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RoommatePay FAQs

What is RoommatePay?

RoommatePay makes splitting rent among roommates easy. Instead of a single person responsible for a lease to make the entire payment (and chasing down roommates for Venmo or Zelle), RoommatePay automatically debits each roommate's bank account and makes a single payment to the property manager/landlord. RoommatePay is available through property managers/landlords that have signed up for our service.

Why do property managers/landlords love RoommatePay?

  • RoommatePay promotes on-time payments by making it easier than ever for roommates to pre-enroll in paying rent.
  • RoommatePay attracts renters that don’t want the hassle of roommates having to reimburse the leaseholder with services like Venmo or Zelle
  • No transaction fees to the property manager/landlord - just on-time rent payments!

Does RoommatePay work for roommates where the property manager/landlord is not signed up?

No - currently, RoommatePay is only available for property managers/landlords that offer our service.  If you want to get your property manager/landlord added to our platform, please give us their info here. (link to Jotform for property manager/landlords interested in our service)

Is there a fee to use RoommatePay?

There is a convenience fee paid each month per roommate of $9.95. For four roommates splitting a $2000 rental, this is less than 2% of their rent. This fee covers the costs of connecting each roommate’s bank account, individual debit from each roommate’s bank account and combining funds to make a single payment to the property manager/landlord.

Can roommates pay with credit/debit card with RoommatePay?

No - RoommatePay only offers pay-by-bank functionality using each roommate’s online banking login and password.

What is the debit date for roommates to pay rent?

As rent is almost universally due on the first of each month, RoommatePay’s debit date is the 25th of each month.  This allows for any or all of the following:  weekends/holidays, shorter months (like February) and the time for funds to clear your bank account for payout to your property manager/landlord.

Does each roommate need to have a US-based bank account to use RoommatePay?

Yes - each roommate must have a US-based bank account to use RoommatePay.