Here are answers to frequently asked questions about rent collection, how long to receive/process/transfer rent payment funds from tenant's account to yours!
How long until the rent payment shows in RentRedi?
Immediately! After a tenant initiates their rent payment, it is recorded in RentRedi in real-time.
How long until it comes out of the tenant's account?
Payments made during normal banking hours are typically reflected on the tenant's side that day or in 1 business day.
How long until payments are available in your bank account?
Payments are usually available within 4-5 business days in the landlord’s account.
Our processor, TSYS/Global Payments, uses a 3-day hold to allow time for most banks to confirm the availability of a tenant's funds, resulting in deposits to the landlord account typically on the 4th business day after submission of payment.
Note: When you first sign up, payments undergo a standard verification process. As a safety measure for everyone on the platform, it may take a little longer to process payments at the very beginning.
Additionally, your bank may have their own policies about how long they hold your funds before they make them available, so you can check with your bank regarding that if you would like.
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