What are fair-use overage fees?
Rentec Direct has a very simple pricing model with most services bundled into the monthly subscription cost. Some of those services, such as ACH processing and electronic signatures, are billed to Rentec Direct from our vendors on a per-unit basis. As such, we've designed our pricing with fair usage in mind to keep our subscription rates as low as possible. If the fair usage limits are exceeded, then the excess will show on your invoice as an "overage" charge. Here's a couple examples:
ACH has an overage charge of $0.50 per transaction if your transaction volume exceeds 100% of your properties.
In real-life property management scenarios if would be very rare to trigger this overage. Rentec Direct provides a generous allotment of free ACH transactions which accommodates up to 100% of your tenants paying monthly rent online via ACH.
Here's some scenarios where you could trigger this overage:
- If you have 100% of your tenants paying via ACH, and some of your tenants make more than one payment per month. Those payments that exceed 100% of your property count would be billed at $0.50/each. All the other transactions are still free.
- If you have automated payments scheduled for the bulk of your tenants set to run more than once per month. For example, if you have 100 properties, and 100 tenants are paying rent twice a month you would have 200 ACH transactions. The first 100 would be included in your subscription, the second 100 would be billed at $0.50/each.
Electronic signatures have an overage charge of $2.50 per document if your transaction volume exceeds 15% of your property count.
Electronic signatures are typically used when having a tenant sign a lease, or an owner sign a property management agreement. We provide a generous amount of free electronic signatures that should accommodate the volume of most property managers. Here's a couple scenarios that could trigger an overage:
- If you renew leases, or have an average lease signing cycle of less than 6 months.
- If you do all of your electronic signatures at a specific time of the year. For example, if you renew all leases in June and do them all electronically in June, you might trigger this overage. To avoid this, you can handle lease renewals on the anniversary of the tenant move-in date so they are spread through the year.
These charges are covered in the terms of service agreed to when signing up for Rentec Direct service.
Text from TOS as of February 13, 2020.
3.4. Many features are included at no additional cost with Rentec Pro and Rentec PM subscriptions. These services are included assuming that your account uses an average number of these services compared to typical industry usage. In the event your account exceeds the industry average, plus a generous margin, Rentec Direct will invoice for the services that exceed that average in the previous billing cycle at the following rates. Electronic signatures: $2.50/ea if signature count exceeds 15% of property count. Text messages: $10 per 500 messages if text message count exceeds 1,000% of property count. ACH payments: $0.50/ea if ACH count exceeds 100% of property count.