Each transaction processed through Re-Leased Pay has transaction fees associated with it. When setting up your Re-leased Pay account, you will configure the allocation determining who consumes all or part of the fees. You can have your tenants consume their fees, you can take on their fees or you can define a split percentage and share the consumption of the fee with your tenant. This is a company wide setting applied to all tenancies.
Configuring processing fees during onboarding
Fees can be split by percentage between:
- Your tenants
- Your company
You will only have to type the percent allocation into 1 of the fields. The other percentage is automatically calculated after you hit the enter key or click out of the field.
- In Re-Leased Pay Account Settings, click on the Payment processing fee step
- Enter the fee allocation you want to apply for all tenants
- Click Save payment processing fee
Next step (onboarding): Confirming payment options for Re-Leased Pay
Updating processing fees
Once you have completed setting up your Re-Leased Pay account, processing fee allocations can also be viewed and updated from the Processing Fees page in your Settings under the Re-Leased Pay section.
Updating the fee allocation from this page is the same as when setting up your Re-Leased Pay account. You will only have to enter a percentage into 1 field, and the other percentage will automatically be calculated.
Billing fees consumed by your company
For configurations where you (as the company) are consuming part or all of the fees, Re-Leased will record all transaction fees on your behalf. Re-Leased will then invoice you the fees collected, twice per month on the15th and last day of each month.