In the 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

Choose the bank account you would like your rent deposited into. This will only update this property as if you have more than one property, you might have different accounts for each.

When the tenant pays rent, it will be instantly (approx 5 seconds) deposited into this account less any money needed for fees or upcoming bills.

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 your agency 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, not 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.

REMEMBER: These changes will not affect other properties in your portfolio. You will need to repeat the above process to customise any other Property Profiles.

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