Depending on how your tenant pays rent (card or bank transfer), you'll see your rent payout 2-8 business days after your tenant pays. Card payments are processed in 2-3 business days, bank payments take 6-8 business days.
If you need rent to be deposited in your bank account by the first of the month, ask your tenants to set their autopay settings to bill them 10 days before rent is due.
Payment Vs. Payout
When a renter pays their rent, this is considered a payment to Caretaker. After we verify the payment, we issue a payout to your bank account.
How to check the status of payments and payouts
You can check either of these from your dashboard in the Leases tab.
Different payment statuses
Pending: Caretaker is verifying this payment. This happens within a few seconds for card payments. Bank payments take 5 business days to verify.
Failed: This payment did not succeed. Typically this means the renter had insufficient funds in their bank account or their bank blocked the transaction.
Succeeded: The payment was fully verified and is ready to be paid out to you.
Different payout statuses
Pending: A payout will be marked as pending until the rent payment has been verified.
In Transit: We've sent a payout to your bank account and it's on its way. You can click on the payout to see an estimated deposit date.
Paid: This payout has been successfully deposited in your bank account. Depending on your bank, it can take up to 24 hours to show up in your available balance.
Different timeline for first month of rent
If your lease hasn't started yet, your first payout will arrive 4-5 business days after the start of your lease. If your renter makes their first rent payment less than 5 business days prior to the start of your lease, your rent payout may be delayed by an additional 5 business days.
Keep in mind that renters may file a Listing Guarantee claim within 24 hours of the start of the lease.