Property managers using ResidentPay™ don’t need to wait for weeks for notification of bounced checks. ResidentPay™ notifies you automatically, and within days, whenever an electronic check “bounces”.
Charge Back Notifications
Charge backs result when a payer reports that a particular credit card charge is "fraudulent." If this occurs, the payment amount will be pulled back from your bank settlement account. In the event of a charge back, ResidentPay™ provides a charge back report to assist you in pursuing collections from the respective payer. You may also challenge a charge back by providing evidence that the resident who initiated the charge back owed the amount paid and authorized the transaction.
NSFs
If an electronic check payment is returned with “non-sufficient funds” (NSF) status, ResidentPay™ notifies you and automatically adjusts payment records. NSF adjustments are automatically integrated with your property management software and reflected in the resident’s monthly statement and payment history.
