You can change your bank account information by logging into your ClearNow account. Once logged in, select “My Info”, then “My Bank Info”. Follow the prompts to print the Property Manager Enrollment Agreement. The box next to “Bank Account Change” should automatically be checked. Submit the completed Agreement with your bank documentation for the new bank account. Confirmation of the change will be sent to you via email.
Does ClearNow Cost $14.95 for Every Tenant?
No. ClearNow fees are based on the debit day and are only charged when landlords attempt to debit a tenant. Fees are paid by the landlord/property manager. The choice of debit days include:
- For monthly debits on the 1st, 5th, 15th, or 25th: $14.95/month for one debit. Each additional debit is just $2/month.
- For semimonthly debits (twice a month on the 3rd & 17th): $4/debit.
- For biweekly debits on every other Tuesday: $4/debit.
For example, the fee for five tenants for a monthly debit would be $22.95/month ($2 x 4 tenants + $14.95). The semimonthly fee for five tenants would be $40/month ($4 x 2 x 5 tenants).
Can I Change My Account ID and Password to Something I Remember?
Of course you can! We encourage you to become familiar with all parts of your ClearNow account, which includes personalizing it! You may change your Account ID and password to something that is easier for you to remember. Simply log into your ClearNow account, select “My Info” from the menu on the left-hand side, then “My Contact Info”, change your Account ID and password, and click “Save”. It’s just that simple!
Improvements to Rental Income Expense Tracking
Towards the end of last year, ClearNow launched a free feature for your ClearNow account – “income and expense tracking.” Over the past 10 months, we’ve been gathering feedback from ClearNow customers who have been using this tool, and today, we are rolling out a significantly improved version:
- Simpler and easier to use. The “Income/Expenses” screen has been redesigned to make it easier for you to add, edit, delete, and search for income and expense records. We’ve added buttons so you can quickly view the “Profit & Loss” and “Schedule E Helper” reports that are created from your income and expense records.
- More powerful. The “Profit & Loss” and “Schedule E Helper” reports are easier to read and now contain clickable links so you can see the details behind the totals in these reports.
To begin tracking your income and expenses, log into your ClearNow account and click “Income/Expenses” from the left hand menu.
If you’re using a spreadsheet to manage your income and expenses or a software system that just doesn’t work well for you, we hope you will try ClearNow’s income and expense tracking tool. It’s already incorporated into your ClearNow account, and rents from enrolled tenants and associated ClearNow fees are automatically tracked for you. Best of all, it’s free!
What Are Some Advantages For A Tenant to Use ClearNow?
There are many advantages for a tenant to use ClearNow! For one, ClearNow is Free! Fees are paid by your landlord or property management company. You have the opportunity to pay your rent electronically without having to go out of your way to write and deliver a check or money order. Signing up with ClearNow enables an automatic debit from your bank account and does not require your initiation each month. One of the greatest benefits of using ClearNow is the ability to report the rent payments to Experian. This will allow you to build a credit history.
What is a “block” and when can I “block”?
If you know ahead of time that you will not have the necessary funds in your bank account on your scheduled debit day, you have the option to do a one-time block. A block is a one-time request to not debit your account for that payment period. Your account will not be debited, and you will need to make arrangements to pay your landlord directly. Your ClearNow debits will automatically resume for the next payment period. The deadline to request a block is always one banking day prior to the debit day before 12:00pm (noon) EST. Both your landlord and you may call and request the block or log into your ClearNow accounts and block the debit yourselves. Blocking a debit is a proactive way to avoid possible late or bank fees. ClearNow service fees are also not charged for a blocked debit.
My Payment Failed. Will You “Run It Again?”
If your debit has failed, ClearNow will not reattempt the debit for the same payment period. Email notification will be sent to you and your landlord of the failure, and you will need to pay your rent directly to the landlord for that payment period. Your debits will automatically resume for the next payment period.
Does ClearNow work on my smartphone?
Yes. Since our launch in 2000, all ClearNow accounts have been completely Web-based (online). You have always been able to use our service on any device (laptop, tablet, smartphone) with a Web browser.
We’re pleased to announce that that all customer accounts (landlord, property manager, tenant, and owner) now feature a revised, simplified menu system that is mobile-friendly. This means that our customers’ experience on smartphones is better than ever before.
How long has ClearNow been around?
A long time!! ClearNow has been serving landlords, property managers, and tenants since June of 2000 with a flawless record (A+ rating) with the Better Business Bureau. As one of the first online rent collection and payment services, ClearNow has made online rent collection easy and affordable for landlords and property managers of all sizes. Landlords with just one tenant can use ClearNow!
We have lots of experience with online rent collection and are happy to provide customer references upon request. Over the years, we strive to provide value for our customers. In addition to online rent collection and payment, we can furnish ClearNow rent payment data to Experian RentBureau for tenants who want to build a credit history. Landlords can track income and expenses and generate a Schedule E helper report. And property managers can directly deposit rent to owners’ bank accounts.
ClearNow customer support is available via telephone or email Monday through Friday 9am – 5pm ET. Call us at (919) 680-4500 or email us at Support@ClearNow.com.
How Long Does It Take To Receive Rent?
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.