How Do I Collect A Security Deposit Or Late Fees With ClearNow?

ClearNow does not debit tenants’ bank accounts for security deposits or late fees. We suggest that you collect these funds directly from the tenant. Once you and your tenants are enrolled, ClearNow is then able to debit your tenant for their rent payment on their scheduled debit day each month and deposit those funds into your bank account 3 banking days later. You are charged a service fee each time ClearNow attempts to debit your tenant’s bank account.

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Welcome RentMonitor Landlords!

Recently RentMonitor announced they will be closing their operations on December 19, 2016.  For those landlords using RentMonitor, ClearNow may be a solid alternative to meet their electronic rent collection needs.

ClearNow has been serving landlords and tenants since 2000, so we’re celebrating our 16th year of providing our electronic rent collection service.  Over the years, we have introduced a number of innovative features to help landlords and their tenants.  In addition to electronic rent collection, we provide an easy income and expense tracking tool for landlords.  We can also furnish ClearNow’s rent payment data to the Experian credit bureau for those tenants looking to build a credit history.  Finally, we remain focused on providing top notch customer service – available by telephone and email Monday through Friday 9am to 5pm ET.

We look forward to the opportunity to serve landlords who were using RentMonitor and to providing them with the stability, reliability, excellent customer service, and continuous innovation that ClearNow customers have enjoyed over many years.

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What Is The Best Way To Communicate With ClearNow?

ClearNow is dedicated to providing its customers with fast and efficient customer service. From the very beginning of the enrollment process, ClearNow customer support is available via email and telephone to answer any questions or concerns you may have. Our office hours are Monday – Friday 9am-5pm ET.  We encourage communication by email at Support@ClearNow.com.  We have knowledgeable representatives ready and prepared to respond promptly.  You may also contact us by telephone at (866) 882-5327.

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Powerful and FREE Tenant Screening Now Available for ClearNow Landlords

Landlords using ClearNow to collect rent electronically now have access to a powerful and FREE tenant screening service.  After much research, we believe this tenant screening service is superior to most other tenant screening services for a few reasons:

  • It is FREE to you. Rental applicants pay a $35 fee when they submit their credit report to you.
  • Designed for landlords – Easy to use, No site inspection, No paperwork.
  • You will receive a complete report in seconds – credit score, criminal background check, eviction report, and an easy-to-understand recommendation!

Getting started is quick and easy:

  1. Set up your tenant screening account here.  Once set up, you will add your rental property address along with the applicant’s contact information and indicate if you or the applicant will pay the fee (via credit card).  Most landlords have the applicant cover the fee as part of the application process.
  2. The applicant authorizes screening.
  3. Almost instantly, you will receive the applicant’s complete report so you can make a decision! It is that simple!

UPDATE:

Extra Savings! Until December 31, 2017, let your tenant know to enter “CLEARNOW5” at checkout to save $5 when they pay for the screening! Only $30 charged to them for a complete tenant screening solution.

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Powerful and FREE Tenant Screening Service for Landlords

Landlords using ClearNow’s RentalIncomeExpense.com tool to track rental income and expenses now have access to a powerful and FREE tenant screening service.  After much research, we believe this tenant screening service is superior to most other tenant screening services for a few reasons:

  • It is FREE to you. Rental applicants pay a $35 fee when they submit their credit report to you.
  • Designed for landlords – Easy to use, No site inspection, No paperwork.
  • You will receive a complete report in seconds – credit score, criminal background check, eviction report, and an easy-to-understand recommendation!

Getting started is quick and easy:

  1. Set up your tenant screening account here.  Once set up, you will add your rental property address along with the applicant’s contact information and indicate if you or the applicant will pay the fee (via credit card).  Most landlords have the applicant cover the fee as part of the application process.
  2. The applicant authorizes screening.
  3. Almost instantly, you will receive the applicant’s complete report so you can make a decision! It is that simple!

UPDATE:

Extra Savings! Until December 31, 2017, let your tenant know to enter “CLEARNOW5” at checkout to save $5 when they pay for the screening! Only $30 charged to them for a complete tenant screening solution.

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Bloomberg Article – Yes, there are Lots of Small Landlords

Today, Bloomberg.com has an article on a recent landlording trend: New Retirement Plan Is Millennials Paying Rent

There are some really great statistics in this article describing the huge number of small landlords in the United States.  For example,

  • Two thirds of single family rentals are owned by landlords renting 3 or fewer units.
  • Over thirteen million rental units belong to landlords renting 10 or fewer units.

Of course, the size of this market is not a surprise to us.  Throughout our history, ClearNow has been a leader in online services for landlords.

Sixteen years ago, ClearNow launched its core service of easy-to-use, inexpensive online rent collection.  Today, thousands of landlords and property managers use ClearNow’s core service to put rent collection on auto-pilot.   Over the years, ClearNow has continuously innovated.  Our “owner proceeds” capability for property managers continues to be unmatched as the simplest way for property managers to directly deposit collected rents between themselves and their property owners.  In 2012, ClearNow became the first service that allowed landlords and tenants to furnish rent payment data to a “Big 3” credit bureau – a milestone in allowing renters to benefit from making on-time rent payments.

And, this year, ClearNow launched RentalIncomeExpense.com, a free service for landlords to track rental income and expenses and generate reports in a way that an Excel spreadsheet cannot easily match.

Going forward, ClearNow plans to continue to innovate to address the needs of the huge market of small landlords.

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What Is “Owner Proceeds”?

Owner proceeds is a ClearNow feature that enables a property manager to directly deposit a portion of the rent collected to the owner’s bank account.  After the property manager enrolls the tenant and owner, the property manager can designate a set amount or percentage of rent collected per tenant to be deposited into the property management company’s bank account for property management fees. The remaining amount collected will be deposited to the owner’s bank account. The fee for owner proceeds is $2 per tenant, and it is charged to the property manager.

Credits to the property manager and owner bank accounts occur on the same day – three banking days after the tenant’s debit day.  With owner proceeds, property owners receive their funds faster and efficiently while property managers save time.

 

 

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