What is ClickPay, It’s Safety, Pros and Cons

This article is part of our multifamily education series for rental property investors.  Apartment Loan Store is not affiliated with ClickPay.

What Exactly Does ClickPay Do?

Founded in New York City in 2009, Clickpay, is a secure billing and payment cloud-based processing platform servicing renters, owners, and property managers nationwide of rental homes, multifamily units, condos, co-ops and commercial spaces.

ClickPay makes it convenient and easy to make payments through their app or online portal for rent, deposits, condo dues, and HOA fees via credit cards, debit cards and ACH e-check.  You can also scan paper checks to them on your phone.

Is ClickPay Safe?

ClickPay is an industry leader in security. They use the latest and highest encryption levels available to protect financial and personal information. All credit and debit card numbers are tokenized upon entry and stored on PCI compliant bank servers.  ClickPay employees do not have access to credit/debit card, or banking information.

ClickPay is trusted by over 3 million users nationwide and is owned by Realpage,  founded in 1998, one of the world’s largest and highly respected providers of property management software, servicing over 23 million units worldwide. 

ClickPay Pros

• Provides a convenient dashboard where billing statements, and payment history can be viewed. Best of all, the user account and property management receivables accounts update in real time.  With an exact time stamp on when funds are received, disputes over late fees are minimal.
• When the user sets up auto reoccurring payment of rent and association dues they are always paid on time.
• ClickPay has been around for 18 years and continues to improve their software making the platform easy and intuitive to use.
• Overall, users say they can get a representative on the phone quickly with their problems being resolved within days.
• Users feel confident that their personal and financial information is secure.
• ClickPay sends out texts and emails to remind users when an upcoming payment is due.

ClickPay Cons

• Tenants and HOA members pay all the fees for the service.
• ClickPay does not have access to detailed property management statements and sometimes tenants are charged extra non-recurring charges they do not expect or agree with. Overpayments must be resolved with the property manager or condo association which can result in refund delays that are credited to next month’s billing statement.
• ACH e-check transaction cost between $1.50 and $3.00 per transaction. Visa credit card fees are 2.95% per transaction.
• ClickPay charges a fee on top of the bank’s fee for checks that  do not clear.
• Renters have complained on Redit that if there is a dispute and the property manager is not responsive; they are stuck with the charge.  

What are ClickPay Fees?

• ACH E-Check: On their website ClickPay states that there is no charge for auto recurring e-checks.  One-time nonrecurring e-checks will pay a fee of $3.00. 
• Credit and Debit Cards.  Service charges are passed on to the user and are typically 2.95%.
• Phone Payments: $6.95 - $9.95.

How does ClickPay work for Renters and Other Users

It is a seamless process, as users can pay rent, dues and deposits via ClickPay’s portal and they can see on their dashboard their ledger being updated in real time.  Bank accounts and credit and debit cards are most often debited one business day later.   

Credit cards, debit cards, ACH (e-checks), paper checks via lockbox, and remote scan deposits can be made from your smart phone.  Amazingly, ClickPay allows cash payments at over 35,000 retail locations for users without bank accounts.

How do Landlords and Property Managers use ClickPay?

Landlords and property managers receive payments in one business day and tenant and receivable ledgers are updated and reconciled in real time.  ClickPay integrates directly with most property management systems like Yardi, RealPage, MRI and AppFolio.

What Companies Use ClickPay the Most?

ClickPay is mostly used by rental property and Homeowner Association managers to collect rent, deposits, and monthly maintenance fees. 

Top Companies that Use ClickPay

• Rpm Living:  One of the largest property management companies in the country
• FirstService Residential:  Also one of the largest property management companies.
• Dogulas Elliman Property Management – one of the largest co-op and condo property managers in New York City.
• The Moinian Group: A top multifamily developer and holding company
• Rose Associates: A top real state developer and property manager.

Who are ClickPay’s Competitors?

It is recommended that property managers and condo/HOA associations research similar services. ClickPay’s competitors include RentPayment,  Appfolio, Turbo Tenant, Entra, Zego, RentPayment, Yardi Payment Processing, and Buildium.com.  Renters will be using the payment processing service that their property manager uses.

Contact ClickPay

For more information about ClickPay, go to their website at https://clickpay.com/

Call Click Pay: Property Managers: 1-877-464-2159; Residents: 1-800-533-7901