RentRedi Offers 2-day Funding and Same-day Settlements for Rent Payments

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Aug 20, 2024, 06:45 ET

New Stripe integrations provide more convenience and benefits to RentRedi landlords and tenants through accelerated payment processing and more payment options

NEW YORK, Aug. 20, 2024 /PRNewswire/ -- RentRedi, an award-winning property management software that simplifies the renting process for both landlords and tenants, has added more convenience and benefits to its rent collection and payment features through integrations with Stripe Connect and Stripe Checkout. The new upgrades accelerate the time it takes for landlords to receive their rent payments by providing faster payment processing and more convenient payment options for tenants.

Leveraging Stripe Connect's infrastructure for faster payment processing, RentRedi has upgraded its mobile and online rent collection features to provide more control over underwriting and onboarding processes, resulting in a quicker turnaround on funding rent payments. This reduces the amount of time it takes for landlords to see rent payments appear in their bank accounts to two business days.

"Landlords need an efficient and secure way to process the payments they collect from their tenants," said RentRedi Co-founder and CEO Ryan Barone. "We are continuing our customer-driven approach to product development by leveraging Stripe integrations to provide the fastest payment processing solution in the industry that gets money to our landlords faster without charging an extra fee for express funding."

RentRedi's accelerated funding also includes same-day settlements for ACH payments, which completes the payment transaction, making the funds accessible to landlords. This also benefits tenants who use ACH to pay rent, because the funds leave their accounts faster, providing them with more accurate, updated balances that reduce the likelihood of overdrafting on their accounts and incurring associated fees and penalties.

The Stripe Connect integration also allows landlords to accept payments from multiple sources, including cash through Chime payments, ACH, or credit card, making it more convenient to tenants as well. "Landlords who provide convenient and flexible payment options to their tenants are more likely to receive on-time rent payments on a more consistent basis, which translates to a more stable cash flow for landlords," added Barone. "It's a win-win that benefits both landlords and tenants."

An additional integration with Stripe Checkout enables RentRedi landlords to use a variety of different payment options — including Apple Pay, Google Pay, and all types of credit cards — when initiating and paying for RentRedi subscriptions. The new integrations with Stripe Connect and Stripe Checkout provide RentRedi customers with an enhanced dashboard and user experience.

ABOUT RENTREDI

RentRedi offers an award-winning, comprehensive property management platform that simplifies the renting process for landlords and renters by automating and streamlining processes. For landlords, RentRedi provides all-in-one web and mobile apps to collect rent, list and market vacancies, find and screen tenants, sign leases, and manage maintenance and accounting. For tenants, RentRedi's easy-to-use mobile app allows them to pay rent, set up auto-pay, build credit by reporting rent payments to major credit agencies, prequalify and sign leases, and submit maintenance requests.

Founded in 2016, RentRedi is VC-backed and a proven leader in the PropTech market. The company ranks No. 180 on the 2024 Inc. 5000 list and No. 12 on the Inc. 5000 Regionals list and was named an Inc. Power Partner, a GetApp Category Leader, a Capterra Established Player, and a G2 High Performer and Momentum Leader based on the software's user ratings and popularity. To date, RentRedi has more than $35 billion in assets under management with nearly 200,000 landlords and tenants using the platform. The company partners with technology leaders such as Zillow, TransUnion, Experian, Equifax, Realtor.com, Plaid, and Stripe to create the best customer experience possible. For more information visit RentRedi.com.

SOURCE RentRedi