Dwolla, TenantCloud join forces to streamline rent payments
TenantCloud, which launched in 2014 to help landlords manage their businesses, has partnered with Dwolla to enable property management companies to collect rent payments through its platform via ACH.
The connection provides a fee-free service for tenants and landlords to send and receive payments, with the goal of reducing costly checks that are common in the residential rental market, the companies said in a Thursday press release.
TenantCloud, which is based in Texas, also enables landlords to manage applications and leases online, consolidating all key legal and financial operations on its website, the release said.
“We don’t believe tenants or property managers should pay a fee for making a payment and Dwolla makes that possible for us to offer,” said Joe Edgar, TenantCloud’s founder, in the release.
Des Moines-based Dwolla in 2016 switched its business model from a customer-facing app to creating white-label faster payments for businesses.