Rent & Security Deposits Terms

IMPORTANT NOTICE: RENTSPREE’S TERMS OF SERVICE INCLUDE AN AGREEMENT TO MANDATORY ARBITRATION, WHICH MEANS THAT YOU AGREE TO SUBMIT ANY DISPUTE RELATED TO YOUR (OR YOUR ORGANIZATION’S) USE OF THE RENT AND SECURITY DEPOSIT PAYMENT SERVICES (THE “RENT PAYMENT SERVICES”) TO BINDING ARBITRATION RATHER THAN PROCEED IN COURT.  RENTSPREE’S TERMS OF SERVICE ALSO INCLUDE A JURY WAIVER AND A PROHIBITION OF  CLASS ACTIONS. BY USING THE RENT PAYMENT SERVICES YOU AGREE TO BE BOUND BY THESE SUPPLEMENTAL TERMS (“TERMS”) AS WELL AS THE TERMS OF SERVICE INCLUDING, BUT NOT LIMITED TO, THE PROVISIONS RELATED TO ARBITRATION, JURY WAIVER, PROHIBITION OF CLASS ACTIONS AND DISPUTE RESOLUTION.  THIS MEANS THAT WHEN YOU USE THE RENT PAYMENT SERVICES YOU AGREE TO BE BOUND BY BOTH THE TERMS AND THE TERMS OF SERVICE.

If there is a conflict between the Terms of Service and these Terms, these Terms will control.

THESE TERMS ARE A LEGAL AGREEMENT BETWEEN YOU AND RENTSPREE AND GOVERN YOUR USE OF THE RENT PAYMENT SERVICES. THE RENT PAYMENT SERVICES ARE PROVIDED BY RENTSPREE, INC. (“RENTSPREE”, “US”, “OUR” OR “WE”). BY CLICKING THE “I ACCEPT” BUTTON, OR SIMILAR BUTTON INDICATING YOUR AGREEMENT, OR OTHERWISE USING THE RENT PAYMENT SERVICES, YOU REPRESENT THAT YOU’VE READ, UNDERSTAND AND AGREE TO BE BOUND BY THESE TERMS AND THE TERMS OF SERVICE. IF YOU DON’T AGREE WITH THESE TERMS AND THE TERMS OF SERVICE , YOU MAY NOT USE THE RENT PAYMENT SERVICES.

These Terms are subject to change by RentSpree.  Your continued use of the Rent Payment Services constitutes your acceptance of such change(s). We encourage you to regularly check the Terms of Service and these Terms to view the most current terms. In addition, by using the Rent Payment Services you agree to be bound by RentSpree's Privacy Policy.

By accessing the Rent Payment Services on behalf of an organization, you represent and warrant that you have the authority to bind that organization to these Terms, that you’ve read and understand the Terms, and on behalf of the organization you represent, you agree to the Terms. All references to “you” and “your” include you and the organization you represent and any authorized user of the Rent Payment Services in that organization, or you personally if you are not accessing the Rent Payment Services on behalf of an organization. You may access the Rent Payment Services only if you understand, agree and accept the Terms. If you don't have legal authority to bind your organization to these Terms or do not agree with these Terms, you may not use the Rent Payment Services.

Last Updated: January 12, 2024

1. Rent Payment Services

The Rent Payment Services enables landlords, real estate professionals and property managers (together, “Landlord(s)”) to accept payments of rent and security deposits as well as utility, pet, parking, cleaning, move-in fees, lease termination, late fees, proration and other payments from tenants (“Tenants”) via ACH, credit card or other means (each, a “Payment Method”).

In order to use the Rent Payment Services, Landlords must enter into an agreement with a Third-Party Service Provider (defined below). The Third-Party Service Provider facilitates the acceptance and settlement of funds to Landlords.  Additionally, both Tenants and Landlords must establish an Account (defined below) with RentSpree  in order to use the Rent Payment Services and Landlords must set the appropriate payment amounts due for each Tenant in the Landlord's Account. Landlord represents and warrants that any payment amount due is accurate and in accordance with the terms of any lease or other agreement between Tenant and Landlord.  Landlord is responsible for all billing errors or inaccuracies.  

If you are an agent or other real estate professional and are facilitating the collection of security deposits on behalf of tenants or landlords, you represent and warrant that you have the authority to do so and that you are not barred from doing so by applicable law or the rules and regulations of any applicable brokerages, MLS, realtors or similar organization.

RentSpree does not actually or constructively receive, hold or transmit funds in connection with the Rent Payment Services. Landlord authorizes and appoints RentSpree to obtain any necessary payment authorizations from Tenant on Landlord’s behalf.  Nothing in the foregoing will impose a responsibility on RentSpree for Tenant payments, including failed payments. Payments are processed, authorized and settled to Landlord in accordance with the agreement between Landlord and Third-Party Service Provider.

