Landlords want to access rent payment as quickly as possible. According to their website, Apartments.com takes three to five business days to process rent payments by ACH. A fast turnaround is important to landlords who need to pay their mortgage using the rent they collect! Apartments.com takes so long to deposit rent that we can understand if landlords seek other services, like ClearNow.
With ClearNow, rent payment is always directly deposited three banking days after the debit day. “Banking days” are business days (Monday through Friday) not including any federal bank holidays. As an example, if your tenant is debited on the first of the month and that is a Tuesday, then if there are no federal bank holidays that week, you would receive a direct deposit to your bank account on the fourth (or Friday of that week).
ClearNow uses the ACH Payment network. With the ACH payment network, tenant bank have two banking days to notify us if the debit fails (for reasons such as insufficient funds or a closed bank account). Once that window has passed, the funds have cleared, and the direct deposit occurs to your bank account. ClearNow turns around the deposit as quickly as possible.
ClearNow understands how its customers value precision. With our long history of serving landlords and tenants since 2000 and constant email communication, landlords always have an exact schedule of when they’ll receive funds. Compared to ClearNow, Apartments.com takes so long to deposit rent.