Online rent payment services make paying and collecting rent easier and faster for landlords and tenants. Tenants do not need to mail a check or deliver payment to the landlord in person. Landlords do not need to make a special trip to the bank. Services will directly deposit rent to their bank account. Each online rent payment service has their own enrollment process. This blog post will cover ClearNow’s and the types of bank documentation for ClearNow online rent payment.
To enroll in ClearNow, landlords and tenants complete an enrollment agreeement and submit it with their bank documentation. The types of bank documentation include a voided check, bank statement, direct deposit form, or a bank letter. More people today do not write checks and thus do not have a checkbook. It is okay if you do not have checks. The other types of bank documents like statements and letters will suffice. Bank statements have to show your name and complete account number preprinted. Bank letters need to be typed on the bank’s stationary and confirm your name, routing number, account number, and type of account (checking or savings). Landlords and tenants easily submit enrollment agreements and bank documentation online.