Key Features of TurboTenant Rent Payments

In addition to providing a secure and reliable way to transfer money, TurboTenant offers a host of other features to streamline your rental payments:

Autopay: Let tenants set up automatic rent and utility payments with just a few clicks.
Automatic Deposits: Rent payments are deposited directly into your connected bank account - no trips to the bank needed.
Automatic Late Fees: Set a due date and fee amount, and TurboTenant will automatically apply late charges when rent is overdue.
Automatic Tenant Reminders: Tenants receive reminders when they have an unpaid charge, helping reduce missed or late payments.
Everything in One Place: Manage rent payments alongside lease documents, tenant contact info, and messages - all in your TurboTenant account.
Late Fee Prioritization: Require tenants to pay past-due charges before making future payments.
Payment Notifications: Get real-time updates when tenants make a payment or miss one.
Payment Tracking: View and track all your charges and payments in one place for easier bookkeeping and tax prep.
Rent Reporting: Help tenants build credit by reporting on-time rent payments through TurboTenant’s exclusive rent reporting service.
Partial Payment: Allow roommates to split their rent!

How To Set Up Online Rent Payments

Follow these steps to start collecting rent online through TurboTenant:

Add Your Rental Property
If you haven’t already, add your rental property to your TurboTenant account.
Create or Select a Lease
Go to the Payments tab (within a lease or from the top toolbar) and click Get Started.
- Choose an existing lease, or create a new one that includes your property and tenants.
Add Charges
Set up at least one charge (e.g., rent or security deposit).
- You can create recurring or one-time charges.
- This step can be skipped and completed later.
- Automatic late fees (if any)
Set Up Your Bank Account where the payments will be deposited into
Add your business or personal entity and connect your bank account to receive payments.
- If you manage multiple rental businesses and have separate LLCs, or bank accounts for each, set up a separate entity for each. Click here to learn about business entities.
- We offer a secure Bank Connection with Plaid
  TurboTenant uses Plaid, a trusted and secure service, to connect your bank account.
  - Your login info is encrypted and never visible to TurboTenant or your tenants.
  - If your bank isn’t listed or you don’t use online banking, you can manually connect your account using your routing and account number.
Verify Your Identity
Confirm your full legal name (must match your ID) and phone number to complete your payment setup.
Customize Payment Options within your lease settings (Optional)
Enable features like:
Complete Setup & Invite Tenants
Once setup is complete, your tenant will receive an invitation to their portal. Note, you can delay the tenant invitation whether you convert them from an applicant to a tenant or add the tenant manually.
- You’ll be able to view and manage charges from the Payments tab in your lease.

💡 Best Practice: Connect the Right Bank Account
When setting up online rent collection, make sure the bank account name matches the name on your personal or business entity. This ensures smooth deposits and accurate income reporting on your 1099-K.

What to Expect After Setting Up Rent Payments

Once you submit your account for rent payment setup, you’ll see a "Pending Verification" notice in your account that says:

“Each landlord using rent payments goes through a quick identity verification check. It typically takes less than 48 hours. We’ll email you once it’s complete, or if we need any additional information.” We aim to complete this process as quickly as possible to avoid any delays with your rental process.

💡 Best Practice:
If you plan to collect rent through TurboTenant, we recommend setting up your payment account at least 5 business days in advance before the due date. This allows plenty of time for:

Your identity to be verified (Less than 48 hours)
Your tenant to set up their payment method
Rent to be paid on time

This helps ensure a smooth and timely rent collection experience for both you and your tenants.

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.

Charge Types

One-Time Charges

Your tenant is only charged once. These one-time charges are great for fees, utility bills, 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.

Creating Charges

After initial setup, you can add monthly or one-time charges by clicking "Create Charge" and following the required steps. Click here to learn how to create charges.

Payment Notifications in TurboTenant

Stay informed about your rental payments by turning on notifications in your account settings. You can choose how and when you want to be notified - via email or push notifications through the TurboTenant app.

Notification Types

Daily Payment Summary (Email Only)
Get a once-a-day summary of all payments received.
*Note: If this is enabled, you won’t receive individual payment notifications.
Individual Payment (Email Only)
Receive a separate email each time a payment is made.
*Note: This option is only available if the Daily Summary is turned off.
Push Notification (Mobile App Only)
Receive an instant alert from the TurboTenant for Landlords app when a payment is made.
*Requires the app to be installed on your phone.