All Forum Posts by: Jennifer A.

I use erentpayment.  I had a rent payment and a security deposit caught in their mess.  Fortunately my client was able to reverse it.  I've had three other clients pay rent since the debacle with erentpayment and those were processed by erentpayment correctly.  I'm still waiting on the last one as it was submitted on the evening of the 2nd.  It does take awhile for those to clear.  I had my newest tenant use zelle.com and that was deposited the same day into my account with no fees.

@Jim Adrian

Yes, I have received two rents since the meltdown.  I did have a rent and security deposit that was impacted by whatever it was that happened and my tenant was able to successfully reverse those payments.

You definitely should have some of that information.  I've always found that getting an estoppel letter signed by both the tenant and the seller is the best way to gather most of that information.  Sadly, many realtors who sell/represent buyers in rented property have no idea what an estoppel agreement is.  That's unfortunate.  I want more than what the Seller represents to me, I want the signature of the tenant saying agreeing as to what the deposit is, who owns the appliances, the tenants names and contact information, etc.  You need to get that ASAP.  Prior to closing.  I then also write a letter to the tenants and have it delivered the day of closing giving them new payment information, contact information, etc.  I also summarize the information from the estoppel letter (this is my understanding of the term of your lease, security deposit, when rent is due, etc.). 

Here is a copy of what I use.  You can obviously modify it to ask for make and model of vehicles.  Full name of all occupants, etc.

I've found this EXTREMELY helpful.  Regardless of whether or not there is a written lease.

This Estoppel Agreement is used to protect everyone’s interests when an apartment building is sold. This agreement allows the tenants to tell the new buyer what their written and verbal rental agreements are with their current landlord. This will prevent any misunderstanding about your rent payments, security deposits, and lease terms.

1. Tenant Name(s): ________________________________________________________________________

Address and apartment number: ___________________________________________________________

2. I signed a written lease for this apartment. YES or NO (circle one), OR

I only have a verbal lease for this apartment.. YES or NO (circle one)

3. My lease began on _____/______/_______(date). My current lease ends on _____/_____/____(date).

Currently my lease is month-to-month YES or NO (circle one)

4. My rent is $______________per month or week (circle one) and is due on ____________________.

5. I have paid a security deposit. YES or NO (circle one) The deposit amount is $ ______________.

6. My most recent rent payment was made on ____________, 20_____ for the amount of $_______________

7. I am responsible for paying these utilities :________________________________(Write "none" if applicable)

8. Any other deposits or pre-payments are as follows____________________________________________ (Write "none" if applicable)

9. The appliances I own are:_________________________________________. (Write "none" if applicable)

10. The legal names of all people living in this apartment are:________________________________________

________________________________________________________________________________________

11. I have a pet. Yes or No (circle one) How many? _______ What breeds? ___________________________

12. Other written or verbal agreements I have with the landlord are: (Write "none" if applicable.)_____________

_________________________________________________________________________________________

13. Any problems related to my tenancy or any repairs that are needed are: (Write "none" if applicable.)

________________________________________________________________________________________

Signed by tenant ____________________________________________ Date: ____________

Signed by tenant _____________________________________________ Date: ____________

I have reviewed the answers given above and agree with the tenant’s statements regarding their payments, agreements and deposits.

Owner: _____________________________________________ Date: ___________

Manager:____________________________________________

It depends.  I typically get the call from the client and then I call and schedule the repair person. 

I meet the repair person myself:

1.  If I need to talk to the repair person; or

2.  f the tenant isn't around during the day; or

3.  If it is a contractor I haven't used regularly (a locksmith or something. 

Otherwise, I schedule and just inform the tenant so the tenant can let them in. 

I do have one tenant who tries to get "extra" repairs if I'm not there to monitor so I always go there.  For example, I had the hvac guy come to do the annual check on the furnace and the tenant managed to talk the repair person into changing out the thermostat even though it was functioning, she just didn't like it.  We'd had several conversations with her about this previously.  Frustrated me but I paid it because it was my own fault for not being there and setting guidelines with this repair person.

Because I have no auto-renewal provision in my leases, my law has no requirements about renewal notices.  Thus, I informally (via text) contact my clients about 60 days in advance of the lease termination about whether they want to renew or terminate and then send the letters out immediately after hearing from them.  They've always chosen to stay at all my properties so I give them a deadline to return the new lease and we are good to go.

I think fraud is a dangerous word to be throwing around.  I agree that new investors should be warned that people are not getting their payments.  I also agree that erentpayments response has been atrocious.  But alleging they committed fraud is a big allegation.

