How to Refund a Tenant
Tenant refunds in Rentvine can be processed through various methods, including manual check refunds and ACH refunds via the Move-Out flow. This article will guide you through the steps for refunding tenants and resolving payment issues.
1. Click on the tab labeled "Leases" on the left side of the screen. Next, you will search for the specific tenant's lease you are looking to refund. Click on the row to view the lease.
This will bring up the lease, and you will click the green Actions button in the top right. In that menu, you will click Refund. This will bring up a new screen with the refund details. You can then fill out all of the information for the check, including the bank account, memo, name on the check, date posted, check number, and the payment address. Note that the name on the check defaults to the primary tenant on the lease but can be edited in the "Name on Check" field. Additionally, this method is typically used for duplicate payments or overpayments, while security deposit refunds are generally processed through the Move-Out flow.
4. This will then pull up a confirmation screen. On this pop-up up you will click on the "Confirm Refund" button to finalize the refund.
5. Once completed, you can click on the refund from the Transactions tab of the lease. This will pull up the refund information. From the green Actions button, you will be able to print the check from the system with all of the information you just filled out.
Additional Refund Methods and Troubleshooting
ACH Refunds via Move-Out Flow
To process a refund via ACH:
Use the Move-Out flow in Rentvine.
On the final page, select the tenant’s saved payment method or enter new banking details.
Security Deposit Refunds
Security deposit refunds are also managed through the Move-Out flow. If ACH is selected, ensure the tenant’s banking details are accurate. If no saved payment method exists, collect and add the details during the process.
Troubleshooting ACH Errors
R03: "No Account/Unable to Locate Account." Verify the account and routing numbers with the tenant’s bank and resubmit the payment.
U80/U02: The account is on the Known Bad List (KBL) and is automatically declined.