Landlord FAQs

Do I need to bank with a specific bank?
No. PayRent can deposit your rent payments to any bank with branches in the United States, usually within 3 days from when rent payments are made.
Wed, 1 Jan, 2020 at 11:52 PM
Is there a maximum transaction limit?
Yes. Our maximum per transaction is $50,000 USD. However, there is no limit to the number of transactions per month or per property. Splitting rent payments...
Wed, 1 Jan, 2020 at 11:53 PM
Can I create more than one PayRent account?
Yes. You can create as many PayRent accounts as you need. Many Landlords create separate accounts for each property or group of properties. You will need a ...
Wed, 1 Jan, 2020 at 11:53 PM
How do my renters enroll in the service?
To invite a renter, you'll visit the 'Invites' tab on your dashboard. Click "Invite a Tenant" and fill out the form. You'll need ...
Tue, 16 Jun, 2020 at 1:14 PM
What are the options for paying ACH transaction fees?
As a landlord, you have the option to absorb the ACH transaction fees, pass them through to your renter, or split a percentage of the fees between both part...
Wed, 1 Jan, 2020 at 11:55 PM
Who pays for credit card transaction fees?
Making rent payments using a credit card is considered to be a convenience for a renter and is significantly more expensive than ACH. Renters pay all credit...
Wed, 1 Jan, 2020 at 11:55 PM
Can I prevent renters from making payments?
Yes. each property has an option to prevent payments which can be manually toggled on or off at your convenience.
Wed, 1 Jan, 2020 at 11:56 PM
Will I receive a 1099K?
Internal Revenue Service rules require that we distribute an IRS 1099-K only if you exceed 200 transactions AND process more than $20,000 in rent payments a...
Wed, 1 Jan, 2020 at 11:56 PM
My Payment has not been Deposited. Where is my Money?
Confirm your PayRent account is set up for ‘daily’ settlements in your WePay account. Follow these instructions: 1. Log into WePay account HERE 2. Cli...
Mon, 11 May, 2020 at 10:15 PM
How do I know what Payments are in each Bank Transfer?
How to Download a Payout Report 1. Log into WePay 2. Choose Reporting on the left 3. Select the Settlements tab  4. Enter a Date Range, then click Ap...
Mon, 11 May, 2020 at 11:06 AM