Accept Rent Online with TurboTenant!
Say goodbye to coordinating rent check pickups, waiting for the mail, or dealing with bank deposit issues. With TurboTenant, collecting rent has never been easier or more convenient for both landlords and tenants.
In addition to providing a secure and reliable way to transfer money, TurboTenant offers a host of other features to streamline your rental payments:
Payment Tracking: Keep track of all your charges in one place for easy bookkeeping and tax season.
Payment Notifications: Get notified as soon as your tenant pays or if their payment is past due.
Autopay: Allow your tenants to put rent and utility payments on autopilot with just a few clicks.
Automatic Tenant Reminders: Let your tenants know they have an unpaid charge and stay on top of late payments.
Automatic Deposits: No need to make a trip to the bank; your money will be deposited directly into your account.
Automatic Late Fees: Designate a monthly past-due date and a late fee amount, and we'll handle the rest should your tenants pay late.
Late Fee option to require your tenants to pay past-due charges first
Rent Reporting: Tenants who use TurboTenant to pay their rent can take advantage of this exclusive service.
Everything in One Place: Keep track of rent payments alongside tenant contact information, important documents, and messages.
How to Get Started Collecting Rent
Ready to simplify your rental payments with TurboTenant? The first step is to create an account and select the Payments option during onboarding. Alternatively, you can navigate to the Payments section within a lease or visit the Payments page directly to get started.
Watch our video below for a step-by-step breakdown of how you can set up rent collection on TurboTenant.
To get started with setting up online rent payments, follow these steps:
Access the "Payments" tab within one of your leases or use the "Payments" tab from the toolbar. Alternatively, select "Payments" during the account creation process by clicking the "Get Started" button on our How It Works page.
Select or create a lease with an attached rental property and tenants. If you need to add any of these items, you can do so during the onboarding process. Tenants will not receive an invitation to their tenant portal until this process is complete.
Set up recurring or one-time charges for your lease. You only need to create one charge to get started within TurboTenant. We recommend setting up rent and/or security deposit first. This step can be skipped and you can always return to create your first charge!
Create your business or personal entity through our integration with Stripe. You will select which type of account you are creating and enter your entity information- all through the TurboTenant platform. Then, connect your bank account so you can receive payments.
TurboTips: Whether you set up a personal or business entity, you'll want to make sure that the bank account you connect matches the name on the account, or the business name.
If you have multiple businesses that are all collecting rent payments, we recommend creating an entity for each business. You can learn more here.)
Verify your information, including your full legal name and phone number, to set up payments successfully.
Enable partial payments, automatic payments, past-due payment prioritization, and automatic late fees during the setup process.
Review the information you entered on the summary screen. Once you're satisfied with the information presented, complete the rent payment setup. This will invite your tenant to their portal and place you on the Payments tab of the Leases page, where you can view all of your created charges.
After submitting your account for approval, you'll see an "awaiting approval" banner while our team checks your information. Once your account has been approved, you'll receive an email from TurboTenant notifying you that you're ready to start collecting payments.
We strive to review accounts as quickly as possible to minimize any delay in your payment processing setup.
* At TurboTenant, we use Plaid, a secure service, to connect to your bank account during the setup process. Your login information is encrypted and cannot be viewed by TurboTenant or your tenants, ensuring a safe and reliable connection to your bank account. This allows you to enjoy hassle-free rental payments with peace of mind.
If you are unable to find your bank or you don’t use online banking, you'll have the option to add your bank account manually using your routing number and bank account number.
Creating Subsequent Charges
After initial setup, you can add monthly or one-time charges by clicking "Create Charge" and following the required steps.
What is a Charge?
Charges are payment requests sent to each tenant on your lease. To ensure all tenants are included in your payment requests, add them to your TurboTenant lease. Click here to learn how to add tenants to your new leases.
We aim to make the payment process as convenient as possible for you and your tenants; that's why we send charges 15 days before they're due. Please note that tenants will only be notified of a posted charge 7 days before the due date, but they can make their payment up to 15 days early. This gives them ample time to make payments and ensures a smooth rental payment experience for everyone involved.
Charge Types
One-Time Charges
Your tenant is only charged once. These one-time charges are great for fees, security deposits, or pro-rated rent.
Monthly Charges
These are for recurring monthly charges that occur on the same day each month and are for the same amount each time. They are perfect for monthly rent, fixed utilities, or parking fees.
Have more questions on Rent Payments? Check out our Rent Payment FAQ article for additional information.