Paying from Rent
Owners using the Managed App have flexibility when it comes to paying property-related expenses. They can add a payment method like a Credit Card or Bank Account, or they can choose to Pay via Rent.
You can see what payment method a client has set in their profile at any point or on the payment summary screen.
If Paying via rent is selected, the app will automatically hold back the required funds to pay for upcoming expenses from rent as it's processed by the platform.
Remember: A property manager can no longer change the wallet balance when Pay via rent is selected as the app will change it automatically.
Once sufficient funds are held, the payment can be made and the Smart Wallet will revert back to whatever upcoming payment amounts (if any) are required.
The app automatically pays bills on their due date however if an owner is set to Pay via Rent and there are no funds on the due date, the app will send an alert advising that the bill will become overdue before there are sufficient funds and suggest a credit card is used.