Appfolio Echeck Fee Structure and Impact

Appfolio eCheck fees can add up quickly, but understanding the fee structure is key to managing costs.

Appfolio charges a flat fee of $1.75 per eCheck transaction.

For property management companies, this fee can be a significant expense, especially if they process a high volume of eCheck payments.

Appfolio's eCheck fee structure is a flat rate, meaning the company doesn't charge a percentage of the transaction amount.

AppFolio launched a $2.49 transaction fee for eChecks on July 31, 2023, affecting multifamily properties and HOA dues.

The fee applies to tenants paying rent and owners paying HOA dues, and property managers who don't want to pass on fees to residents can pay a reduced rate of $1.00 per transaction.

Unfortunately, property managers often lack the authority to accept the $1 cost directly or change to a new software, leaving them to handle complaints from residents.

Some residents and owners accustomed to paying no fees will be angered and upset about AppFolio's new transaction fees, despite being only $2.49 per month.

According to WealthGang, 47.5% of people say avoiding unnecessary fees is extremely important to them, and housing was ranked 3rd on a list of industries where Americans hate paying fees.

Here are some potential complaints and questions property managers can anticipate:

The cost to process an eCheck is around $0.10, but AppFolio is now charging $2.49, which is undoubtedly factored into their earnings expectations.

AppFolio has introduced a $2.49 transaction fee for eCheck payments, effective July 31, 2023. This fee applies to tenants paying rent at multifamily properties and owners paying HOA dues.

Property and community managers who don't want to pass on fees to residents can pay a reduced rate of $1.00 per transaction. However, most property and community managers lack the authority to accept the $1 cost directly or change to a new software.

Here are some potential complaints and questions property managers can anticipate from residents and owners:

The cost to process an eCheck is around $0.10 according to Bill.com, but AppFolio is now charging $2.49. This fee is likely to create major headaches for property and community managers, who will need to handle an onslaught of complaints from residents and owners.

AppFolio has recently introduced a $2.49 transaction fee for eCheck payments, effective July 31, 2023. This fee applies to tenants paying rent at multifamily properties and owners paying HOA dues.

The fee is not optional, and property managers who don't want to pass it on to residents can pay a reduced rate of $1.00 per transaction. However, many property managers lack the authority to accept the $1 cost directly or change to a new software.

The new fee is likely to cause headaches for property and community managers, who will face complaints and questions from residents and owners. Some 47.5% of people say avoiding unnecessary fees is extremely important to them, according to WealthGang. Housing was also ranked 3rd on a list of industries where American's hate paying fees.

Here are some potential complaints and questions property managers can anticipate:

The cost to process an eCheck is around $0.10, but AppFolio is now charging $2.49. This fee is likely to be factored into their earnings expectations, as it's free money for the company.

You can pay your rent using a few different methods.

Online payments are accepted through the AppFolio Resident Portal, where you can pay via eCheck, bank transfer, credit card, or debit card. Fees for these transactions are set by AppFolio.

AppFolio now charges a flat fee per eCheck transaction, a change that took effect in Summer 2023. This fee is not set by North Berkeley Properties and cannot be waived.

If you prefer to pay by mail or drop off, North Berkeley Properties accepts personal checks, money orders, and cashier's/bank checks. Checks should be made payable to 'North Berkeley Properties' and have your name clearly printed on the top left corner.

You can mail your check to the office or drop it off in person using the 24/7 drop box located by the sidewalk entrance.

AppFolio's decision to add fees for eCheck payments is a significant change that's likely to impact property and community managers. The fee is $2.49 per transaction, which is a substantial increase from the $0.10 cost to process an eCheck.

This new fee applies to tenants paying rent and owners paying HOA dues, and property managers are expected to pass it on to residents. If they don't want to pass on the fee, they can pay a reduced rate of $1.00 per transaction themselves.

The new fee is likely to create headaches for property and community managers, who will need to handle complaints from residents who are upset about the additional cost. According to WealthGang, 47.5% of people say avoiding unnecessary fees is extremely important to them, and housing was ranked 3rd on a list of industries where Americans hate paying fees.

Here are some potential complaints and questions property managers can anticipate:

AppFolio was paying the eCheck processing costs, but decided to pass them along to residents, owners, or management companies.

This decision was likely made to recoup the costs associated with processing electronic payments. ECheck processing fees are typically the lowest among all types of electronic payment.

The cost to residents is $2.49, while management companies are charged $1. This is a notable increase, especially considering the low cost of eCheck processing fees.

Many commenters on a Reddit thread believe AppFolio is using the fee to quickly and easily increase revenue.

AppFolio, a property management software, has decided to start charging customers for eCheck payments. This is a significant change, as many residents and owners were used to paying no fees.

The fee is $2.49 per transaction, which is a notable increase from the typical eCheck processing cost of $0.10. This fee will be applied to all payments made via electronic check, including rent payments and HOA dues.

Property and community managers who don't want to pass on the fee to residents can pay a reduced rate of $1.00 per transaction. However, this option may not be feasible for many managers due to a lack of authority to accept the cost directly or change to a new software.

The new fees are likely to create major headaches for property and community managers, who can expect to receive complaints and questions from residents and owners. Some of the common complaints and questions include:

These questions highlight the importance of transparency and communication in managing customer expectations. Property managers should be prepared to address these concerns and provide clear information about the new fees.

Here are some key facts about the new fees:

As a property manager, you're likely feeling the impact of AppFolio's eCheck fee on your business. The $2.49 fee per transaction can add up quickly, especially for households that split payments across multiple accounts.

This change has caused a stir among tenants, who are now being charged extra for what was previously a free service. The eCheck fee can feel like an unnecessary burden to tenants who are already facing rising rents.

You'll need to revisit your leasing agreements to ensure they explicitly outline any fees related to payment processing, so tenants aren't caught off guard. Transparency is key in this situation.

Offering alternative payment options, such as paper checks or money orders, can help reduce frustration for tenants who wish to avoid the eCheck fees.