The AutoPay Policy allows you to set pre-authorized payment rules. The system can automatically update your AutoPay when the rents are increased or decreased but certain rules need to be adjusted.
This step-by-step guide will help you configure your AutoPay Policy.
- Go to Administration → Policies → Finance → AutoPay.
- Click on the organization policy to open it
The following can be customized for the AutoPay Policy:
On Lease Charge Change Rule:
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- Keep % Pay: Select this if you want the system to automatically adjust the AutoPay if the charge amounts change. For example, it automatically adjusts the autopay if the rent increases.
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- Keep Unchanged: Select this if you do not want the system to automatically adjust the autopay.
- If the balance is lower than the autopay, we will take the outstanding balance.
- Keep Unchanged: Select this if you do not want the system to automatically adjust the autopay.
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- Fixed Amount: Use this option if you would like to assign a fixed dollar amount that will not change or adjust based on the balance of the lease or any increases to the lease amount.
- Exclude First Billing Period Charge: Select this if you want to skip the AutoPay in the first month of renting.
- Exclude Last Billing Period Charge: Select this if you want the system to Automatically cancel the AutoPay in the last month's rent.
- Allow Cancellation By Resident: Allows residents to manage and cancel their AutoPayments themselves via the Resident Portal.
- Up to Limit: You can set a maximum payment amount for the AutoPay.
NOTE: By default, the maximum allowed by the payment processor is $5K, unless it has been raised separately. - Include Deposit Charges: By checking this box, the AutoPay will automatically include any Deposit charges in your Autopay calculation
- Include Pending AGI Charges: By checking this box, the AutoPay will automatically include any pending AGI charges
- Include Lease Adjustments: By checking this box, the AutoPay will automatically include Lease Adjustments into the Autopay calculation
- Include Other Fees and Charges: Include other fees such as Late Fees in the Autopay calculation
- Exclude Codes: Use this function to specify any codes that you do not want incorporated into the Autopay policy