Rentec Direct

If you have a landlord merchant account with ACHD, you currently receive an email whenever a payment bounces due to NSF or any other payment processing errors.   We’ve recently enhanced our integration layer with ACHD to include real-time rejection handling.  This means, if you process an ach on the 1st, and on the 5th (or any other day) the payment bounces for any reason, Rentec will automatically handle editing the transaction and notifying you of the failure.

Any payment failure will result in:

• The original payment value will be changed to $0
• If there was a fee associated with the payment, it will also be updated to $0
• The Completed ACH report will now indicate the payment as failed
• An email will be dispatched to you with the cause for rejection

This new feature is a time-saver whenever there is a failed ACH payment, and since it’s all automatic it helps eliminate errors since now nobody has to remember to go in and adjust the tenant’s ledger.  The whole process is now automatic.

Do you have a merchant account already and already disburse owner draws via ACH?  If not, have a look at the benefits.  If you already are setup with a merchant account, we’re pleased to announce a new report which displays the details of all outbound ACH transactions.  The report, like most others, has a customizable date range, and can be emailed or exported to PDF.  Within the report you’ll have access to the payment date, status, transaction id, amount, as well as an estimated delivery date taking weekends and holidays into account where the banks do not operate.  This new report is available to all property managers using ACH within the Financial Reports tab.

Of note, the data for this report just began accumulating recently; therefore, historical outgoing ACH transactions will not display.