2. Registration

To access and use the Rent Payment Services you must become a Registered User, which is a user who has registered an account on the Site (“Account”).  By registering an Account you agree (a) to provide true, accurate, current and complete information about yourself as prompted by in the registration process (the “Registration Data”), (b) to maintain and promptly update the Registration Data to keep it true, accurate, current and complete, and (c) represent and warrant that you (i) are at least eighteen (18) years of age, (ii) have the right, authority and capacity to enter into these Terms (on behalf of yourself or the entity you represent), and (iii) are not barred from using the Rent Payment Services under the laws of the US, your state or city or any other applicable jurisdiction.  You are responsible for all activities that occur under your Account.  You agree that you will monitor your Account to restrict use by non-authorized users and you accept full responsibility for any unauthorized use or access of your Account by any unauthorized user.  You may not share your Account or password with anyone, and agree to notify RentSpree immediately of any unauthorized use of your password or any other breach of security. If you provide any information that is untrue, inaccurate, not current or incomplete, or RentSpree has reasonable grounds to suspect that any information you provide is untrue, inaccurate, not current or incomplete, RentSpree may suspend or terminate your Account and refuse you any current or future use of the Rent Payment Services and RentSpree’s other services.  You agree not to create an Account using a false identity or information or on behalf of someone other than yourself and agree not to create an Account or use the Rent Payment Services if you’ve previously been removed or banned by RentSpree in connection with any of its services.

As part of the Account registration process we and the Third-Party Service Provider may require you to provide an image of your government-issued photo ID, a photo of yourself, as well as some basic identification information, solely for identification verification. Click here for information on how Stripe, our current Third-Party Service Provider, processes your data.

3. Recurring Payments; Security Deposit

If Tenant agrees to recurring automatic payments using the Rent Payment Services, Tenant hereby authorizes RentSpree on behalf of Landlord to charge or debit Tenant’s Payment Method for the total monthly payment amount as stated in Tenant’s Account, plus applicable fees, on a recurring monthly basis. Tenant’s authorization will remain in full force and effect until the recurring payment is ended by Tenant or Landlord in accordance with these Terms.

If Tenant agrees to pay security deposit to Landlord using the Rent Payment Services, Tenant hereby authorizes RentSpree on behalf of Landlord to charge or debit Tenant’s Payment Method for the total security deposit, plus any applicable fees. Landlord acknowledges and agrees that they are solely responsible for compliance with all applicable security deposit laws and regulations, including, but not limited to, those requiring placement of security deposits into escrow- and interest-bearing accounts. Please note that RentSpree  does not currently have an ability to return security deposits to Tenants.

For questions on managing recurring payments or your RentSpree account, please visit support.rentspree.com.

4. No Responsibility for Non-Payment and Associated Fees

The Site and Rent Payment Services enable Landlords to receive payments from Tenants that are processed by the Third-Party Service Provider pursuant to an agreement between Third-Party Service Provider and Landlord. RentSpree is not a party to, and is not responsible for, payments processed by Landlord via the Site or the Rent Payment Services. Without limiting the foregoing, the Site provides information to Tenants and Landlords regarding status of payments processed by the Third-Party Service Provider on behalf of Landlord, and RentSpree may assist Tenant to address any discrepancies, issues or concerns with such payments in accordance with these Terms.

If Tenant’s rent, security deposit or other payment is rejected, fails or is otherwise unsuccessful, Tenant acknowledges and agrees that it’s their sole responsibility to initiate a new transaction or make payment to the Landlord in another manner.  Tenants will be notified of such rejection or failed payment by RentSpree. Tenant will be responsible for all fees associated with such rejection or failure, whether due to RentSpree or another party, including without limitation, loss incurred due to insufficient funds, chargebacks, claims, reversals, retrieval fee, recall fees, excessive returns fees, early funding fees, account maintenance fees or any other unsuccessful transaction or other fees associated with the payments. RentSpree reserves the right to charge Tenants for such fees either directly or on Landlord’s behalf. Tenant acknowledges and agrees that Landlord reserves the right to seek payment through or outside of the Rent Payment Services if no payment is received through the Rent Payment Services, in accordance with an applicable lease.  Landlord acknowledges and agrees that RentSpree has no responsibility for the non-payment of rent, security deposit or other payment by Tenant, including but not limited to any non-payment arising from insufficient funds, chargebacks, reversals, claims or any other unsuccessful or canceled transaction or for any disputes between Landlord and Tenant arising with respect to any payment or non-payment.  Landlord will look solely to Tenant for payment or, if the rejection or failure for payment lies with the Third-Party Service Provider, Landlord will look solely to the Third-Party Service Provider.

