I'm trying to see if anyone has received funds into their account (processed, not pending) SINCE the problem dates? 10/12 was supposedly the last date of the problem transactions. So has anyone had a tenant pay on 10/13 or later and actually had the funds hit their account?
We were fortunate to only have two payments that got held up in the "problem". Unfortunately, by the time we caught the problem we've got a whole list of tenants who made their Nov payments on 10/30, 10/31, 11/1. Now we are extremely nervous that these will change from "pending" to actual "processed" transactions with deposits into our account, as promised by erentpayment.....
We have used erentpayment.com for several years, with great ease, success & wonderful customer service. I want so badly to give them the benefit of the doubt.
I have - only ONE tenant that was affected, they had tow payments they entered on the 12th, rent and the automatic late payment. The rent was transferred out of their account immediately, the late payment (significantly smaller) was not. BOTH showed as pending for weeks, then the late payment was deposited into our account last week. The larger rent is not... Im attempting to have the tenant claw that back with the R10 process. Been working with the local bank and also offered the tenant $250 as an "assistance incentive" (that's large enough that they are vested and don't view us as greedy, rather a partner - and taking it on the chin for $250 is far cheaper than loosing an entire month to this crap)!
I still have not received my oct rent. Any suggestions?
@Russ Aragon - we had an issue with one house and had the tenant go to their bank and reverse the payment via their bank. If you go to the eRent site there are general instructions on the process and names of the reversal- I believe there is also a time limit on this process, so I would not wait around.
Note that once our tenants cancelled the transaction, we then had problems the following month because their bank had permanently halted all ACH payments to eRent. The tenants had to then go back in and instruct their bank to allow these payments.
thanks we have already had our tenant do that, no luck.
You'll want to read the last couple posts in this thread: https://www.biggerpockets.com/forums/52/topics/499...
Things are far from over... even for landlords who got paid in full and thought they escaped this.
came to see if anything more out there? They said in January they would do something, haven't heard from erentpayment since (what a surprise... )
I would not give erentpayment any benefit of the doubt. The company did everything wrong when the incident occurred. They did not answer phones or emails. I recently sent them another email to make sure they have my information and am waiting for a reply. I am actually surprised people still trust them to handle their rent collection.
still not paid me anything
They still owe me $5000
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing