Recurring Payments

There are two types of recurring payments; 

1. Specific Amount.

Ex: "Pay $750 to my Property Manager on the 1st of every month."

2. My Full Balance.

Ex: "Pay whatever I owe to my Property Manager on the 1st of every month."

*Based on your Property Manager's preferences you may only have access to one of them.

First Payment:

Your Property Manager will allow you to choose from a range of dates for when your recurring payment can execute. If a certain date is restricted it is for a reason. Typically, this is due to Property Managers encouraging on-time payments or wanting your payment to apply to your ledger once your monthly rent charges have been posted.

Last Payment:

You are responsible for ensuring your recurring payment is cancelled when you move out. Choose an end date that makes sense for your lease or situation. Our options are:

1. Cancel on a specific date.  Click the calendar icon.
2. Continue indefinitely. Select Indefinite.

When you log into Inosio you will seen the 'Next Payment Date' in the recurring payment box. To view additional details, cancel or skip the next payment click 'View'. 

If you have an upcoming payment that you'd like to skip, simply click the 'View' button and then click 'Skip'. Your next payment date will advance to show the new next payment date.

If you need to undo the skip, simply click 'Unskip'.

If you no longer need a recurring payment you can cancel it by clicking the cancel button. No future payments will be made.

Normal Processing:

Recurring payments are processed the day they are scheduled to run. Depending on the type of payment and the day of the week (or holiday) you can expect to see the payment on your bank account or card statement on:

ACH:

Business day; the payment will hit your statement the next business day.

Weekend or holiday; the payment will hit your statement the 2nd business day.

Cards:

Business day or weekend; the payment will show in real time.

Exceptions:

In the event there is an issue processing your recurring payment you will be contacted via email. The reason will be noted in that email. Some common reasons are:

• No balance on file (My Full Balance recurring payments only).
  
• Payment Method was rejected (insufficient funds, card is currently blocked, etc.).
• Property Manager is no longer accepting payments from you (may or may not be due to a legal issue).
• The Property was deactivated in the Inosio platform.
• You cancelled your account with Inosio.