Cozy recently announced that renters who use its online rent payment service will no longer be able to report their rent payments to Experian.
At ClearNow, we’re puzzled why any online rent payment service would end something so beneficial; so many tenants are looking to build credit history. We’ve long believed in the power of rent to build credit history. In 2011, ClearNow was the first online rent payment service to allow renters to report payments to Experian. Unlike Cozy, we have no plans to ever stop offering this valuable service.
For tenants who are interested in reporting their rent payments to a big 3 credit bureau, ask your landlord to sign up for online rent payment with ClearNow at www.ClearNow.com. Your rent payments should help you build your credit history.
Every property manager needs to collect rent from tenants and then send those rent payments – less property management fees and other incidental charges – to the property owners. These fund transfers of collected rent to the property owners are known as “owner proceeds” or “owner disbursements”.
ClearNow has long made collecting online rent payments from tenants easy and automatic. Less well known is that ClearNow has a unique capability in the online rent payment industry: We can also directly deposit owner disbursements to property owners. Automating these fund transfers makes your life as a property manager so much easier and allows your customers, the property owners, to get their funds quickly.
We are happy to announce that we have adapted the same all online process (complete with esignatures and bank document uploads) that our landlords and property managers use to enroll tenants to now apply to property owners. Property owners enroll completely online. There is no need anymore for paper, printers, or delays.
With ClearNow, property managers just log into their ClearNow account, click ‘Add Owners’, provide property owner’s name and email address, and click ‘Send Email.’ The property owner will receive an email explaining how they can provide their information and esign to have rent payments directly deposited to their bank account. As the property manager, you don’t even see the property owner’s bank account information, which provides an extra measure of privacy and security for your property owner customer.
Finally, when the property owner completes their part, you will be able to set up a simple formula that allows you to keep a dollar amount or percentage of rent from a tenant’s online rent payment. The remainder of those funds is directly deposited to your property owner’s bank account three banking days after the tenant’s debit day.
To get started using ClearNow for this valuable feature and learn how affordable it is (hint: $2 a payment!), visit ClearNow.
ClearNow has introduced a simple and affordable esignature tool, eSignToday (eSignToday.com). Now you can get your leases or any document esigned for just $0.50 a signature. There are no monthly subscriptions.
Over our many years of working with landlords, we have received feedback on what would make their lives easier. Beyond online rent payments, easy lease signing was another popular request. Because leases are specific to each landlord, we needed to make signing easy while preserving the uniqueness of each lease. In addition, we wanted to apply what we have learned with ClearNow’s online rent payments where the best tools are (a) mobile friendly, (b) easy to use, and (c) a time saver. Last but not least, the VERY BEST tools are affordable.
Esignatures are the solution for easy signing as anyone can sign while on the move . . . on a phone, tablet, or laptop. Esignatures eliminate printers, paper, and delays. The problem with most esignature tools is that they are not affordable as many of them (e.g. Docusign, Adobe Sign) require a monthly subscription. So if you only need one or two signatures a month, paying $10/month or more is overkill.
There is no monthly subscription with eSignToday. Instead, you pay $0.50 for each signature you need. That’s it.
eSignToday is available to anyone who needs a document signed, and it’s easy to use:
- Set up a free account at eSignToday.com
- Upload your document
- Email the document to each person who needs to sign it
- View a fully signed document where all signatures appear on the last page.
Landlords using ClearNow to collect online rent payments now have access to a powerful and FREE tenant screening service. We believe SmartMove is superior to most other tenant screening services for a few reasons:
- It is FREE to you. Rental applicants pay a fee when they submit their credit report to you.
- Designed for landlords. Easy to use, no site inspection, and no paperwork.
- You will receive a complete report in seconds. Credit score, criminal background check, and an eviction report are presented in a straightforward recommendation.
Getting Started is Quick and Easy
- 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.
- The applicant authorizes screening.
- Almost instantly, you will receive the applicant’s complete report so you can make a decision. It is that simple!
Why Tenant Screening is Useful
Tenant screening is useful for landlords because it provides insight into the type of tenant an individual might be before committing them to a lease. Tenant screening with TransUnion’s SmartMove, enables landlords to learn more about a tenant’s background through their credit score, criminal background check, and eviction report.
