Collecting rent - overview

RentSpree's rent collection tools let you send payment requests directly to your tenants and track everything in one place. Whether you need a one-time deposit before move-in or a recurring monthly rent collection, this section walks you through how it works, what to expect on timing, and what your tenants will experience.

What you can collect

RentSpree supports two types of payment requests:

• One-time payments: security deposit, prorated rent, pet deposit, utilities, or any other charge. Use these for move-in costs or one-off situations.
• Recurring payments: monthly rent, automatically requested on a schedule you set. You can also enable a late fee that applies after a grace period you choose.

All transactions must be between $3 and $10,000.

How your tenants pay

When you send a payment request, your tenant receives an email with a link to pay directly through their RentSpree account. They have two options:

• ACH bank transfer: no fee to your tenant. Funds arrive in 3 to 5 business days.
• Credit or debit card: a 3% fee applies to the tenant. Funds arrive in 1 to 3 business days. Card payments are limited to $5,000 per transaction.

What you receive

For recurring rent payments, RentSpree charges a $3 processing fee per transaction. This fee is deducted from the amount you receive. A $2,000 recurring rent payment, for example, results in $1,997 deposited to your account.

There is no fee for one-time payment requests.

Timing: what to expect

Your first payment through RentSpree takes 7 to 10 business days to arrive. This is a one-time delay while your account goes through verification. After your first payment clears, future payments follow the standard ACH timeline of 3 to 5 business days (or 1 to 3 business days for card).

Where the money goes

You can receive rent through two options: RentSpree Money (a built-in wallet) or your own connected bank account. You'll set this up when you configure your first payment request, or anytime through Payment Settings. If you change your receiving account while a payment is in process, funds from in-process transactions will go to your previous account.

Tax and banking setup

Before you can receive funds, RentSpree requires you to complete a short tax and banking verification. You'll be prompted to do this the first time you set up a payment request. This is a one-time step.

Tracking and managing payments

Every payment you've requested is visible in your Payments tab. You can see which payments are pending, in progress, completed, or past due. If a tenant pays you outside of RentSpree (cash, check, Zelle), you can manually mark a payment as paid so your records stay accurate. This action is irreversible and is not available for payments that are currently processing.