Renterlyst Payment Policy
This Payment Policy outlines the terms and conditions related to all financial transactions on the Renterlyst platform. By using Renterlyst, all users agree to comply with the payment procedures and responsibilities described in this policy.
1. Rent Payment Services
Renterlyst provides Rent Payment Services that enable landlords, real estate professionals, and property managers (together, “Landlords”) to accept payments of rent, pet fees, parking, cleaning, move-in fees, lease termination fees, late fees, proration, and other related charges from tenants (“Tenants”) via ACH, credit card, or other methods (each, a “Payment Method”).
To use these services, Landlords must enter into an agreement with a Third-Party Service Provider (defined below) to facilitate acceptance and settlement of funds. Both Tenants and Landlords must create an account with Renterlyst (“Account”) and set appropriate payment amounts due. Landlords warrant that all payment amounts are accurate and in accordance with applicable lease agreements. Landlords are solely responsible for billing errors or inaccuracies.
If a real estate professional facilitates collection of fees or deposits, they warrant that they are authorized and legally permitted to do so.
Renterlyst does not directly receive, hold, or transmit funds. Landlords appoint Renterlyst to obtain any necessary authorizations from Tenants for payment processing. Payments are authorized and settled per the Landlord's agreement with the Third-Party Service Provider. Renterlyst is not responsible for failed payments.
Responsibilities of Tenant-Buyers and Landlords
Tenant-Buyers:
Are responsible for making timely payments, including rent, application fees, screening fees, and any other charges outlined in their agreement.
Must ensure sufficient funds are available on the due date.
Are expected to promptly notify Rentaly and the landlord of any issues or disputes related to payments.
Landlords:
Must provide accurate and complete banking information to receive funds.
Are responsible for ensuring the rental terms, including amounts due and due dates, are clearly communicated and documented.
Must manage/resolve any refund requests or rent disputes in accordance with applicable laws and Renterlyst's guidelines.
2. Registration
To access Rent Payment Services, users must register an Account with Renterlyst. By doing so, users agree to:
provide true, current, and complete information (“Registration Data”),
promptly update this information,
confirm that they are at least 18 years of age, authorized to enter into agreements, and legally eligible to use Renterlyst’s services.
Users are responsible for all activity under their Account and must prevent unauthorized access. If Renterlyst suspects inaccurate or false information, it may suspend or terminate the Account. Users may not register using a false identity or for another individual.
As part of registration, Renterlyst and its Third-Party Service Providers may require photo ID and other personal information for verification.
3. Accepted Payment Methods, Timing, Recurring Payments, and Fees
Renterlyst currently accepts the following payment methods:
ACH bank transfers (preferred)
Credit and debit cards (Visa, Mastercard, American Express)
Digital wallets (where available)
Other methods as made available by our payment partners
Please note that additional processing fees may apply for certain payment types, particularly credit or debit card transactions.
Timing and Frequency of Payments
Rent Payments: Typically collected on a monthly basis, with due dates outlined in the Rent to Own lease agreement. Automated reminders may be sent prior to each due date.
Application & Screening Fees: Due at the time of application submission. These are non-refundable unless otherwise specified.
Service Fee (Finder’s Fee): A flat fee of $500 may be charged upon approval of the rental agreement and collected from the first month’s rent. May be deferred to an agent if applicable.
Success Fee: A service fee of 0.5%–1.5% of the final sale price is charged upon successful closing of the rent-to-own transaction, depending on various factors.
Recurring Payments
If Tenants enable recurring payments, they authorize Renterlyst to charge their Payment Method monthly for the stated rent and fees. This authorization continues until canceled by the Tenant or Landlord.
If a Tenant pays a fee through Renterlyst, they authorize Renterlyst to charge the Payment Method for the full amount and any applicable fees.
Landlords are solely responsible for complying with rent payment laws.
4. Disbursements and Refunds
Regular Disbursements:
Renterlyst disburses collected rent and other applicable payments to landlords within 3–5 business days after successful payment processing. This timeframe may vary depending on the payment method, bank holidays, or additional identity verification checks. In cases where a payment is disputed or returned (e.g., failed ACH), disbursement may be delayed until the issue is resolved.
