With ClearNow, rent payment is always directly deposited 3 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 1st 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 4th of that month (which would be a Friday).
The reason the direct deposit occurs 3 banking days later is that ClearNow uses the ACH Payment network. With the ACH payment network, the tenant’s bank has 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.
We understand that our customers value precision. Throughout our email correspondence and in your ClearNow account, an exact schedule of when you’ll receive funds is always communicated.
How many times have you needed assistance only to be stuck on the phone with a recording? Well with ClearNow (www.ClearNow.com), we offer live toll-free phone support that is available Monday – Friday 9am-5pm EST. This allows you to converse with an actual human being who specializes in assisting you with questions or concerns you may have regarding ClearNow. We also have an amazing customer support group that will reply, in a timely fashion, to emails sent to Support@ClearNow.com.
ClearNow is committed to making its electronic rent collection service as convenient and easy to use as possible. So whether it is following up on enrollment materials or general questions about ClearNow, we are here to answer questions you may have!
No, a tenant cannot make a “partial payment” of rent with ClearNow (www.ClearNow.com). When ClearNow automatically debits a tenant’s bank account, either the entire amount of rent is successfully debited or nothing is debited.
For a landlord or property manager, ClearNow’s prevention of a “partial payment” of rent is a very good thing. As many real estate lawyers will advise (for example in this article: http://www.hometownlawfirm.com/attention-landlords-think-twice-before-accepting-a-partial-rent-payment-from-your-tenant/), accepting partial payment can mean that you are effectively waiving your right to evict a tenant – which is the most powerful leverage you have to receive rent payment.
ClearNow’s prevention of “partial payments” is superior to other methods of payment that landlords employ. For example, if a landlord provides deposit slips to their bank account to tenants or has tenants pay when they choose through bill payment, the tenant has the ability to make a partial payment of rent.
Yes. Tenants enrolled in ClearNow (www.ClearNow.com) may report their rent payments made while they are enrolled in ClearNow. ClearNow is a data furnisher to Experian RentBureau (www.experian.com/rentbureau).
Why Building Your Credit History Is Important
Credit plays an important role in your life — affecting the purchases you make and much more. A credit history is vital in today’s economy and enables you to obtain valuable credit services such as credit cards, mortgages, and auto loans. Lenders use credit reports and credit scores to gauge the likelihood that you will pay back a loan.
How Paying Rent On Time Helps Build Your Credit History
Experian incorporates on-time rental payment data reported to Experian RentBureau into Experian credit reports. Your rental payment information will be included as part of your standard credit report and may be incorporated into certain credit scores. The inclusion of positive rental payment history within Experian credit reports allows you to establish or build credit history through timely rental payments.
Yes! ClearNow does not have any tenant minimum. In other words, whether you are a landlord with one tenant or 200 tenants, you can absolutely use ClearNow! Collecting rent efficiently will save you time, and time is money. ClearNow recognizes that collecting rent from one tenant is just as important as collecting rent from hundreds of tenants.
Regardless of size, all landlords enjoy the same ClearNow benefits:
- Flat fee pricing: Debit tenants monthly, semimonthly, or biweekly – make it convenient for you and your tenants.
- Income & expense tracking: Track income and expense items within your ClearNow account for no additional cost!
- Live, dedicated, and knowledgeable customer support: We are here to serve you, so call us toll free at (919) 680-4500 or email us at Support@ClearNow.com.
What is the best solution for landlords to track income and expenses? Some are more expensive than others, and some are more complicated then others. Before spending any money or investing a lot of time to learn, why don’t you try ClearNow’s income and expense tracking?
In December 2014, we introduced our income and expense tracking capability where landlords can record income and expenses within their ClearNow accounts. If you use ClearNow to collect rent online, then the rents collected and the service fees paid are automatically recorded. You can record other income and expense items as you wish – very easily! One of the reports we provide is a schedule E helper to assist landlords with completing the 1040 schedule E making tax time a breeze!
We do not charge for income and expense tracking, so if you don’t want to use ClearNow for electronic rent collection, you can still use it for tracking income and expenses. Give us a call to learn more!
ClearNow is EXPERIENCED
- ClearNow has been serving landlords, property managers, and tenants since 2000 with a perfect BBB rating.
- ClearNow serves landlords and property managers of ALL sizes (1+ properties).
- Rent is always directly deposited 3 banking days after the debit day.
ClearNow is INNOVATIVE
- Tenants can build a credit history by having ClearNow furnish their ClearNow rent payment data to Experian and PRBC.
- Property managers can use ClearNow’s owner proceeds feature to directly deposit rent to the owners’ bank accounts.
- Landlords can track income and expenses – Makes the 1040 Schedule E a breeze!
ClearNow is AT YOUR SERVICE:
- Live and knowledgeable customer support is available Mon – Fri 9am – 5pm ET.
- Call ClearNow at 919-680-4500 or email Support@ClearNow.com.
- Tenants do not need a computer to use ClearNow. Tenants pay rent automatically – no need to remember to schedule payments!
Over the past month both WilliamPaid and SparkRent have announced that they are shutting down their online rent payment services. As a result, ClearNow has received a number of new customers transitioning from these services.
We really appreciate you choosing ClearNow! As you know, ClearNow has been in business since 2000, so we’re celebrating our 15th year of providing electronic rent collection services. We’re looking forward to providing you with the stability, reliability, excellent customer service, and continuous innovation (owner proceeds, income/expense tracking, reporting tenant payments to Experian RentBureau, etc…) that ClearNow customers have enjoyed over many years.
No. ClearNow is all about making the rent process as easy as possible, and it does not get any easier than an automatic rent payment. Once a tenant and a landlord enroll in ClearNow, the rent process occurs automatically every payment period: the tenant’s bank account is debited the amount of rent due, and the landlord receives funds three banking days later. The tenant just has to remember to have sufficient funds in his/her bank account a few days in advance of the debit day. That’s it.
Even though ClearNow is often referred to as an “online rent payment” service, tenants who are not comfortable using a computer or the Internet can still use ClearNow.
Yes. If you do not have a voided check to provide, then we can accept a bank statement or a bank letter. Your bank statement has to have your name and complete account number preprinted. Your bank letter has to be typed on your bank’s stationary and confirm your name, routing number, account number, and type of account (checking or savings).
You may submit your bank documentation to us with your completed enrollment agreement via email at Support@ClearNow.com.