Connect your bank account(s).
First step involves connecting your bank. This allows you to receive rent, and other payments, and be directly deposited into your bank account.
Login to your account. On your main dashboard, under Quick Links, click Manage Bank. Then, click Connect Bank.
Here is our How To: Connect Your Bank guide for additional information and more thorough instructions.
Add the property to your My Properties.
With your bank connected, let’s add the property you wish to start collecting rent from. By adding this property, you can invite tenants, add lease terms, upload important documents.
Click My Properties and then Add Property. This will walk you through a form that shares details about the property (address, beds, baths, size, tenant responsibilities, etc.).
After completing this property, you will be redirected to My Properties and see your new property profile.
Here is our How To: Add a Property guide with more thorough instructions and details about adding your first property.
Invite your tenant and set up lease terms.
With the property now created, it’s time to invite the tenants and set up your lease terms. While Burbz isn’t the official lease, our platform utilizes the key terms of the lease to automate rent payments and reminders. These key terms include rent amount, due date, penalty/late date and penalties for being late.
Entering the Property Profile by clicking on the specific property on My Properties. There are two main tabs: Tenants and Lease.
Start by clicking Tenants tab and adding a new tenant. You will need their email so the invite can be sent. On this page, you will also enter their rent amount. Note: rent amounts can differ from lease amount if there are multiple tenants.
After inviting tenant, click Lease tab. On this page, you will enter all the major terms of the lease agreement. These dates and dollar amounts are utilized so Burbz platform can accurately send email reminders and apply late fees.
Here is our How To: Invite a Tenant guide for additional and more thorough detailed steps.
Multiple bank accounts, select the specific one.
Some landlords prefer to use multiple bank accounts for their real estate portfolio. If you need, you may connect multiple bank accounts following the first steps of Connect Bank.
On the Property Profile, you can click Bank tab (far right) and select the specific bank you wish to use from a drop down of all your banks connected.
Frequently Asked Questions
When collecting rent on Burbz
What type of payments can I collect on Burbz?
Tenants can send rent, late fees, pet deposits/fees, cleaning fees, redecorating fees and application fees. When paid online, these will be automatically recorded on your accounting report for the property.
Does Burbz track my payments for bookkeeping?
Yes. Any payments made or received through Burbz is automatically recorded on the property. This includes date, amount, payer, payee and scope definition.
Landlords can receive and make payments. Receive payments from the tenant. And make payments to your co-manager: monthly fees, leasing bonus, reimbursements and miscellaneous.
Will Burbz notify me when rent is paid?
Yep! When any payments are received, we will send you an email notification. When you make any payments to your co-manager, we’ll send you an email notification as well.
What if my tenant pays late?
When tenants don’t pay rent on time, Burbz provides assistance in several ways. First, we send several email reminders leading up to the due date and once rent is considered past due or late. In these emails, the rent amount, due date, late penalty date and fees are all clearly indicated.
If a tenant’s rent is considered late, their rent status is changed in Burbz. While late fees cannot be charged automatically, our platform only allows the tenant to pay Rent+Late Fees the next time they try to pay. On your accounting records, it will record a Rent+Late Fees.
Can my tenants set up auto-pay for their rent?
Of course! Our goal is making paying rent as easy as possible for your tenants. Tenants must be current on their rent payments before they set up auto-payments. With auto-pay on, they won’t receive reminder emails but both landlord/tenants receive payment notifications when it is paid.
Are there any costs to rent collection?
We charge $2.50 per payment made on Burbz. As a business, we have transaction fees as well on our end. Our goal is keeping all fees as low as possible, however there are expenses we must cover.
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