FAQ > Online Rent Payments

How much does Online Rent Payment really cost? Are there any hidden fees?

SimplifyEm offers a transparent and affordable online rent payment solution with no hidden fees. Here’s a breakdown of the costs involved:

Setup Fees and Merchant Accounts:

There are no upfront setup fees or requirements for a merchant account to start using online rent payments. You can simply connect your bank account and verify it, and your tenants can begin making online payments once they’ve set up their accounts using your invitation.

Transaction Fees:

The only fee associated with online rent payments is a transaction fee. You have the flexibility to choose who covers this fee:

• Tenant Pays: If your tenants cover the transaction fee, it will always be $3 per transaction.
• You Pay: If you choose to cover the transaction fees for your tenants, the fee structure is tiered:
  • For the first 10 transactions of the month, the fee is $3 per transaction.
  • For transactions 11 and beyond in the same month, the fee reduces to $1 per transaction.

   
  

Additional Fees:

There are no additional fees unless a rent transaction is returned due to insufficient funds or errors in the bank data. In the event of insufficient funds, a service fee of $25 per incident may be applied, which you can reimburse from your tenant as per your bounce check policy.

In summary, SimplifyEm’s online rent payment solution provides a cost-effective and convenient way to collect rent from your tenants. With no setup fees, transparent transaction fees, and minimal additional charges, you can streamline your rent collection process while saving money.