Rentalutions as an eRentPayment Alternative
Earlier this week, eRentPayment’s third-party payment processor filed for bankruptcy. Many landlords and tenants relied on the platform to process millions of dollars of rent each month. But we have great news- there’s a better alternative for landlords and tenants looking to process payments.
A More Secure Payment Structure
The biggest difference between us and eRentPayment is our security. Unlike eRentPayment, we do not have a third party vendor (eCheckit) for our payments.
Instead, we built our own payment processing from the ground up. We integrated with the largest bank in Chicago- MB Financial, a bank with $20 billion in assets.
This means when you schedule a payment with Rentalutions, we automatically submit payment instructions directly to MB Financial. Your payment is more securely delivered because there is no intermediary.
Beyond how our payments are structured, we also have further security measures:
- All personally identifiable information and payment account information is automatically encrypted before it hits our servers using 256-bit encryption.
- Our servers are automatically monitored 24/7 every day of the year to detect vulnerabilities and block suspicious traffic.
Our security setup has been rigorously tested by several of our major partners including TransUnion and State Farm. Every time they’ve tested our system, we have passed on the first try.
For payments, we know landlords and tenants value security, transparent communication, and having an easy-to-use platform, which is why we’ve built our feature set to reflect these values:
- Tenants can set up automatic payments.
- Landlords can add multiple bank accounts and select where payments will be deposited.
- Rent reminders and payment receipts are automatically emailed to you.
- Landlords and tenants can easily keep track of payment history.
- Easily create or send a one-time payment, such as a security deposit or pet fee.
In the near future, we’ll be reporting tenants’ rent payments to the top credit bureaus. This is an exciting way for renters to build credit. And for landlords, this helps ensure your tenants will pay rent on time on our platform.
Beyond Rent Payments
Rentalutions has more to offer beyond rent payments. You can:
- Find tenants with online rental listings
- Screen tenants with credit, background, and eviction checks
- Draft and sign state-specific digital leases
- Manage maintenance
With Rentalutions, you have access to our premium online rent payments. Our platform protects your information and securely processes your rent so you never have to worry. We also continue to fulfill our mission to deliver excellent customer support. If you have any questions, please reach out at support@rentalutions or (312) 508-3786.
Learn more about how we compare to eRentPayment here.
Also published on Medium.