Disbursements to Landlords are processed by the Third-Party Service Provider based on the payment schedule agreed upon in the Landlord’s account. Renterlyst is not responsible for delays or errors in disbursement initiated by the Third-Party Service Provider.
Refunds must be initiated by the Landlord directly through their Account or in coordination with the Third-Party Service Provider. Renterlyst does not hold or disburse funds and is not liable for disputes over refunds between Tenants and Landlords.
Disbursement Upon Closing:
In the event of a successful property sale under a rent-to-own agreement, Renterlyst will disburse the following amounts as part of the closing process:
The Option Fee (if not already disbursed),
Any accumulated Renterlyst Bonus, and
Any applicable Renterlyst Reserved Rent Credits.
These funds will be disbursed to the appropriate party (e.g., the seller, buyer, or designated escrow account) as agreed in the terms of the rent-to-own agreement and applicable escrow instructions.
To initiate disbursement, both parties must approve and petition for the release of funds in writing. This notice can be triggered within the Renterlyst Platform upon successful completion of Mortgage Approval Phase. Rentaly requires at least 14 days’ advance notice to process and complete disbursements related to a closing. The timing of the release may depend on confirmation of sale, final documentation, and any regulatory or financial review required by Renterlyst or our financial partners.
5. No Responsibility for Non-Payment and Associated Fees
Renterlyst enables payments processed by Third-Party Service Providers. Renterlyst is not a party to these transactions and does not guarantee payment.
If a payment fails or is rejected, it is the Tenant’s responsibility to make alternate payment arrangements. Tenants are responsible for any fees due to rejected or failed payments, including chargebacks, insufficient funds, and administrative fees. These may be charged directly by Renterlyst or on behalf of the Landlord.
Landlords reserve the right to seek payment outside of the Renterlyst platform if payment is not received. Renterlyst does not assume liability for failed payments or related disputes.
Renterlyst IS NOT A COLLECTION COMPANY AND DOES NOT GUARANTEE PAYMENT OF RENT OR OTHER FEES.
6. Reversals of Payment
Renterlyst may investigate any transaction suspected of fraud. It may reverse payments or take other actions it deems necessary.
If a reversal, chargeback, or dispute occurs, Landlords authorize Renterlyst and the Third-Party Service Provider to debit the funds from the Landlord’s bank account. If unable, Landlords must promptly deposit the funds as requested.
7. Fees
Users agree to pay all applicable fees for Rent Payment Services in accordance with the current pricing terms. By providing payment information, users authorize Renterlyst to charge fees as they become due.
You must keep billing and Payment Method details accurate and current. Renterlyst may change its pricing or billing terms with notice. Fees do not constitute a sale or license of Renterlyst software.
8. Payment Processing and Payment Data
Renterlyst partners with secure third-party payment processors to facilitate rent payments, application fees, and other associated charges. All transactions are encrypted and processed in compliance with industry-standard security protocols. Renterlyst does not store full payment card or banking details directly on its servers.
Renterlyst uses Stripe, Inc. as its Third-Party Service Provider for payment services (ACH, credit card, settlement, etc.). By using these services, users agree to Stripe’s Privacy Policy, Services Agreement, and any applicable terms.
Tenants authorize Renterlyst to share their payment information with Landlords and Third-Party Service Providers to facilitate services.
Tenants and Landlords represent and warrant that all payment and financial information provided is true, accurate, current, and complete.
Renterlyst may also use Plaid Inc. to collect data from financial institutions. By using the platform, users authorize Plaid to access and process their financial data per the Plaid Privacy Policy.
Renterlyst reserves the right to change its Third-Party Service Providers. Users will be notified and may terminate their use of Rent Payment Services if they do not agree with the new provider’s terms.
9. Disclaimers and User Interactions
Renterlyst is not liable for interactions between users. While Renterlyst may offer support, it is not obligated to mediate disputes between Landlords and Tenants.
10. Additional Terms
For all other legal terms including Data Use, Proprietary Rights, Confidentiality, Indemnification, Jurisdiction, and more, refer to Renterlyst’s Terms of Service.