Frequently Asked Questions
Why should I use ClearNow/Express Landlord Services?
1. ClearNow/Express Landlord Services makes the rental reporting payment process efficient thus saving you time. Payments are automatically withdrawn from tenant bank accounts and directly deposited into the property management company bank account three banking days later. You eliminate waiting for checks and trips to the bank.
2. ClearNow has been serving landlords, property management, and tenants since 2000 with a flawless (A+ rating) record with the Better Business Bureau. They have lots of experience with online rent collection and are happy to provide customer references upon request.
3. ClearNow/Express Landlord is innovative. Tenants can establish credit history by having ClearNow furnish their ClearNow rent payment data to Experian Rent Bureau.
4. ClearNow/Express Landlord is here for you. Customer service is available via telephone or email Monday through Friday 9am-5pm ET. Call us at (866) 882-5327 or email us at Support@ClearNow.com.
How much does ClearNow/Express Landlord cost?
As Express Landlord Services is the property manager, our company will establish a monthly fee of $45.00 plus sales tax to verify rental payments to landlords buy tenants to be processed buy ClearNow.
Each account debits on a specific day and credits to a specific bank account. There are no set-up fees and no long-term contracts. Fees are only charged when ClearNow/Express Landlord Services attempts to debit a tenant.
What happens after tenants enroll?
The following will occur automatically:
1. Eight days before the debit day - Tenants receive payment reminders (for those with e-mail) from ClearNow.
2. Debit day - Tenant bank accounts are debited. Debit monthly, biweekly, or semimonthly.
3. Credit day - Three banking days after the debit day, your bank account is credited net of ClearNow/Express Landlord Services fees and a payment report is e-mailed to you. The Federal Reserve Bank takes three banking days to confirm tenant funds have cleared.
Can tenants use a prepaid debit card with ClearNow/Express Landlord Services?
ClearNow/Express Landlord Services can debit prepaid cards that permit an ACH debit to the card account. Tenants should check with their card company to see if their account can accept an ACH debit.
What happens if tenants do not have enough funds in their bank account?
ClearNow will notify Express Landlord Services via e-mail of tenants who failed their debit via ClearNow. Tenants will need to pay their rent directly to Express Landlord Services in another form such as a check or money order. ClearNow/Express Landlord Services will not re-attempt the debit for that payment. ClearNow may assess a fee to the tenant for the failed debit.
How does ClearNow/Express Landlord Services handle partial rent payments?
Express Landlord Services does not collect partial rent payments. If a tenant does not have 100% of the rent amount in his/her bank account, then nothing is collected.
Reporting Payments to Credit Bureaus
Does ClearNow/Express Landlord Services report rent payments to credit bureaus?
Tenants enrolled in ClearNow/Express Landlord Services may report their rent payments by checking the opt-in box when they are successfully enrolled in ClearNow/Express Landlord Services. ClearNow/Express Landlord Services is a data furnisher to Experian Rent Bureau and PRBC. Upon completing four consecutive payments, the data is furnished to Experian Rent Bureau and PRBC. Our clients should be mindful that after ClerNow report to the credit bureau it may take up to 60 days to actually show on the credit report. ClearNow or Express Landlord Services are not in control of when the rent shows up on a clients credit report that is solely up to the credit bureau.
What is the cost to report payments to credit bureaus?
We do not charge an additional fee for furnishing data to Experian Rent Bureau and PRBC.
How does credit reporting work?
1. After your tenants enroll in ClearNow, they provide consent to ClearNow to have their ClearNow rent payment data furnished to credit bureaus.(Opt in box)
2. For successful rent payments through ClearNow, nothing needs to be done. For debits that fail or are blocked, Express Landlord Services must update your tenant's ClearNow payment record (via your ClearNow account).
3. After four (4) payment records, the first submission of data is furnished. Thereafter, data is furnished monthly. Click the link below to get started today!