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RentPayment is a payment processing platform designed specifically for collecting rent on properties and housing. Launched in 1999, RentPayment is a subsidiary of YapStone Inc. that enables tenants to pay rent to landlords and property owners via credit card, debit card, e-check, phone, or text message. There is some evidence that YapStone (and, by extension, RentPayment) is an ISO of Chase Merchant Services. YapStone also offers other services that are similar to RentPayment, such as Vacation RentPayment, Storage RentPayment, DuesPayment, and InnPayment. In September of 2020, RentPayment was acquired by MRI Software, a real estate software development company.
RentPayment Payment Processing
RentPayment processes all major debit and credit cards for property managers, landlords, and residents. It also processes ACH, e-check, and cash payments (cash via MoneyGram) and offers a payment app.
Online Payment Portal
RentPayment offers an online payment portal that enables tenants to make rent payments via credit card, debit card, or e-check. The user-friendly platform streamlines the rent collection process for property managers and allows tenants to make payments conveniently and securely.
Mobile Payment App
RentPayment provides a mobile payment app for both iOS and Android devices. This feature enables tenants to make rent payments on-the-go, directly from their smartphones or tablets. The mobile app adds an extra layer of convenience for tenants and property managers alike.
Property Management Software Integration
The company integrates its payment processing system with popular property management software platforms. This seamless integration helps property managers consolidate rent collection data and automate the reconciliation process, making it easier to manage and track payments across multiple properties.
RentPayment offers customizable reporting tools that help property managers gain insights into their rent collection process. Property managers can generate various reports, such as payment history, outstanding balances, and delinquencies, to stay informed and make data-driven decisions.
Security and Compliance
RentPayment prioritizes security and compliance in its payment processing services. The company adheres to industry standards, such as PCI compliance, and implements advanced security measures to protect sensitive data and reduce fraud risks during transactions.
Location & Ownership
The company operates at Yapstone’s headquarters of 3232 McKinney Ave, Suite 700, Dallas, TX 75204 and is a registered ISO/MSP of Wells Fargo Bank NA in Walnut Creek, California. RentPayment’s website claims it is headquartered out of Dallas, Texas, though, but it does not list an address. Matt Golis is listed as the CEO of RentPayment.
Table of Contents
- Costs & Contract: Appears to offer a month-to-month contract through YapStone that may…
- Complaints & Service: Complaints number more than 40 on…
- BBB Rating: Has an “A+” rating with the Better Business Bureau and has received…
- Sales & Marketing: Does not appear to hire independent sales representatives and has not…
RentPayment Customer Complaints & Reviews
Here's What Users Think
Total Online Complaints
Live Customer Support
Most Common Complaint
Moderate Complaint Total
As of this update, we are unable to locate any negative RentPayment reviews about RentPayment outside of their BBB profile that accuse the company of being a ripoff or a scam. Nearly all of the available negative RentPayment reviews have been posted by renters, who express confusion over the company’s policies and irritation with paying fees in order to use a credit card to pay their rent. These issues should not affect rental industry merchants beyond the possibility that their tenants might be dissatisfied with the service. The available RentPayment complaints from landlords primarily cite fund-holds, account activation delays, and unresponsive customer support as the main issues encountered. This is consistent with complaints filed against YapStone in general. If you have your own RentPayment review to make, please do so in the comments below.
YapStone Employee Complaints
Additionally, we have located numerous complaints by current and former YapStone employees who describe a taxing work schedule and low workplace morale. Like the renter complaints, these issues may only indirectly affect clients, as unhappy employees tend to provide subpar service.
RentPayment Lawsuits and Fines
In April 2019, a lawsuit was filed against Yapstone by Todd Feldman in regards to an alleged breach of contract. The case is ongoing and yet to reach a resolution.
In January of 2017, Yapstone settled a class-action lawsuit stemming from a data breach affecting the company. Personally identifiable information of its customers, including social security numbers, names, addresses, dates of birth, and passport numbers were exposed. The company settled the suit for $4.9 million.
In 2021, it appears that YapStone was sued by its partner, Priority Technology Holdings Inc., but at this time it is unclear what the suit concerns.
A further class-action suit was finalized against YapStone in 2022 by its former employees over missing payments.
Yapstone has also been fined repeatedly for privacy and consumer protection violations.
Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
RentPayment Customer Support Options
Overall, RentPayment has a moderate complaint rate and appears to provide average service to clients and tenants. The company now lists a dedicated phone number for customer service as well as a live-chat option and a ticket system, but business owners have specifically complained about slow responses via email.
RentPayment Customer Service Number
- (866) 289-5977 – Toll-Free Customer Support
Other Support Options
- Customer support form
This falls short of our standard for the top-rated merchant accounts for customer service.
RentPayment BBB Rating and Report
Our Better Business Bureau Profile Assessment
Note: We have adjusted this company’s BBB rating according to our own standards. To better understand why we adjust BBB ratings, please see our Rating Criteria.
More than 30 Complaints
RentPayment is not an accredited business with the Better Business Bureau. As of this review, the company holds an “A+” rating with the BBB and has had 35 complaints filed against it in the last 36 months.
What Merchants Say
RentPayment has also received 11 negative informal reviews to its BBB profile. The most recent review describes disagreements poor customer support:
If I could do a **** star I would. This company is ridiculous. Their agents are untrained. Their system archaic. Cannot resolve issues with them because you cant get in touch with anyone. Lodging a BBB complaint. Do NOT use them with VRBO.
A “C” Performance
Given the company’s decreasing complaint total and resolution ratio, we have adjusted the BBB’s rating to a “C.”
RentPayment Fees and Rates
A Closer Look at the Contract
Monthly & Annual Fees
Transaction Fees Paid by Either Tenant or Property Owner
RentPayment’s website advertises three different rates, depending on the method of the transaction. Credit cards are charged 2.95%, debit cards have a much lower rate of 0.95%, and eChecks/ACH debits are assessed a fee of $4.95. Payments can be made online, through phone, text, or the RentPayment’s mobile app. No additional RentPayment rates depending on how the payment is completed are apparent. The service also has an autopay feature as well as email and text reminders to help prevent late payments. While the payment structure is clear and transparent, what stands out is that the RentPayment fees are paid by either the property owner or tenant. The determination as to who is assessed these fees isn’t as clear. The signup portal hosted on the company’s website also refers to a deposit charged upon setup.
We always encourage businesses to check out our list of the providers of the best merchant accounts.
RentPayment Jobs and Employment
Hiring Standards and Ethical Marketing Assessment
Uses Independent Resellers
Discloses All Important Terms
Inside Sales Team
RentPayment appears to be marketed through a combination of telemarketing and inside sales agents. At this time, YapStone does not appear to employ independent sales agents to sell RentPayment. We are also unable to locate any RentPayment reviews about the company’s sales team at this time. This compares favorably to our list of best credit card processors.
No Misleading Quotes
RentPayment’s website does not appear to engage in any deceptive advertising tactics, but we have located some RentPayment complaints from customers expressing confusion about the RentPayment fee structure and how to schedule payments through the service, which occasionally led to overcharges. These customers appear to be renters rather than property managers, so it is unlikely that these difficulties will apply to clients. If you suspect that RentPayment is overcharging you, we recommend seeking a third-party statement audit to eliminate hidden fees.