Key Takeaways

• Real estate merchant accounts provide secure and efficient payment solutions for real estate agents, brokers, and managers involved in the rental and management of residential and commercial properties.
• Real estate merchants need the ability to accept payments in multiple ways.
• Corepay provides specifically tailored accounts for real estate/property management.

What Is A Property Management Merchant Account

A property management merchant account is a type of business account that you, as a property manager, need to facilitate reliable and secure processing of credit card and debit card transactions.

It’s not just about convenience. It’s about enhancing your cash flow, reducing late payments, and improving tenant satisfaction.

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Obtaining a merchant account from us is simple when you’re prepared to initiate payment processing for your real estate transactions.

Requirements include:

1. A voided check
2. Proof of business or personal bank account
3. Prior processing history
4. A fully compliant website
5. Chargeback history

The more information you provide, the easier we can assist and speed up the application process.

How Can Corepay Help With Your Real Estate Merchant Account?

As a registered ISO in both Europe and the USA, Corepay provides clients with an unparalleled experience and competitive pricing that sets us apart from others.

With years of expertise in collaborating with bail bond merchants, we assist them in achieving unprecedented success.

Here’s a brief overview of what Corepay brings to the table:

1. 24/7 customer service
2. Swift onboarding process
3. Highly competitive rates
4. Over two decades of payment processing experience
5. In-depth knowledge of the bail bond industry
6. Maximum approval rates

We have over two decades of credit card processing experience and understand what it takes to get and keep you approved.

Why Are Property Management Merchant Accounts High

While it may seem perplexing, property management merchant accounts are often considered high-risk due to several inherent factors in the industry.

Property management firms handle large transactions, typically by virtual terminals or phones, which increase the chance of fraud.

Chargebacks also tend to be higher in this vertical due to problems with tenants.

This volatility makes these accounts riskier for banks and other financial institutions. Consequently, fees are a bit higher than low-risk verticals to cover banks and payment processors.

Chargebacks

Real estate chargebacks occur when a customer disputes a transaction related to property transactions, such as buying or renting real estate. These disputes can arise from various reasons, including misunderstandings, dissatisfaction with the property condition, or allegations of fraudulent activity. In the real estate industry, chargebacks are complex, as they involve substantial sums of money and intricate contractual arrangements.

Paypal For Merchant Account

Opting for PayPal might appear convenient for real estate transactions, but notable limitations and challenges arise. PayPal is far less accommodating to high-risk industries like real estate, explicitly prohibiting transactions associated with these activities in its user agreement. PayPal also retains the right to terminate accounts linked to high-risk activities abruptly. Depending on PayPal for your real estate transactions could pose risks. At Corepay, we advise selecting a partner with expertise in the real estate industry to ensure more tailored and secure transaction solutions.

Choosing A Merchant Account

A real estate merchant account should allow for the following methods of payment:

• Moto
• Virtual terminal
• Online payment page
• POS

The more ways you can accept payment, the better the real estate industry.

We advise you to compare several payment processors before signing a contractual agreement. Only some merchant accounts are equal, and we are confident in the services we provide to our merchants.

Wrapping Up

If you’re looking to take your payment processing to the next level by maximizing your approval ratios, lowering your chargebacks, and decreasing your fees, fill out the application and find out what Corepay can do for you.