Payments - Yardi Integration FAQ

In this article, we will be posting answers to our commonly asked Yarid integration questions in regard to Payment Management. If this article does not cover a question that you have about our Yardi integration, please contact you VTS Activate for Multifamily representative or email support at multifamilysupport@vts.com. 

Which platform (Activate Multifamily or Yardi) do I use to manage Payments?

Financial information will sync back and forth between the two platforms, so you are able to manage payments in either platform. 

When a resident makes a payment within Activate Multifamily, will it immediately sync over to Yardi? 

Yes, the data between Yardi and Activate Multifamily refreshes each time the end user selects the Payments feature. 

What is Stripe?

Stripe is how we allow the end users to make a payment via a credit/debit card. Payments here are processed within the Stripes network and are transferred in batches to the property's bank account within 2-3 business days. 

What is Dwolla?

Dwolla allows for payments to be processed with a bank account (you will also hear the term ACH which stands for Automated Clearing House). Dwolla deposits these funds on a per transaction basis into the property's bank account after two business days.  Dwolla only accepts payments for charges that appear on the users ledger within the payments feature such as paying for work orders or reservations.

What are the transaction fees for cards and ACH?

For card transactions, there is a charge of 3.4% of the transaction total plus $0.30. For bank account transactions, it is $0.50 per transaction.

Can a Resident stop a payment after a payment is made through ACH?

No. There is no way to stop an ACH payment. Once it clears and is complete (3-5 days), the property can reach out to Support to initiate a refund.

If a Resident does not cancel their current recurring payments when they leave the property, what happens?

If there is no balance then the resident will not be charged. If the resident is removed from the property in Yardi then they will also be removed from the Activate Multifamily platform. 

If a Resident receives the following error message: “This account does not allow online payments. Please contact your Property Manager for assistance” What does that mean and what needs to be done?

The Property Manager needs to update the Payment Accepted status on the Resident Account in Yardi to allow online payments. This is because the user record in Yardi is set to one of the following payment status types: Do Not Accept (1), Cash Only (2), or On Hold (3). In order to accept payments on the VTS Rise platform, the user record in Yardi must be set to a status of Any (0).

What does it mean if a resident receives an email saying their auto payment failed to run because of a $0 balance? 

If the property has not posted charges from Yardi then the resident will have $0 on their ledger. Auto Payments will not debit the resident's bank account unless there is a balance due.