Best software to automated ACH payments from Tenants

Best software to automated ACH payments from Tenants

Member since 2022 · 3 posts · 1 vote

Hello Community,

I have a tenant who wishes to set up automatic reoccurring ACH payments on the rent for their unit. From their bank account into our bank account. Their bank does not offer this service in reoccurring manner. Their bank will mail a check monthly but the preference is to be fully automated and timely (not waiting for the mail and to make the deposit). This would be a great feature for all of our tenants. 

Is anyone able to recommend services that they have used that are trustworthy and remit the money in a timely manner. And do not charge or have minimal charges to provide this feature? I suppose we would and should pay as appropriate. I'm not sure what is appropriate for this service.

I understand there is also property management software that combines ACH payment capabilities with feature with basic book keeping features, perhaps work orders/repair requests, document(lease) archives, leasing/listing features? 

It is time for us to modernize our practices.

We are a fairly basic operator/developer with a few 3-4 unit buildings. Too complicated and feature rich can be a drawback as well.

I was hoping to gather recommendations from the community both for a service that allows automated ACH billing without the additional property management software suite and also services that include these additional features that you might recommend we consider. Please try to suggest products/services that you have used and like. 

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  • Member since 2022 · 18 posts · 10 votes
    1y

    I've been using TurboTenant integrated with REIHub. TurboTenant does digital signatures for leases and other documents, condition report templates, automated and one-time ACH transfers, chats with tenants (so there is a record... just in case), and lots of other great stuff. REIHub pulls in data from TurboTenant for the portfolio, attaches transactions to properties, generates reports, and synchronizes transactions directly from financial accounts, and then some. The whole thing works flawlessly. You can use it for free, but if you buy a subscription, there is no ACH processing fee. It's a charge per property in the system, paid monthly, which really isn't bad. 

  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    1y

    @Charlie Chelnik

    Doorloop, Hemlane, Innago, RentRedi, Stessa, Avail, Apartments.com, TenantCloud, TurboTenant, Buildium

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