Set up RentSpree Banking

RentSpree Banking is a built-in account for landlords. Rent deposits land in a dedicated account separate from your personal finances, and you get virtual and physical debit cards that earn 1% cash back on eligible purchases, transactions organized by property, and interest on your balance.

Two ways to start

• When you send your first payment request, a prompt asks where your payout should go. Select Continue to set up RentSpree Banking.
• Or from the Finance tab, select Banking, then Get Started.

Choose your account type

Select Individual Sole Proprietor (you manage your rental as a personal investment) or Single-Member or Multiple-Member Business (your rental is owned by a business entity). Both verify your identity and tax information: individual accounts need your date of birth, Social Security number, and address; business accounts also need your EIN and entity type. A verification code goes to your phone.

Review and submit

Sign the certification, consent to electronic records, then review and submit. Your application goes into review, and RentSpree notifies you once it's approved. After approval, your Banking Dashboard shows your debit card, lets you fund the account, and tracks transactions by property.

How interest works

Annual Percentage Yield (APY) is variable and subject to change after account opening. Rate is compounded monthly and credited monthly. Total balances less than $10,000 earn up to 1% APY. Total balances between $10,000 and $49,999 earn up to 2%. Total balances of $50,000 or more earn 2.67% APY.

Set up your payout account before sending your first request. See rent collection timing.