RENTSPREE IS NOT A COLLECTION COMPANY AND DOES NOT, IN ANY WAY, GUARANTEE TENANT’S PAYMENT OF RENT, SECURITY DEPOSIT OR OTHER FEES.  RENTSPREE DOES NOT TAKE ON ANY RISK ASSUMED BY EITHER PARTY IN CONNECTION WITH ANY TRANSACTION CONDUCTED THROUGH THE RENT PAYMENT SERVICES.

5. Reversals of Payment

Landlord acknowledges RentSpree’s right, but not obligation, to investigate any transaction for potential fraud.  RentSpree reserves the right to reverse Tenant payments or take any other actions it deems necessary in the event RentSpree suspects fraud has occurred.

If a Tenant, Third-Party Service Provider or provider of Payment Method initiates a reversal, chargeback or disputes a payment, Landlord hereby authorizes RentSpree and the Third-Party Service Provider, in accordance with the policies and procedures of Landlord’s applicable financial institution, to initiate a transaction reversal or otherwise debit funds from Landlord’s bank account or Account.

If a Third-Party Service Provider is unable to reverse or otherwise debit funds from Landlord’s account, Landlord will promptly deposit such funds into Landlord’s Account at RentSpree’s request.

Nothing in the foregoing will be construed to modify or limit any rights or obligations with respect to any agreement between Landlord and Third-Party Service Provider.

6. Fees

You agree to pay all fees or charges for the Rent Payment Services and any related charges in accordance with RentSpree’s terms in effect at the time a fee or charge is due and payable. The applicable agreement for your Payment Method governs your use of the Payment Method for payments to RentSpree, and you must refer to that agreement, not these Terms or the Terms of Service, to determine your rights and liabilities. By providing RentSpree with your payment information, you authorize RentSpree to immediately charge your Account for all fees and charges due and payable to RentSpree hereunder and agree that no additional notice or consent is required. You agree to immediately notify RentSpree of any change in your billing address or related information or Payment Method. RentSpree reserves the right to change its prices and billing methods. Fees paid under these Terms are in no way considered payment for the sale, license or use of RentSpree’s software.

7. Financial and Payment Data

Both Tenant and Landlord represent and warrant that the payment and financial information provided to RentSpree (including the Registration Data) is true, accurate, current and complete.  Tenant hereby consents and authorizes RentSpree to disclose any information provided by Tenant through the Rent Payment Services to Landlord and/or Third-Party Service Provider in order to provide the Rent Payment Services.

RentSpree currently uses Stripe, Inc. as the Third-Party Service Provider for applicable payment services (e.g., ACH payments, card acceptance, merchant settlement and related services) (“Third-Party Service Provider”).  By making any payment through the Rent Payment Services, you agree to be bound by Stripe’s Privacy Policy, Services Agreement and any other applicable policies and hereby consent and authorize RentSpree and Stripe to share any information and payment instructions you provide to each other and any payment providers to the extent required to complete your transactions. You can find out more about how Stripe manages data here and here.

RentSpree also uses Plaid Inc. (“Plaid”) to collect data from financial institutions.  By using the Rent Payment Services, Landlord consents and authorizes Plaid to transfer, store and process any information, including financial information collected from Landlord or Landlord’s financial institution in accordance with the Plaid Privacy Policy and for RentSpree and Plaid to share such information to the extent required to provide the Rent Payment Services.

RentSpree reserves the right to change Third-Party Service Providers.  If we do so, we will inform you and you will be subject to the terms and conditions of that new Third-Party Service Provider. If you do not wish to utilize the new Third-Party Service Provider, you may terminate the Rent Payment Services in your Account.

8. Interactions with Other Users

You are solely responsible for your interactions with other Registered Users and any other parties with whom you interact; provided, however, that RentSpree reserves the right, but has no obligation, to intercede in such disputes. You agree that RentSpree will not be responsible for any liability incurred as a result of such interactions.

Other Terms and Conditions

For all other terms and conditions, including, but not limited to, Use; Personal Information, Data (including Resultant Data and Analytical Data), Materials, Proprietary Rights, Security Breach, California Users, DMCA, Confidentiality; Disclaimer, Liability, Indemnification; Dispute Resolution; Miscellaneous (including but not limited to Compliance; Waiver; Severability; Assignment; Entire Agreement; Choice of Law/Jurisdiction; Relationship; Notice) please consult our Terms of Service.