If I enroll in online rent collection, will the ledger update automatically?

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Q: If I enroll in online rent collection, will the ledger update automatically?

  Financials

Yes! Online rent collection is a feature only available to our Premium and Professional subscribers. With online rent collection enabled, your tenants have the convenience of paying rent through the tenant portal electronically. After you setup a lease within VerticalRent, our system invoices the tenant via the tenant portal autoatically each month for the rent amount due. For example, if you set the rent on Unit A to $1,000 per month and set it up to where the rent was due on the 1st of the month, our "behind the scenes" processor would automatically notify your tenant that a balance is due on the 1st of the month for the exact rent amount. Your tenant would have the ability to pay the outstanding balance by eCheck from the tenant portal. The funds would be automatically deposited into your bank account and the Income & Expense Ledger would automatically reflect the rent received amount.

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