Several types of Payment services are provided in the Ideal Landlord software. The subscriber has automated payments for subscription fees and pay per use charges in the settings when signing up for a subscription. No payment information is collected for free trials.
Start a Subscription
To start a subscription, log into settings in the upper right corner of the dashboard page (or any page) and add your information for the payment processor and then add your choice of accounts. ( Be sure to fill out all fields for the processor as they will not recognize your payments otherwise.) You can add a checking account or a credit card to make the payments. You can also designate which account to use for most payments but can change it if needed. Once you have signed up you will have access to the pay per use items that are not included in the free trial. See Plans and Pricing.
You will need to get a merchant account as soon as you sign up for a subscription. It takes about one day to get your account approved and loaded onto the software so that you can make and receive payments through your merchant portal. Please go to Merchant Accounts under Income and Expense to fill out the necessary information. If you have questions, please contact customer service at 855 796 7771 X 2.
Ideal Landlord charges a base subscription fee depending on the number of units you manage. You can see what is included in that base fee on Plans and Pricing (https://ideallandlord.com/plans-pricing/). There are also pay per use items which are not used as regularly that are charged only when they are used. On the first of the month, payments will be auto pulled from the account(s) you choose to use when setting up your subscription. All fees and pay per use items are charged and collected in US Dollars.
As you create your lease(s) your tenants will be invited to log into the tenant portal where they will fill in their billing details for paying rent and charges made to their rental account. They can see a running account balance, their statements and other data related to their tenancy as your tenant. It makes you look very professional especially if you have uploaded a main photo of their property. Their rent payments will automatically be accounted for in your ledger and throughout the software as they are made. It takes 24 hours for a credit card rent payment to hit your account and 3 business days for ACH rent check payments to be deposited into your account. It is a huge time saver for you even if you only have one property.
You will also be able to make payments from your ledger out to vendors and return security deposits to tenants with one entry in the ledger. These payments will be pulled directly from the account you designate to manage each type of payment.
SUBSCRIBER PAYMENT AUTHORIZATION
This form authorizes Real Business Management LLC. (Dba) IdealLandlord.com payment partners to debit your bank account or credit card for any and all fees, recurring or otherwise, relating to your account.
If you have selected to pay via bank account withdrawal:
I authorize Ideal Landlord to debit my bank account as indicated below an amount that I authorize via my Ideal Landlord account, under the terms and conditions agreed to by me with Ideal Landlord until such time as I revoke this authorization online via my Ideal Landlord account. I understand that I can see payments made and completed in Billing History under payments in settings for my account.
If you have selected to pay via Credit Card:
I authorize Ideal Landlord to debit my Credit Card as indicated below an amount that I authorize via my Ideal Landlord account, under the terms and conditions agreed to by me with Ideal Landlord, until such time as I revoke this authorization online via my Ideal Landlord account. Please note that there is a convenience fee of 2.8% added to the payment when credit cards are use. That fee is used to pay the credit card company fees.
PAYMENT AUTHORIZATION AGREEMENT
I acknowledge that delivery of my authorization to Ideal Landlord constitutes delivery by me to the branch of the financial institution at which I maintain an account and that such financial institution is not required to verify that the payment(s) are drawn in accordance with this authorization. I will be able to see the payment information in my billing details in settings. Termination of this authorization will terminate the contract for goods and services exchanged.
I acknowledge that delivery of my authorization to Ideal Landlord constitutes delivery by me to the Credit Card on file in my account and verify that I own and am authorized to use this Credit Card to pay my charges from Ideal Landlord. This authorization verifies that the Credit Card Company or financial institution which authorizes this Credit Card is not required to verify that the payment(s) are drawn in accordance with this authorization. Termination of this authorization will result in termination of the contract for goods and services exchanged. I will update my credit card before it expires.
I will immediately notify/make necessary changes or reenter account information through my settings tab in my Ideal Landlord account if any changes in the account information occur.
I agree to pay a fee of $35.00 for each transaction that is refused by the financial institution I have designated for insufficient funds (NSF).
Note: Ideal Landlord is a Dba of Real Business Management, LLC and is powered by smartpropertysystems.com, a well known property management software. Billing of your account may appear under the “Smart Property Systems” name in your bank statement.
I hereby represent and warrant that I have an account at the financial institution listed above to pay all such withdrawals. Electronic debit entries shall be initiated by Ideal Landlord and or their payment partners to pay monthly subscription fees and pay per use items incurred during the month. . These charges can be viewed in the settings tab under Billing History at any time. Payments shown in the Payments tab of that page shall constitute my receipt for transaction(s). No payment to Ideal Landlord shall be deemed to have been made unless and until Ideal Landlord receives actual credit. I also understand that if corrections of the entry are necessary, it may involve an adjustment to my account. Ideal Landlord reserves the right to refuse or terminate electronic payment services.
I represent and warrant that I have the full right and power to authorize the electronic withdrawal of this account. I will pay the attorney’s fees and costs incurred by Ideal Landlord to collect the amounts not paid when due, or to defend an action where I have agreed to hold Ideal Landlord harmless, whether or not litigation is commenced, and if litigation, mediation, arbitration or trial is commenced, attorney fees and costs incurred by Ideal Landlord therein, and on any appeal there from.