Collecting application fees from prospective residents is a great way to offset any tenant screening costs you may incur.
You can enter an application fee you received manually from a tenant, and if you're set up for ePay, you can receive fees electronically too.
There are a few steps you need to take before you're ready to accept application fees in Buildium.
First, make sure you've customized your online rental application and have the Apply Now page enabled on your public website.
When your application fee settings are set up properly, you're ready to start entering application fee payments.
In this article you'll learn:
- How to enter an application fee received in person
- How to process an application fee received by ePay
1. How to enter an application fee received in person
If the applicant has submitted a paper application instead of applying online, ensure they've been entered into Buildium.
To enter an application fee received in person:
- Navigate to Leasing> Applicants.
- Click the name of the applicant you want to enter the fee for.
- From the applicant summary page, select the Fee tab.
- Click Receive fee, and fill out the form. It's recommended to include the applicant's name in the memo field.
- When you've completed the form, click Record fee.
Once recorded, the application fee will stay in undeposited funds until you navigate to the appropriate bank account to record that the money has been deposited.
Click here to learn how to deposit received payments
2. How to process an application fee received by ePay
When an applicant pays their fee electronically, there is a step you need to take to make sure it's fully processed.
- Navigate to Leasing > Applicants.
- Click on the name of the applicant you want to process a fee for.
- From the applicant summary page, click the Fee tab.
- Click Process Fee.
- Verify the information in the pop up window. It's very important to double check information, as there is no going back once you click process fee. If the payment information is incorrect and the payment reverses, or the applicant wants to change their payment method, you will not be able to update the information in Buildium, and will have to then receive the fee manually.
- Click Process fee to initiate the electronic payment.