Real-Time Rent Payments

How Real-Time Rent Payments Work with RfP

Using Request for Payment (RfP) messaging, landlords can initiate a payment request that tenants approve instantly through their bank apps. Here's how the process works:

• The Payee (Landlord) sends a digital RfP to the Payer (Renter)
• The Renter authorizes the transaction—either a debits or credits
• Funds are transferred immediately through FedNow® or RTP®
• Payments can be variable, based on utility usage, late fees, or discounts

This structure offers transparency for tenants and speed for landlords, reducing uncertainty and friction in the rent cycle.

Protect Payer Privacy with Alias-Based Payments

One of the most important features of TodayPayments.com’s rent solution is alias-based payment authorization. Renters can:

• Use a cell phone number or email address as a secure alias or moniker
• Authorize payment requests without revealing full financial account details
• Maintain privacy while complying with the landlord’s rent collection system

Landlords benefit from faster payments while renters maintain complete control over their personal banking information.

FedNow® and RTP® Make Rent Payment Truly Real-Time

Unlike traditional systems, these real-time networks ensure:

• Instant funds availability for landlords
• 24/7/365 payment processing, including weekends and holidays
• Automatic confirmation and receipts sent in real time to both parties

No more late-night check deposits, NSF fees, or multi-day settlement delays. The moment rent is approved, it’s deposited and available.

Support for Variable Recurring Rent Amounts

Every lease agreement is unique. Whether you charge:

• A fixed monthly rate
• Variable rent based on utilities, amenities, or month-to-month terms
• Or need to issue occasional credits or refunds

Our system supports flexible recurring billing cycles to match your rental terms. You can send monthly RfPs with updated amounts—automatically or manually—with full control over every transaction.

Ideal for Property Managers, Landlords, and HOAs

TodayPayments.com supports every rent collection scenario, including:

• Individual landlords with one or multiple tenants
• Property managers overseeing large apartment complexes
• Homeowners associations (HOAs) collecting dues and assessments
• Co-living, commercial rentals, and vacation properties

Real-time rent payments can scale with your property portfolio, from single units to entire communities.

Hosted Payment Pages and ISO 20022 RfP Integration

To streamline payment collection and improve tenant engagement, we provide:

• Branded hosted payment pages that can be accessed via text, email, or app
• ISO 20022-compliant Request for Payment (RfP) messaging with structured payment requests
• Seamless tenant experience with one-click payment authorization and instant receipts

This makes the payment process professional, secure, and easy to manage from both ends.

Accounting and Reconciliation Made Easy

We help landlords and managers simplify their financial operations with:

• Real-time rent payment reconciliation
• Dashboard views of paid, pending, or declined RfPs
• Integration with QuickBooks® Online (QBO) for automated bookkeeping

Say goodbye to spreadsheets, manual data entry, and missed payment tracking.

Real-Time Rent Payments Today

If you're ready to modernize your rent collection and give your tenants a secure, real-time way to pay:
✅ Use FedNow® and RTP® for instant rent payments
✅ Send secure RfPs for variable debits or credits
✅ Collect payments 24/7 without handling sensitive financial data

Using TodayPayments.com for real-time rent payments via RTP and FedNow can provide significant benefits for landlords and lessors. Here’s how you can set this up and the advantages it offers:

Setting Up Real-Time Rent Payments with TodayPayments.com

Steps to Implement:

1. Choose TodayPayments.com:
   • Select TodayPayments.com as your payment processor for handling real-time rent payments.
   • Ensure it supports both RTP and FedNow for comprehensive real-time payment capabilities.
2. Integration with Accounting Systems:
   • Integrate TodayPayments.com with your accounting software, such as QuickBooks Online (QBO) or QuickBooks Enterprise.
   • Follow the provider’s instructions to ensure seamless synchronization of payment data.
3. Configure Payment Options:
   • Set up real-time rent payments through TodayPayments.com, allowing tenants to make instant payments via RTP or FedNow.
   • Enable options for one-time payments and recurring rent payments, providing flexibility for tenants.
4. Security Measures:
   • Implement robust security protocols to protect transaction data and ensure compliance with industry standards.
   • Use encrypted payment gateways and secure authentication methods.
5. Customer Communication:
   • Inform your tenants about the new real-time payment options, explaining the benefits and how they can make payments.
   • Provide guidance and support for tenants to set up and manage their payments.
6. Monitor and Optimize:
   • Regularly review the performance of your real-time payment system.
   • Make necessary adjustments to optimize efficiency and address any issues.

Benefits for Landlords and Lessors:

1. Immediate Access to Funds:
   • Rent payments are received and available instantly, improving cash flow and liquidity.
   • Reduces reliance on credit and short-term borrowing.
2. Enhanced Security:
   • Advanced encryption and authentication methods protect against fraud and unauthorized transactions.
   • Ensures the confidentiality and security of sensitive financial information.
3. Operational Efficiency:
   • Automation of payment processing and reconciliation reduces manual intervention and minimizes errors.
   • Streamlines accounting processes, saving time and resources.
4. Improved Cash Flow Management:
   • Real-time visibility into rent payments allows for better financial planning and management.
   • Facilitates accurate forecasting and budgeting.
5. Tenant Satisfaction:
   • Offering real-time payment options enhances tenant satisfaction and convenience.
   • Immediate payment confirmations provide assurance to tenants.
6. Reduced Costs:
   • Lower transaction fees compared to traditional payment methods.
   • Decreases administrative costs associated with processing delays and errors.

Example Use Cases:

1. Residential Properties:
   • Landlords of residential properties can offer tenants the convenience of real-time rent payments, improving tenant satisfaction and ensuring timely receipt of rent.
2. Commercial Properties:
   • Lessors of commercial properties can benefit from instant rent payments, enhancing cash flow management and reducing the risk of late payments.
3. Property Management Companies:
   • Property management companies can streamline their operations by automating rent collections and reconciliation, reducing administrative workload and improving efficiency.

Implementation Tips:

1. Promote the Service:
   • Actively promote the real-time payment option to tenants, highlighting the benefits of instant and secure payments.
   • Use various communication channels such as emails, newsletters, and tenant portals.
2. Provide Training and Support:
   • Offer training sessions and support for tenants to help them set up and manage their real-time payments.
   • Ensure your staff is knowledgeable about the system to assist tenants effectively.
3. Monitor Performance:
   • Regularly monitor the performance of the real-time payment system to ensure it meets your needs and addresses any issues promptly.
   • Gather feedback from tenants to identify areas for improvement.

By using TodayPayments.com for real-time rent payments via RTP and FedNow, landlords and lessors can significantly enhance their rent collection processes, improve cash flow management, and provide a superior experience for their tenants.