Rentroom set up instructions:
We use Rentroom to accept online rental payments and deposits. Please download the application here for iPhone and here for Android. watch for our invite. Once you receive it please follow the instructions below to get set up.
General introduction to Rentroom:
Rentroom is a cloud based rent management system which connects to our bookkeeping software. When paying through RR you'll see your balance, any additional billing, and, eventually, a history of payments. If you ever notice discrepancies between what you're seeing in your RR balance vs what you think you should pay, please email Sally@msbholdings.com
Getting set up - note: if more than one person will be paying rent for an apartment we will need to know how you’d like that split. Don’t forget pet fees, extra parking, etc.
***It’s important to understand that before Rentroom can receive money from your bank account, they must know that you’re authorized to set this up and then provide proof to your bank that they’re authorized do so. To do this, many banks use a verification system called PLAID which connects them instantly if you have your personal bank login information. Some banks such as UW Credit Union and a few others, don’t use PLAID but you can still link your bank with micro deposits. It’s a two step process in which Rentroom makes two small deposits into your account and then asks you to submit the amounts back to them. This lets Rentroom know that you are authorized to use the account because you’re able to see their deposit amounts. Once this is done, they’re authorized to receive money from your bank. Here are specific Rentroom instructions for that.
Common Questions:
Can I use the Rentroom on a computer or only the app? The system is designed to be used primarily with an app on your smartphone but you can still use their website to make payments. If you're using the system on a phone, ideally you should use their app instead of using a phone browser.
How do I get set up?
Rentroom uses a phone number to identify and invite you to download the app and get set up. You'll also need to connect your bank.
How do I link my bank
Micro deposits or PLAID - see above.
What if my bank doesn't use PLAID - (UW Credit Union is one example) - see above
How does it work if there are multiple people paying for one apartment?
We will need to know how you'd like the monthly rent allocated between tenants. Once we have that information we'll set up each tenant with those amounts. We'll need a phone number for each person who would like to pay. To set this up please email: Bookeeping@msbholdings.com
Can I set up autopayments?
Yes.
What do I do if I think my balance/amount owed is off?
Please email: Bookeeping@msbholdings.com
Can I pay early?
The system enters the rent invoice on the 25th prior to the 1st that the rent is due. Before that you'll see a zero balance. If you'd like to pay earlier than the 25th, or make a lump sum payment, contact us and we set it up for you.
What if my rent is due on the 15th?
RR treats all rents as if they are “due” on the 1st of the month. There aren’t any automatic late fees calculated if rent is not paid on or near the 1st. So continue to pay your rent on or around the 15th as agreed to in your lease. If you pay after the end of the month, RR will then consider the payment late and add it to next month’s rent.
Can I pay my water bill with the new system?
Yes, as water invoices are generated you'll see that balance reflected in your total amount owed and can be paid with the same system.
Can I still pay with check or money order?
Yes we'll still accept those forms of payment.