In certain scenarios it may become necessary to waive or refund the Web Payment Fees that are being charged to your tenants. As a result Property Vista has added a new Policy called Payment Fee Waiver Policy.
ADMINISTRATION --> POLICIES --> FINANCE --> PAYMENT FEE WAIVER
This Policy has several sections. Please read the entire article to ensure you are completing the appropriate part of the Policy that applies to your business objectives:
WAIVE WEB PAYMENT FEE
This section of the Policy will allow you, the PMC, to temporarily absorb the web payment fee. Unlike removing the web payment fee option this will show your tenants that there is indeed a web payment fee but that you, the PMC is waiving this fee on their behalf as part of a special waiver/promotion.
To activate this policy CHECK the box next to WAIVE WEB PAYMENT FEE and enter in the messages that you want your tenants/prospects to see. To finish with this policy uncheck the box and save as NEW VERSION.
One time Payments Waive Message: This is the message your tenants will see when making a one-time payment. This process is fairly straightforward. Example of a text to use here would be something like below that would need to be updated monthly if applicable:
"I acknowledge that my Web Payment Fee has been paid on my behalf by the Property Management Company as part of a special Waiver.
Note: This is a temporary waiver for the month of May 2020 only. Please check back if this waiver will apply for future months otherwise normal Web Payment Fees will apply once this waiver is over"
Email message: Tenants will receive the same email message as before confirming their payment. The only difference is an added paragraph which is not customizable with the following text below. The month will update automatically depending on the date:
"Your Web Payment Fee of $XX.XX is being paid on your behalf by your Property Management Company. This is a temporary waiver for the month of April 2020 only. Please check back if this waiver will apply for future months otherwise normal Web Payment Fees will apply once this waiver is over."
AutoPay Waive Message: This is the message your tenants will see when setting up an AutoPay payment. This process is a bit different than the one above as new tenants may be setting up AutoPay for months from now and the waiver may not be applicable anymore by that time. Example of a text to use here would be something like below that would need to be updated monthly if applicable:
Note: This is a temporary waiver only and may be cancelled at anytime and may not be in place by the time the AutoPay is processed. Please contact your Property Manager to see if this waiver will apply for future months otherwise normal Web Payment Fees will apply once this waiver is over."
Email Message: The email sent to tenants for AutoPay will include a paragraph that equals the AutoPay Waive message sent above. It will be the exact same wording.
Here is what your Tenants will see:
Web Payment Fee will be waived notice
The custom text (as per example above) for One-Time Payment
The custom text (as per example above) for AutoPay Payment
Email for AutoPay Setup:
When looking at the receipts of payments confirmation that web payment fee was paid for them.
SUBTRACT PREVIOUS WEB PAYMENT FEE
This section is designed to refund web payment fees from the previous month. In this scenario tenants are being charged the full web payment fee and the system will reduce their AUTOPAY by that amount the following period. This only applies to AutoPay and this policy should be turned off once the payments have been processed to avoid issues. NOTE: This assumes you, the PMC, already created manual credits for the accounts in question so there should be no arrears. This policy takes the amount of the previous AutoPay that was charged and will reduce the AutoPay for that amount for that period only.
To activate the policy check the box. When this period is over and payments have processed already update the policy by unchecking the box and pressing SAVE AS NEW VERSION