RentPayment Review

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 complaints about the company’s sales team at this time. RentPayment’s website does not appear to engage in any deceptive advertising tactics, but we have located some complaints from customers expressing confusion about 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 merchants.

As of this update, the standard RentPayment contract terms are unclear. The service is likely reselling Chase Paymentech contracts, but this is unverified at this time. We are unable to locate any RentPayment complaints that specifically mention the company’s contract terms at this time, indicating that most of the company’s clients are satisfied with their rates and fees. Some complaints from tenants have stated that the company charges tenants a fee of $43 (Visa) or $29 (MasterCard) for each monthly rent payment made via credit card, which is designed to cover the cost of the credit card’s transaction fee. Obviously, this plan is financially beneficial to landlords, but they may risk losing tenants who have no interest in paying an additional $43 each month. If you have any knowledge of the standard RentPayment merchant agreement or per-transaction pricing, please leave that information in the comment section of this review.

As of this update, we are unable to locate any complaints about RentPayment or its provider, YapStone, in which property owners accuse either entity of being a ripoff or a scam. Most available RentPayment complaints have been posted by renters, who express confusion over the company’s policies or 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 complaints from landlords primarily cite unresponsive customer support as the main issue encountered, which is consistent with complaints filed against YapStone in general. 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 merchants, as unhappy employees tend to provide subpar service. Overall, though, RentPayment and YapStone have fairly low complaint rates and do not appear to provide poor service to merchants.

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.

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 29 complaints filed against it in the last 36 months. Of the complaints, 13 were filed regarding an advertising and sales issue, eight were in relation to problems with products or services, five stemmed from billing issues, two were related to delivery, and one was due to a guarantee or warranty issue. RentPayment successfully resolved nine complaints, but 17 complaints either were resolved to the merchant’s satisfaction or did not receive a final response from the merchant. RentPayment has not responded to its three most recently filed BBB complaints. Given the information available, we have adjusted the BBB’s rating to a “C.”