RentPayment Review

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 debit are assessed a fee of $4.95. Payments can be made online, through phone, text, or the RentPayment’s mobile app. No additional 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 prevent against late payments. While the payment structure is clear and transparent, what stands out is that the fees are paid by either the property owner or tenant. The determination as to who is assessed these fees isn’t as clear. The sign up portal hosted on the company’s website also refers to a deposit charged upon set up.

Other costs like early termination fees and PCI compliance fees are not listed on the company’s website.

Moderate Complaint Total

As of this update, we are unable to locate any merchant complaints about RentPayment that accuse the company of being a ripoff or a scam. Nearly all of the available RentPayment complaints 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 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.

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 merchants, as unhappy employees tend to provide subpar service.

RentPayment Lawsuits

We have not found any outstanding class-action lawsuits or FTC complaints filed against RenPayment. Dissatisfied merchants 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 merchants and tenants. The company does not list a dedicated phone number for customer service, and merchants have specifically complained about slow responses via email. This falls well short of our standard for the top-rated merchant accounts for customer service.

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.

Over 80 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 86 complaints filed against it in the last 36 months. Of the complaints, two were filed regarding an advertising and sales issue, 37 were in relation to problems with products or services, 47 stemmed from billing issues, and two were related to delivery. RentPayment successfully resolved 29 complaints, while 57 complaints either were resolved to the merchant’s satisfaction or did not receive a final response from the merchant.

What Merchants Say

RentPayment has also received 26 negative informal reviews to its BBB profile. The most recent review describes inaccessible customer service:

Forced into dealing with this company through Homeaway. I had linked my bank account and thought I was good to go. Now that I’ve accepted my first online booking & payment through them they are asking for a whole bunch of extra documents. Why would they let me accept a payment if I wasn’t finished setting everything up? Small print at the bottom of the email says that if documents aren’t provided within 30 days they will keep the money. Such a scam making it impossible to comply and then threatening to keep the money. Phone number at the bottom of the email forces you to download and use some app to talk to them. No direct phone number!

Excellent customer service is crucial to provide merchants with to address issues that inevitably arise, making it an important consideration before executing a contract.
A “D” Performance
Given the company’s rapidly increasing complaint total and poor resolution ratio, we have adjusted the BBB’s rating to a “D.”

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 complaints about the company’s sales team at this time.

No Misleading Quotes

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. If you suspect that RentPayment is overcharging you, we recommend seeking a third-party statement audit to eliminate hidden fees.