Before tenants can pay online
Tenants can pay rent online only after you link a bank account and its payout account is active. A credit card can't receive payouts, so rent must go to a bank account. Until setup is finished, your tenants see a message asking them to contact you. Only the account owner can manage bank accounts.
Link a bank account
On the web, open Banks & Cards and choose Add Bank Account. If one of your companies owns the account, choose it under Which company owns this account? (with one company it is already chosen), so rent for that company's properties can be paid into it. Choose No company for a personal account. You can change the company later on the bank account's page. Tick the consent box and choose Connect with Plaid. You sign in to your bank in Plaid, so KeyRing never sees your bank password. Choose the account to link, then choose Link Account.
Finish payout setup
Open the bank account and, under Stripe Setup, choose Set Up Payments with Stripe. Stripe asks for your business details, an EIN or SSN and the bank account for payouts, which takes about 5 minutes. While this is reviewed, the status shows Verifying your information... or Processing. It shows Verified when payouts are ready. If you see Account Restricted, contact us about that account.
Your payout bank in Stripe
During payout setup, Stripe asks for the bank account your payouts go to. Linking a bank through Plaid gives KeyRing its balance and transactions, and Stripe keeps its own record of where to send money, so enter the same account in Stripe. When the two match, each payout appears in that bank's feed, where you can match it. To send payouts to another bank later, change it in your Stripe dashboard. If your bank doesn't appear in Plaid or its sign-in fails, try again in a few minutes, then contact us.
Choose which bank gets rent
Rent for a property goes to the bank account marked Receives rent for that property. On the property page, under Rent collection, choose Send rent here on the account you want. If no bank is listed there, choose Edit Property and pick one under Bank Account. If a company owns the property and the property has no bank of its own, rent goes to the company's default payout bank. If the chosen bank hasn't finished payout setup, rent waits instead of going to another account. To unlink the bank that receives rent, first choose another bank to receive it.
Payment instructions
Open a bank account and choose Add Payment Instructions to save other ways you accept rent. The Notes for tenants field is required and can be up to 2000 characters. Under Alternative Payment Links, add between 1 and 10 payment methods. For each one, choose Zelle, Venmo, PayPal or Other and enter its link. Use Edit Payment Instructions to change them.
Payouts
Choose Payouts on Banks & Cards to see transfers to your bank. A payout can be Paid, Pending, In transit, Canceled or Failed.
Reconcile your bank feed
Each transaction from a linked bank appears in the Bank Feed, where you map it to a property, unit and category, split it, match it to a payout or ignore it. Open it from Banks & Cards, and see Map bank feed transactions for the steps.
Reconnect a bank
If a bank account shows Reconnect, sign in to your bank through Plaid again. If access was revoked, remove the account and link it again.