In this Article:
Viewing and Managing Your Payments
You can view your rent schedule at any time to see where your tenant is paid up to
Navigate to the 'My Properties' page. On your property card, you will see a list menu and under the Manage My Property section, click on Rental Payments.
The rental payment schedule is automatically populated based on the tenancy term you have set up.
You can see when the tenant has paid their rent - it will show the payment date, the amount paid and the payment status.
You can view each and download a receipt for each successful individual payment made by your tenant.
Payment Status'
Processing - The payment is currently in progress and is awaiting confirmation of the final result from the tenant's financial institution/card provider.
Failed - The payment has failed due to insufficient funds or incorrect bank details.
Retry - The payment is due to run again.
Paid - The payment was successful. You should see the funds in your account and the receipt will also be available on the platform.
Marking Payments as Paid
If your tenant has made a payment directly to you, you can mark each period received as paid. To do this, locate the payment period that you wish to mark off, and click on the 'Mark as Paid' button next to that period.
Important Note - If your rent payments are being run through the platform, marking a payment period as paid will stop the payment from running on the automated schedule.
Enter the receipt date for the payment and then click the 'Mark as Paid' button. Once confirmed it will show as paid on your schedule in green and you'll be able to view the receipt.
Partial Payments and Outstanding Balances
When rent is paid partially, simply enter the amount paid, mark it as paid, and the system will display the outstanding balance.
Once saved you will see the amount updated on your schedule with the outstanding due in red as seen below:
Viewing the Transaction History
You can click on any line in the payment schedule and it will bring up the history of the transaction on the right-hand side panel. It will include details of when the payment was run and successful, and if a payment has failed it will include the details of any failed attempts.
Making Changes to Your Rent Schedule
You can make changes to your rent schedule such as adjusting the frequency of payments, updating the rental amount or ending a lease and payment schedule.
To make changes to your lease, click on 'Lease set up' and then the 'Actions' button on the top right:
On the next screen, you can select from a list of actions available for your lease.
Ending a Payment Schedule
Payments on RentBetter are set to continue on an ongoing basis unless the lease is terminated in the platform. If you need to end the lease and payments, you can take the steps below:
Visit 'Lease Set up', then click on the 'Actions' button on the top right.
Select the 'End Tenancy' option from the list.
On this page, you can choose the end date and select a reason for the notice.
Click through to view and sign the notice at the bottom of the page and send it to your tenants.
Adjusting the Rent Amount or Payment Frequency
You may like to edit the payment frequency and/or the rental amount for your tenants. If you need to adjust your schedule, you can take the steps below:
Visit 'Lease set up', and then click the 'Actions' button on the top right.
Select the option in the list to 'Adjust rent' and then enter the details of the rent adjustment then sign and send it to your tenants.
They will be able to review the details in their account and accept them and once accepted, the schedule will be updated on the platform.
Updating the Payment Processing Date
To ensure payments arrive on the due date, the system will run payments slightly early to enable the funds to settle in your account first thing in the morning on the due date.
We send out email and SMS notifications to your tenants ahead of the payment to let them know about the timing and if required, they can contact us to adjust the processing time.
If you need to adjust the processing date of your payments, reach out to the team at info@rentbetter.com.au or via the support chat and we can assist further.
Need further assistance?
Have more questions on rental payments? Reach out to our friendly team via the support chat or email info@rentbetter.com.au and we’ll be happy to help.