Inovium Renter: Frequently Asked Questions

What is InoviumPay - Property Manager Edition?
InoviumPay Property Management Editionis the easiest, most cost-effective way to collect rent and other fees from tenants. Rents are automatically withdrawn from tenant bank accounts and directly deposited into your property's bank account.
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Why should I use InoviumPay PME?
InoviumPay PME: Saves you time and eliminates headaches!

Eliminate time spent depositing checks.

Gain faster access to funds - no mail delays or checks sitting around undeposited

Receive prompt notification of who has paid.

Provide tenants with an ultra-convenient payment method - no more late rents!

You receive faster insufficient funds notification (in three days versus weeks with checks).

You eliminate checks, and thus the possibility of check fraud and misplaced checks.
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Do tenants need to have Internet access to use InoviumPay PME?
No. Tenants do not have to have a computer or Internet access to use InoviumPay PME. Tenants who provide an e-mail address or fax number will receive a monthly payment reminder.
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How do I get my tenants to use InoviumPay PME?
Tell your tenants that InoviumPay PME is safe and convenient. With InoviumPay PME, your tenants will never again forget to pay their rent, need to write a check, or pay for postage! Better yet, tenants with an e-mail address will receive advance notification of the exact date and amount that will be withdrawn from their bank account. And, InoviumPay PME fully complies with Federal Regulation E, the Electronic Funds Transfer Act of 1978, that protects all consumer electronic funds transfers.
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How do my tenants enroll?
Simply Click here to enroll right on the internet or by e-mail, or contact us at:
Support@InoviumRenter.com or (888) INOVIUM.

The enrollment process is fast and easy:
    1. You complete an authorization form and submit it for approval as the landlord or property management company.
    2. After you have enrolled, your tenants can enroll at any time. They complete a tenant enrollment agreement and submit it for approval by the landlord or property management company.
    3. After we notify you, you log into your Inovium Renter account and approve the indicate rent amounts and lease expiration dates for your enrolled tenants.

That's it! Once your account is set-up, payments are made automatically every month.
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Do I need to submit a Property Manager Enrollment Agreement for every tenant?
No. You only need to submit a Property Manager Enrollment Agreement when you are setting up a new InoviumPay PME account. Because each InoviumPay PME account debits on a specific day each month and credits to a specific bank account, some of our customers set-up more than one Inovium Renter account in order to debit tenants on different days of the month or to credit collected funds to different bank accounts.
InoviumPay PME automatically withdraws rent from tenant bank accounts and directly deposits it into your checking account. InoviumPay PME is the featured supplier on this Website as they are The Leader in Direct Rent Deposits!
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As a Landlord, why should I use InoviumPay PME?
Because InoviumPay PME will save you time and eliminate headaches! You will:
1. Eliminate time spent depositing checks (This is one distinction from Auto Rent Drafts, which sends you paper checks that you have to deposit at the bank. For additional distinctions between InoviumPay PME and Auto Rent Drafts, see the last question/answer).
2. Receive timely payments whether you are in town or on vacation.
3. Know about insufficient funds within days rather than weeks with paper checks.
4. Provide tenants with an ultra-convenient payment method.
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Why would my tenants want to use InoviumPay PME?
InoviumPay PME is an ultra-convenient payment method. There are many benefits to tenants:
1. Saves tenants time & money - no more postage, envelopes, or paper checks!
2. Ensures tenants never forget to pay - debits are automatic every month. Tenants with an e-mail address will receive advance notification of the exact date and amount that will be withdrawn from their bank account. No other automatic rent payment service provides this important reminder!
3. It's safe - Federal Regulation E (the Electronic Funds Transfer Act of 1978) protects consumer electronic fund transfers.
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How do my tenants get started?
Go to: https://www.inoviumolutions.com/renterAPI and click on Add New Tenant and it will ask the question do you want to register. Just complete the enrollment information and you as the Landlord will receive an email notification, which you will then approve or reject the enrollment. You as the Landlord are always in control.

Tenants enroll by completing an authorization form and submitting over the Internet to InoviumPay PME. (Suggestion: Make InoviumPay PME mandatory for new tenants and renewals. Have new tenants complete their enrollment form at the time of the lease signing!)

InoviumPay PME will notify you of new tenant enrollments. Then, simply log into your InoviumPay PME account validate the information is valid. That's it!
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What happens after my tenants and I enroll in InoviumPay PME?
Once setup, payments are made automatically every month.
1. Four days before the debit day - Tenants receive payment reminders (for those who provide an e-mail address or fax number).
2. First banking day of the month - Tenant bank accounts are debited. Contact InoviumPay PME if you need a different day for processing rents.
3. Four banking days later - Your checking account is credited net of Inovium Renter fees, and a payment report is e-mailed to you. The Federal Reserve Bank takes 1-3 banking days to confirm tenant funds have cleared.

Click now to send an e-mail to request information or call toll-free (888) INOVIUM.
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How is InoviumPay PME different from Auto Rent Drafts?
1. No set up fee with InoviumPay PME.
2. No trips to the bank - InoviumPay PME's fund transfers are electronic via the Automated Clearing House (ACH) payment network - the same network used for direct deposit of payroll. Rent is directly deposited to your checking account. You don't have to worry about checks piling up in the mailbox!
3. Faster access to funds - The credit to your checking account is made one to three banking days after tenants accounts are debited. Paper checks may take weeks to clear!
4. No mail delays - Fund transfers are electronic; therefore, any mail delay is eliminated. Rents cannot be lost in the mail or delayed because of the mail!
5. Prompt payment notification - By your credit day, you will know if any of your tenants had insufficient funds.
6. Rent payment reminders - Tenants are given advance notification by e-mail of the exact date and rent amount that will be debited from their bank accounts. Payment reminders help ensure tenants have sufficient funds to pay their rent.
7. Easy management - You control changes made to your account - at your convenience and at no cost.

Click now to sign up as a user or call toll-free (888) INOVIUM for more information to enroll in Inovium Renter.
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