Rental Property Investor · Charlotte, NC · Member since 2013 · 110 posts · 35 votes
I just noticed a new website sparkrent.com that seems to offer a very easy way of collecting rent via ACH deposit. It allows you to assess any late charges and also sends out email reminders. I assume this wouldn't be for everyone, but looks promising and inexpensive.
Has anyone tried one of these services? Please share any issues or success.
Investor · Hyattsville, MD · Member since 2012 · 822 posts · 441 votes
13y
While I mentioned I used erentpayment ($3/ payment fee), I just looked into 2 other new options: sparkrent.com, which Igor S. mentioned charges $1 per transaction and is owned by intuit (maker of quicken) and "Intuit Payment network" https://ipn.intuit.com/?
Sparkrent looks like a very new and slick but easy interface and very easy to track/ accept rent from multiple units, sends automated email reminders and offers recurring auto payments. No experience with them yet however but looks worth checking out.
Intuit also offers "Intuit Payment network" which charges 50 cent transaction fees for ACH transfers and invoicing feature, recurring payments etc. but it doesnt seem to have the same level of unit tracking or auto reminders that sparkrent offers. You have to decide if the 50cents is worth the additional organization of rent/ units etc and automation of reminder emails. Of course paper checks dont have any of the features of these services so to me, they would save time depositing checks regardless.. both are run by intuit so they are not fly by night companies.
Either way, there are 2 new options that are either 50cents or a dollar per month, which defintely beats some of the $3 or $5 per month offerings that have been around the past few years. Hope that helps people out...
Property Manager · Livonia, MI · Member since 2011 · 4k+ posts · 1k+ votes
12y
william paid. been using it for 2 months now. i dont like that they lump the payments together into the bank account instead of separating them. it would be easier to reconcile if they were separate.