RentRedi has augmented its services for landlords and tenants by offering 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.
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, said RentRedi’s team
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.
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