.
- Require Balance - This option will only accept an online payment from the tenant if they pay their full current balance. For SinglePay it requires the tenant to pay their total account balance, this could include rent, late fees, and any other monthly charges associated with the tenant. For MultiPay, this setting has the same effect as "Require Rent" above.
Important Note: Tenants will still be able to schedule partial payments until their payment due date, even if you have your settings configured to generate the tenant's invoice early. For example, if you have it set up to 'Require Balance' and it's the 25th of the month and the tenant's account is showing a balance of ($1500.00), they will still be able to schedule a partial payment up until the 1st of the next month, because the payment is not due until then. On the 1st, when the payment technically becomes due, the system will then require them to pay the full balance and they will no longer be able to schedule a partial payment.
You can also set a default option at Settings, Setup EasyPay which will then apply anytime a tenant first schedules their payment. Any setting done to a specific tenant will override the default so that you can adjust your policy on a tenant-by-tenant basis.
The only pre-requisite to use this feature is having an active EasyPay Merchant account.