Property Management, Tenant Selection, Real Estate News & Tips

Pay Owner Wizard – Paying Owners Just Got Easier

By on September 15, 2016 in Product Updates with 0 Comments

Our core focus here at Rentec is to save you time.  If you are paying owner disbursements (profits) on a regular basis, we’ve just introduced a feature which might just save you hours or days of work every month!

We’re pleased to introduce the new Pay Owner Wizard!

In one simple step, you can now pay all owners affiliated with the properties you manage.  This new tool supports all the payment methods used to pay owners including Check, Print Check, and ACH.

If you are setup with an EasyPay Merchant account, doing outgoing ACH payments to your owners to fully automate your processes and have a green, paperless office is super efficient using this pay owners wizard.  If you aren’t already setup with a merchant account, it is a very simple process.  Plus owners love getting monthly direct deposits into their account.

Pay Owners Wizard In Action (click to zoom)

Pay Owners Wizard In Action (click to zoom)

How to Use the Pay Owners Wizard

  1. Edit your owner(s) and configure the owner’s payment preferences (check, ACH, or print check).
  2. Visit the Accounts tab, and click “Pay All Owners”.  Or do it selectively by owner and/or account.  We give you maximum flexibility to work within your business model.
  3. Select the owners you want to pay, verify the amounts, and click Submit.

That’s it!  The system handles all the back-end processing for you by creating the ledger entries for checks and sending out the ACH payments via your merchant account.  We’ve even created a new report so you can view and audit any payments sent.  It can be found at Reports, Owner Payments Wizard.

Full documentation on this feature, complete with screenshots can be found by CLICKING HERE.

This new feature has been rigorously tested and is production ready; however, it will be considered a beta feature until it’s had a couple months of live transaction processing.  You are welcome to use it and if you experience any issues, please report them back to us at support@rentecdirect.com.

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About the Author

About the Author: Nathan is one of the founders of Rentec Direct and has been with the company since 2008. He has a passion for application security and spends an incredible amount of time ensuring your data is protected. When Nathan is not day-dreaming about 1's and 0's, you may also find him "tuning" the development schedule to get that next big feature in your hands sooner! .

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