The article has been updated successfully.This feature requires that you sign up for the Propertyware ePayments module. If you are interested in more information, please contact sales@propertyware.com.
Propertyware’s ePayments module is tightly integrated with the Leases and Management module; the ePayments feature enables:
- Tenants or home owners to view their ledgers online
- Tenants to make secure payments via eChecks (ACH) or credit cards
- Property Managers to pay owner draws via eChecks (ACH)
Propertyware’s ePayment module allows you to offer tenants and home owners the option to view their outstanding balances and make payments online using variety of payment types including credit/debit cards and automatic debit from a bank account. In addition, you can accept electronic payments over the phone or onsite by enter ePayment information directly onto a Propertyware Lease and Contact. Further, you can pass on any fees associated with processing electronic payments to your tenants or home owners in the form of a convenience fee.
Your Propertyware Administrator may view and update your Propertyware ePayment settings from the ePayment Settings section of Propertyware’s setup. If your account is not currently ePayment enabled, you will be able to submit a form from this page in order to begin the process of enabling your account.
From the ePayments settings page you can:
- Designate a notification email account to receive updates regarding processed, pending and failed electronic payment transactions
- Configure your ePayment account settings including the source key, pin and the associated Propertyware bank account
- Configure any convenience fees you would like to pass on to your tenants and/or home owners for using the ePayments option. This convenience fee can be set for all portfolios or customized for each individual portfolio
- Setup a different destination bank account where you would like clear electronic payments to be deposited. This is a useful feature for property managers maintaining multiple bank accounts/trust accounts that would like to use Propertyware’s ePayments module
- Collect an application fee online via the Apply option available on rentals published to your Propertyware Portal
To access your ePayment Settings:
- Click the Setup link at the top of the application.
- Then, from the Administration Setup menu on the left side navigation, click ePayment Settings.
- When accessing the ePayment Settings, your current settings will be displayed; to edit them, click the Edit Settings button at the bottom of the box that appears.
- From the ePayment Settings page, you administrator may update the following options:
|
Field Name |
Description |
| ePayments Setup | |
| Notification Email | Enter the email address of the contact or mailbox where you would like to receive the ePayment notification email. An email is sent whenever an ePayment is approved or declined. |
| ACH and Credit Card Settings | |
| Source Key / PIN | Once the Propertyware ePayments module has been enabled on your account, your administrator will receive an email with a Source Key and Pin to activate the service. This information must be entered accurately for the ePayments module to process ACH and credit card transactions properly. |
| Bank Account | Select the appropriate bank account for which your ePayments account will be funding when the electronic transactions are cleared. This is the bank account where all electronic payments will be directly deposited (i.e. without the use of a bank deposit). Note You can sign up for two different ePayment accounts for ACH and credit card. This option would only be necessary if you plan to fund each type of transaction to a separate bank account. In most scenarios, you would sign up for one ePayments account that funds the same bank account. |
| Credit Card Restrictions | You can restrict credit card use to application fees only. This field will default to "No" (unchecked) and the singled and recurring credit card payment option will be available for edit and use on the tenant's portal. If you want to restrict use to application fees only, check the Only accept credit cards for application fee payments checkbox. If you restrict credit card payments to application fees only, the option to add/edit credit card information from the tenant's portal will be removed. If a tenant has already signed up for recurring credit card payment, activating this restriction will not remove the recurring payment. You will need to do that manually. |
| Convenience Fees | |
| ACH Convenience Fee | Enter the convenience fee that you would like to pass on to any tenants or home owners that elect to pay their past due balances with a direct deposit (eCheck / ACH) from their bank account. This additional fee will be displayed to them when they make their payment and will require acknowledgement. You can also designate the appropriate income account that you would like to use for this convenience fee by selecting an account from the adjacent dropdown menu. Note You can setup an ACH convenience fee for all your portfolios or customize it for each individual portfolio. If you would like to set the same ACH convenience fee for all your portfolios, click the Set for All link in this field. Alternatively, enter the appropriate ACH convenience fee for each portfolio displayed in the table below. |
| Credit Card Convenience Fee | Enter the convenience fee that you would like to pass on to any tenants or home owners that elect to pay their past due balances with a credit card. This additional fee will be displayed to them when they make their payment and will require acknowledgement. You can also designate the appropriate income account that you would like to use for this convenience fee by selecting an account from the adjacent dropdown menu. Note You can setup a credit card convenience fee for all your portfolios or customize it for each individual portfolio. If you would like to set the same credit card convenience fee for all your portfolios, click the Set for All link in this field. Alternatively, enter the appropriate credit card convenience fee for each portfolio displayed in the table below. **Visa, MasterCard, AMEX and Discover all mandate that property managers charge a flat fee when passing on a convenience fee, rather than a percentage of the total amount. If this presents a problem for your business, we encourage you to set a credit card convenience fee that is unique to each portfolio. |
| Destinations Bank Account |
This option allows you to designate a different bank account where all electronic payments processed for the selected portfolio should be funded. When this option is set, the sum of all electronic payments that have cleared for the selected portfolio will be moved via a journal entry to the selected bank account. This journal entry can then be viewed from the Owner Ledger located on the Summary page of the Management module. Note |
| Application Fees | There are three options for application fees: 1. Do Not Charge Application Fees - This option should be selected if you will not be charging an application fee or if you are not using ePayments for application fees. 2. Charged Fixed Application Fee - This options should be selected if you are charging the same application for every applicant including guarantors and additional household members. 3. Charge Application Fee by Number of Contacts on the Application - This option allows you to set specific pricing for each applicant type. You can also choose the general ledger account associated with the charges. |
- Once your ePayment Settings are complete, click Save.
