With ResidentPay™, you may decide to recover transaction expenses by charging residents a "convenience fee," or to provide the convenience of online rent payment at no additional cost to residents.
Convenience Fees
Major credit card user agreements do not allow you to charge transaction fees or impose surcharges for the electronic payments made by your residents. However, Property Solutions® may legitimately establish a "convenience fee" for providing residents with the option of using an alternative payment channel. Convenience fees may be structured to cover any or all electronic payment transaction costs.
Transaction Fees
If you choose to cover the expense of providing your residents with online payment options, ResidentPay™ offers discounted rates on qualified Internet transactions. Electronic check transaction fees are also billed at competitive rates. Volume discounts are available. Please contact Property Solutions® to determine the best transaction rates for your portfolio.
