RentRedi Updates Processor To Stripe: New TOS

Overland Park, Kansas
General Landlording & Rental Properties
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RentRedi Updates Processor To Stripe: New TOS

Justin Rollheiser
Real Estate Agent · Overland Park, KS · Member since 2012 · 17 posts · 1 vote

I've been using RentRedi for a couple years and it's been great.  However, I just received a text alert that I must agree to their new Terms of Service by 10/7/24 to continue processing payments.  Seems like short notice.  Has anyone else looked into this and/or used Stripe?

Message from RentRedi:

"ACTION REQUIRED:

You must agree to the new terms and conditions to continue processing rent by October 7th.

I have read and accept the 

Stripe Connected Account Agreement

Confirm

RentRedi is updating our payment processor to Stripe. There are no additional fees to your subscription. No other action is required at this time.

Please note this will not be an immediate change. Within the next 30 days, RentRedi will be migrating all payment accounts from Propay to Stripe. We will reach out once we migrate your accounts."

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  • Arvand SabetianBusiness Member
    Member since 2024 · 62 posts · 21 votes
    1y

    Stripe is reputable. Unfortunately, there's been reports of user accounts being closed without any reason. But I believe that if you're not violating any terms, not in a restricted industry or involved with anything deemed risky by Stripe then you're probably safe.

    It appears their move to Stripe is for accelerated payment processing, which is interesting since they acquired eRentPayment and Payment Report.

    On surface level it might be they're adding Stripe as an option on top of their existing infrastructure.

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