Rentec Direct property managers now have the option to send notifications to their owners when sending owner disbursements via ACH to their clients.
Owner disbursements are payments made to owners for rental income and various property expenses or fees. With a Rentec Direct merchant account, Rentec Direct clients can make these payments electronically via ACH, which is a secure and convenient way to pay owners.
While owner payments are expected to be remitted monthly, depending on your state’s property management laws, some owners appreciate the additional communication from their property manager to know exactly when the payments are being processed.
This new update from Rentec Direct will automatically notify owners when their ACH payments are processed, letting them know their funds will soon be available in their account.
Notify Owners when Distributions are Paid via ACH
As a Rentec Direct client, you can automatically notify your owners by email when an owner payment has been made via ACH. This notification helps your owners know their funds will soon be available in their account and will simplify your owner communication tasks.
Below is an example of the email your owners will receive when you make an owner disbursement via ACH.
Turn On Owner Payment Email Notifications
If you would like your owners to receive an email notification when an ACH payment has been made for an owner disbursement, you simply need to turn the setting on in your Rentec Direct account.
In your Rentec Direct account:
- Click Settings
- Under Program, click Program Defaults
- Under General Preferences, find the option for “Email property owners notifying distributions are sent by ACH?”
- Select YES
- Scroll to the bottom of the page and click Save Changes
Turn Off Owner Payment Email Notifications
If you signed up for a Rentec Direct account after March 23, 2022, this setting will be on by default. If you wish to disable automatic email notification for ACH owner disbursements, follow the instructions above to update your settings to NO.
When will the owner’s payment arrive in their account?
The owner payment email notification lets your owners know that a payment is being processed. It does not inform your owners when the funds are available.
Bank payment processing times will determine when the funds will be available in your owners’ accounts. Most large banks deposit electronic funds within 48hrs after the payment has been processed, but it will depend on your owners’ banking institution.
Product Updates and Feature Enhancements for Rentec Direct
This product update is the result of valuable feedback and input from our awesome clients. If there is a new feature or a software enhancement you would love to see added to Rentec Direct, let us know at success@rentecdirect.com. We love hearing from our clients and value your suggestions.
Rentec Direct is the most customer-friendly property management software. Features include online rent payments, tenant and owner portals, one of the industry’s largest vacancy listing syndication networks, full property, tenant, and owner accounting, 1099-MISC reporting and more. Rentec Direct was recognized as Real Estate Company of the Year in the 2022 American Business Awards®, and was named the Most Customer Friendly Companies of the Year in the 2022 Best in Biz Awards, has been named to the Inc. 5000 List of Fastest-Growing Private Companies for six years in a row