In Managed App, you can customise your accounts for each property so your payments always go to the right place. You can also add a payment method if you like to use your Credit Card or Bank Account to pay for things. 

Step 1

In the property profile, click the Settings tab.

Step 2

This is where you set the bank account you would like your rental income paid into for this property. If you did this already, you will see the account you entered previously. If you need to change or update it, click Change payment method

Step 3

The default payment method is to pay all bills from your rental income - which is what you're probably used to. This means the app will withhold just enough money from your rental income to pay any upcoming expenses and you will receive the balance.

If you are the type of investor that would prefer to receive more rent upfront, you can pay expenses on your credit card (1.6%+10c surcharge) or directly from a bank account (90c direct debit fee). Simply click Change payment method? to change your preferences.

If you have a payment method set, no rental income will be withheld and any expenses (council, strata, maintenance, etc) will be charged to your payment method. Any expenses paid via credit card or bank account still appear on all your statements and reports.

Step 4

When the tenant pays rent, it will be instantly (approx 5 seconds) deposited into your bank account. If you would prefer to receive your income at the end of the week, or at the end of the month instead, you can change your payout preferences by clicking your profile and changing your Payout Withdrawal Frequency.

This will keep app income in your profile and you will see your balance start to grow until it reaches the end of the week/month, at which point it will be sent to your property's bank account.

Did this answer your question?