A returned payment fee is an amount you charge a renter when a bank payment (ACH) is returned. You set the amount on the unit. PayRent posts that fee to the renter’s balance automatically when the return happens.
Your service plan must include additional assessments (auto-bill additional charges and credits).
If that feature is not on your plan, the returned payment fee switch is locked. A prompt offers Auto-bill additional charges and credits. Upgrade the plan, or contact PayRent support, to turn it on.
The fee applies to ACH returns only. A card dispute does not add this fee.
Set it on the unit that should charge the fee. Portfolio defaults apply when you add a new unit. An existing unit keeps its own amount until you edit that unit.
Sign in to PayRent as a landlord.
Go to Properties.
Open the unit’s menu and select Edit Unit.
Under Additional Assessments, find returned payment fee.
Enter the dollar amount.
Turn the switch on.
Select SAVE.
The amount is required while the switch is on, and it must be greater than zero.
Go to Properties.
Open Property Group Settings (gear icon) for the portfolio.
Under Additional Assessments, enter the returned payment fee amount and turn the switch on.
Save.
New units can start from this default. Change an existing unit from Edit Unit if that unit should use a different amount, or no fee.
When an ACH payment on that unit is returned:
PayRent adds the fee you set to the renter’s balance.
The charge appears on your transactions and on the renter’s transactions as Returned payment fee.
The memo names the returned payment.
The fee is posted once for that payment. A second notice for the same return does not add the fee again.
The fee is not posted when any of these are true:
The switch is off, or the amount is not greater than zero.
Your plan does not include additional assessments.
The return is a card dispute, not an ACH return.
Turn it off
Open Edit Unit for that unit.
Turn the returned payment fee switch off.
Select SAVE.
Returns that happen after you save do not add the fee. A fee already posted stays on the renter’s balance.
