A YapStone Subsidiary
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.
RentPayment Location and Ownership
The company operates at Yapstone’s headquarters of 2121 N California Blvd. Suite 400, Walnut Creek, California 94596 and is a registered ISO/MSP of Wells Fargo Bank NA in Walnut Creek, California. Matt Golis is listed as the CEO of RentPayment. In September of 2020 RentPayment was acquired by MRI Software, a real estate software development company. It appears Yapstone will still power RentPayments payment processing.
RentPayment Review Table of Contents
- Costs & Contract: RentPayment appears to offer a month-to-month contract through YapStone that may or may not include an early termination fee.
- Complaints & Service: RentPayment has received more than 40 public complaints.
- BBB Rating: RentPayment (as Vacation Rent Payment) has an “A+” rating with the Better Business Bureau and has received 30 complaints and 5 reviews in the past 3 years.
- Sales & Marketing: RentPayment does not appear to hire independent sales representatives and has not received any complaints about its sales practices.
15 Responses
Horrible customer service for the merchants out there. My most recent complaint is that they only deposited funds from part of our transactions that ran on 12/31/20 and since then nothing. They have approved over 8K but I have no access to it and can not get any of their reps to speak to me about this issue. When I call my only recourse is to file a ticket via email or the website- to which they do not reply. I have had replies from this company over 6 months later when they just close the ticket without even a follow-up. I have several customer cards that pull back because of “late presentation” and then RentPayment hits me with a chargeback fee. This company is going downhill fast since their website update in 2020.
so……My landlord has us using RentPayment to pay our rent payments. I made our October payment on September 9th because I had the money. On September 10th or 11th RentPayment did a payment reversal on my account. So I called to see what had happened. After 1hr & 8 min on hold I was told they did not know what was going on. they assured me they would submit a “ticket” and get back to me. In the meantime, I called my bank who stated they had not initiated the rent payment reversal, in fact they had already released the funds to rentpayment. after 1 week with no communication from them i called again. After 1 hr & 12 min on hold they again had no knowledge of what was going on. told i should give it another week. third week 3rd phone call after 30 min hold wait i decided to take the option of receiving a call back when my position in the queue came up. After roughly 2 hours my phone did a half ring then it stopped. Caller ID showed it was RentPayment. had to call again and wait on hold to be told they were still looking into it. Week 4 call to inquire again (mind you I have NEVER received any call backs or emails from them as to the status of my account) I proceed to stay on hold for well over an hour. this time I’m told that I have not received a refund because they have not received my bank statement showing I never received the money back into my account (they NEVER once requested bank statements). I was assured once they received the bank statements i would receive a refund within 7 days. Well 7 days comes and no refund…. call again….this time i am on hold for 2hrs & 4 min only to have someone pick up the phone and immediately hang it up. I was needlessly fuming at this point. called the next day. after a lengthy hold i was told there was no refund issued on the account. he was going to submit a request to have the refund issued. another week….. no refund. Now I’m pissed. asked to speak to a manager, i could not for no given reason. asked to speak to the person in charge of my ticket….I could not because they do not have phone access. WAIT….WHAT??? you are customer service and you have no Phone.
My landlord was finally able to have them credit my account for the rent payment (something I asked them to do week 2 and they could not for unknown reasons. ABSOLUTELY TERRIBLE CUSTOMER SERVICE
Worst customer service and a complicated portal to use. I will not recommend this company to any Landlord
They have kept my tenant’s rent paid for one month. tossing me back and forth. They have made me changed my bank account several times and they are still giving me stupid excuses just to keep my money.
Horrible.
They deposited a rent payment into my account and took it back a week later after my mortgage and HOA has been withdrawn. After speaking with my tenant, he said the payment never even left his account, error on his part. Why would they deposit a payment they never received into my checking account? It should never have been deposited in the first place.
Hard to believe free services such as Venmo and Cash are more reliable then one I am charged for.
Rent is $2565 per month. First time using this service and had no idea they charged me a $75 service fee. That is INSANE! What a scam!
Pay rent on time for almost 2 years by this service. I’m a homebound disable vet..payments were showing up until this month. The removed my account causing my credit score to go down by 50 pts. And now I can’t even log on
I have used our online rent payment system for two years and I guess we switched to this company and now instead of a $4.95 fee I was charged before or free if you use your checking account, this company charges $20 for a Visa (which is all I have) and doesn’t have the option for charging your checking account. I am livid, this is the worst and they are basically extorting money from renter’s because of this. I am going to complain to the manager and the state housing authority.
I won’t recommend to use this payment service website due to the expensive fee they charge for every transaction. They have a service fee of $23.30 for every transaction and also if you pay by phone $9.93. It is unbelievably how this company is able to charge double fee for using their service. The only reason for using they service is because it is a requirement from our apt complex where we live. Please, be aware of this and call them before you decide to use them Their number is 8662895977.
While most companies process payment transactions twice in case of a problem, Rentpayment does not. Instead if the payment is not honored the first time, they charge a $45 fee even if the institution charges no fees.
Their explanation statements make little sense, such as “funds on hold”.
Emails to customer service takes 1-2 business days, the phone agents know basically nothing and someone removes transaction history from their website when apparently things don’t go their way. They never admit fault and are unwilling to resolve disputes.
They are rated BBB by the Better Business Bureau and “B” (4.3 out of 5.0)
They are private company and thus no financial information is available.
Scam – received an email from them in an email account i haven’t used in over three years. The email asked me to update my credit card info for a beach house rental. I called the rental company because my credit card wouldn’t be expiring for several years and funny, the rental company never heard of them! so, obviously these folks hacked my rental company’s third-party credit card provider.
I make my payments on 2nd of the month as my rental agreement due date is 5th of every month. But as per rental payment history website they consider mine as late payments and it have negative effect on my history. Finally when I called trans union they took out the account from my reports. The only reason for my payments through here is to make my score better. Now this have left negative mark. When I call rentpayment care they differ me to transunion again; where they say the account is already closed.
I made a rent payment via telephone for a friend. I used my credit card to pay off a balance owed, It was less than $50. The operator said there was an additional charge of $11 for paying with a credit card. That is a substantial charge for the service. If people pay their rent via this method, I can imagine the revenue stream associated with this predatory practice. My friend is a low income worker and the impact on him would be great if he paid with a credit card. It would seem that the outfit is predatory in this regard and that a review of their business practices by the State is in order.
worst customer service. we almost got evicted because they failed to make the payment in time. we paid our rent on the 26th of the month and it was still in “processing” on the 1st. when i called in on the 1st they said it was something with their system and that they would cancel that original payment and reprocess a new one. they assured me they would call my property and sort it all out. on the 6th we received a final warning on paying rent or the property would take further action. when i called rent payment again the guy on the phone had no idea what was going on and put us on hold. i had already spent an hour and a half on the phone when i called in on the 1st. i hope you do not have the same experience we had we will not use them ever again. this is a horrible company with a horrible business model and ever more horrible people representing the company.
Extremely poor. Website lacks basic functionality as setting a date for payment or changing information on your financial. There is no phone # or online chat option to contact them for emergencies. I found their phone# from my landlord and their customer service is the lowest I encountered in many years.
I consider changing my residence just not to deal with them.
Their auto pay system doesn’t adjust for varying amounts on a per month basis making their auto pay system next to worthless if you need/want to pay the correct required amount.
Also, I’m pretty sure their $42 card transaction fee (debit and credit) is against California law.