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!
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.
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.
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.
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.
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.
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! 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.