Fortunately most of my rents were processed prior to this issue.  However, they have a new tenant security deposit and first months rent of mine totaling about $2,500.  I could absolutely use that money right now.  I haven't pulled the plug on them yet, but I have another tenants scheduled to make a payment soon and will be stopping that if this isn't sorted out quickly.

What I understand is that the old bank has arbitrarily set a number or formula for the amount of reserves that erentpayment must keep with them after closing their accounts to cover any insufficient fund notices or disputes that come through.  Erentpayment should have known their bank would do this and should have been prepared for it.  Clearly they were not.  They also should have discussed this with their bank prior to moving banks.  Again, they clearly did not.  This is their fault and their lack of communication.  I believe the bank is holding the money for some arbitrary time period and it will be released.  Maybe I'm wrong but what we are hearing jives with my knowledge of banking and business.  I can understand why they aren't giving out the name of the bank.  What good is a bunch of angry phone calls to a receptionist answering the phone going to do?  I also understand why they aren't giving out the name of their attorney.  Attorneys charge for every minute they are on the phone.  With all the phone calls from angry customers, they would be up to the sky in legal bills and it isn't an appropriate use of their lawyers time.

While I certainly caution everyone to consider other options going forward, especially while this issue is unresolved and the communication from erentpayment is abysmal.  I ultimately think this will be resolved with everyone getting their money.

I resolved the login issue, but it does appear that I have some payments from a tenant that have not been processed since the 7th into my account.  I did find other threads on BP about the issues that erentpayment is having.  Apparently it is some banking issue.  I'm extremely concerned as I need this money to make payments for the mortgage.  Not acceptable!!

I just logged onto their site to confirm that I've been paid for all my deposits (I believe I have) and I can't log in.  That is troubling.  Especially when combined with your concern.

All my tenants also start on a one year lease except for inherited tenants which I put on a written month to month lease that automatically renews.  Each year though I review the rent and make adjustments if necessary.

I personally deliver letters on the day of closing (in the evening after closing has occurred). Allows me to introduce myself and say hello. If they aren't home, I either slip it under their door or tape it to their door and mail it as well. I want to give my contact information directly, not count on someone with one foot out the door to do it for me.

Here is the letter I use (and modify for each acquisition as appropriate):

Dear XXX, XXX and XXX:

My name is Jennifer A, myself and XXX are the new owners of the duplex located at XXX in XXX, WI.This change in ownership is effective today, December 29, 2016.The purpose of this letter is to do the following:

1. Notify you of the change of ownership.If you need to contact me regarding maintenance, your lease or any other issue related to the property, you can contact me via text or telephone at XXX.  Additionally you can email me at XXX.  Rent for January should be mailed to XXX and made payable to Jennifer A.
2. Notify you of my understanding of your tenancy.It is my understanding based upon the representations made by the Seller and the Estoppel Agreement that you signed, that you have a security deposit of $890.00.You are a month to month tenants (there is no written lease) and that the monthly rent is $890.00 and due no later than the 5th of each month.As the tenants, you are responsible for all utilities and lawn maintenance.The sole occupants are XXX, XXX and XXX.  I am including a copy of the estoppel agreement for your reference.I do note that you indicated on the estoppel agreement that you have a dog.Your previous landlord indicates that there is no dog occupying the property.If you intend to get a dog (or any other pet) in the future, we need to discuss it.There will be a pet deposit and a monthly pet fee.There is no pet fee or deposit for pets such as fish and I do not need to be notified of fish.
3. Provide you the following documents which will create a new written lease agreement that shows your continued occupancy and the terms of the occupancy.Please note that the new lease continues to be a month to month lease (not a year lease) and that rent is now due on the 1st day of the month.This new lease will start as of February 1, 2016.
   1. Residential Rental Contract;
   2. Rules and Regulations;
   3. Domestic Abuse Protections; and
   4. Contact Information

I will need all of this paperwork completed and returned to me no later than January 5, 2017.Failure to return this paperwork will be construed as notice that you wish to terminate your tenancy and your occupancy of the property will end on February 28, 2017.All paperwork should be returned to the address above.

1. If there are any repairs that need to be me made that you are aware of, please let us know as soon as possible.Appropriate notice will be given to you of any entry onto the property.At the current time, I believe the items you noted in your estoppel have been addressed by your previous landlord, XXX.

If you have any questions or concerns, please feel free to contact me.