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.
2. Click on the Policy to open.
3. Click on the edit icon.
4. Proceed to the settings tab and modify the fields as you see fit.
The following can be customized for the AutoPay Policy:
- On Lease Charge Change Rule:
- 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.
- 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.
- 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