You may enroll a tenant on a month-to-month lease the same way you would enroll any other tenant. After your tenant completes the online enrollment agreement, they’ll receive an email entitled “One More Step”, which will contain a link asking your tenant to upload their bank documentation directly to ClearNow. This security measure further simplifies our enrollment process and eliminates the need to attach a separate file in an email.
Once we process their materials, they will be added to your account, and you will receive an email instructing you to set their rent amount and lease end date. When you input the lease end date, we recommend you set it for three to six months out so you don’t have to log in every month and extend the date. Should the tenant vacate in advance of the date you set, you will then need to unenroll the tenant from ClearNow.
We also suggest that you explain to your tenant why you set the lease end date as you decide since we will notify your tenant of the lease end date as it is set in ClearNow.
No. ClearNow is not able to retroactively debit your tenant’s bank account due to an expired lease end date. You will need to make arrangements with your tenant to have them pay their rent directly to you for any payment period that was missed. Once you have entered their new lease end date, their debits will automatically resume for the next payment period.
A block is a one-time request to not debit your tenant’s bank account for the upcoming payment period. If you or your tenant know ahead of time that your tenant will not have the necessary funds in their bank account on their scheduled debit day, you have the option to do a one-time block. Your tenant’s bank account will not be debited, and you will need to make arrangements to have your tenant pay you directly. ClearNow debits from your tenant’s bank account will automatically resume the next payment period.
If you or your tenant do not want to debit for several payment periods, then we suggest that you unenroll the tenant and then reenroll the tenant when debits should resume. This way, you or your tenant will not forget to block a debit.
Absolutely! Your tenant can still enroll in ClearNow even if they do not have checks. We accept other bank documents for enrollment such as their bank statement, a direct deposit authorization form for payroll as provided by their bank, or a bank letter typed on bank letterhead that confirms your tenant’s name and full account number.
After your tenant completes the online enrollment agreement, they’ll receive an email entitled “One More Step”, which will contain a link asking your tenant to upload their bank documentation directly to ClearNow. This security measure further simplifies our enrollment process and eliminates the need to attach a separate file in an email.
You may want an additional ClearNow account if you need a different debit day to accommodate a tenant’s request, or if you need to deposit to a different bank account than what we currently have on file. The best way to notify us is via your ClearNow account. After you’ve logged in, from the left-hand menu select “My Info” and then “Set up Addl Acct”. There are two links, and you may use the same bank account we have on file or you may choose to deposit to a different bank account. Be sure to include what debit day you want your additional account to debit on in the box that pops up. Monthly options are the 1st, 5th, 15th, or 25th and the fee is only $7.95, which includes the debit of one tenant (additional tenant debits are $2 each, per month).
If you want to deposit to a different bank account, please be sure to complete the agreement online. Once you submit the agreement, you’ll receive an email asking you to upload your bank documentation. We can accept a voided check, bank statement, or a letter from your bank on bank letterhead.
ClearNow has introduced a new tool, eSignToday, to get your leases esigned. It costs just $0.50/esignature!
Over our many years of working with landlords, we have received feedback on what would make their lives easier. Beyond easy rent collection, another common request was easy lease signing. Recognizing that leases are very specific to each landlord, we spent time researching how we can make lease signing easier while preserving the uniqueness of each landlord’s lease. In addition, we wanted to apply what we have learned with ClearNow’s online rent payments where the best tools are (a) mobile friendly, (b) simple to use, and (c) a time saver. Last but not least, the VERY BEST tools are also affordable.
Esignatures are the solution for easy signing as anyone can sign on a phone, tablet, or laptop. You do not need a printer, and all paper and delays are eliminated!
What we have found, however, is that most esignature tools are not affordable as many of them require a monthly subscription. So if you only need one or two signatures a month, paying $10/month is overkill.
With eSignToday, you can easily get your leases esigned . . . all for just $0.50/esignature. ESignToday is easy and cheap.
- Use your lease and use eSignToday for signatures
- Tenants instantly esign on their phones at their convenience
- Eliminate paper and delays!
Pay only $0.50/esignature. NO monthly subscription fees.
We hope you find lease signing to be easier with eSignToday!
Set up a free account today at eSignToday.com!