What you'll learn in this article:
- Is this available for multifamily properties?
- How do I check the status of a payment?
- 1099-K form FAQ
- How does my renter accept the new rent amount change?
- Where can my renter go to make their rent payment?
- How are you keeping my bank account information safe?
- Why did my renter mark their payment as paid offline?
- What do I do after my renter’s rent payment has failed?
- What if the rent does not get deposited into my account?
- Can my renter make a late payment or pay ahead?
- Does Zillow offer lease agreements?
- I own more than one rental property. Can I use Zillow Rental Manager to collect payments for all my properties?
- Can roommates pay separately or each pay a portion of the rent?
- Do you report my rent payments to the IRS?
- Is this feature available on the Zillow Rental Manager app?
- Are payments recurring or does the renter have to initiate payment each month?
- What if the payment is declined?
- How long will it take for the rent payment to be deposited into my account?
- When I request a payment for something besides rent, what are my tenant’s payment options? Can they use a credit card?
- How much does it cost to use online rent payments?
- What reminder emails do you send to my tenant?
- Can my tenant “overpay” or underpay and carry a balance?
- How will my renter know when I request a payment for something besides rent?
- What is ACH?
Is this available for multifamily properties?
No, currently this feature is only available for landlords with 25 units or less.
How do I check the status of a payment?
To check the status of your tenant's payment, go to your Zillow Rental Manager account and go to the Payments tab then select View all payments on the property card. There you will be able to see upcoming, pending, or past due payments. Click view details under a specific payment to see the timeline breakdown for when it was sent by the tenant, processed by their bank, processed by your bank, and deposited to you.
On your Payment activity dashboard, you can view the following tabs:
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If the current month's payment is in the Upcoming tab, it will have one of two statuses:
- Incomplete: This means your renter has not yet initiated the payment.
- Pending: This means that the payment is on the way. You will see the initiated date (the date the tenant made the payment) and the expected date (the date the payment is expected to be deposited into your bank account).
- If the current month's payment is in the Completed tab, this means that the payment is complete and you should see it deposited in your bank account.
- If the current month's payment is in the Past due tab, it means that the due date has passed and the tenant has either not initiated the payment, or the payment failed. If the payment failed, you will see a failed status under the payment amount.
1099-K form FAQ
| Question | Answer |
| What is a 1099-K form? | A 1099-K form is an informational return form that summarizes the activity of your account and helps you report your taxes. It is provided to you, the IRS, and some US states if the gross amount of total reportable payments you receive exceeds $5,000 AND there are more than 0 transactions. For more information, visit IRS.gov. |
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Why do I need to verify my information? |
Your Social Security Number, Taxpayer Identification Number, or Employer Identification Number are required fields on the 1099-K form and must be verified before we send you and the IRS your 1099-K. Your name and mailing address also need to be verified to ensure the accuracy of your 1099-K tax form and its delivery to the correct destination. If you don't have valid taxpayer details on file with Zillow, you will not be permitted to use the Zillow Rent Payments platform. |
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When and where can I expect my 1099 tax form? |
Form 1099-K will be finalized by January 31, 2024. If you meet the reporting thresholds (if 200+ rent payments made to you in 2023 exceeding an aggregate of $20,000), Stripe will send you a link to download a copy of your 1099 tax form. Alternatively, we can mail a paper form if you prefer. |
| What is considered a “reportable payment”? | Reportable payments include transactions settled through a third-party payment network. ALL payments received through the Zillow Rent Payments platform are reportable payments. IRS guidelines require the total gross amount of all payments received through the Zillow Rent Payments platform to be reported on Form 1099-K. |
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Who should I contact with questions regarding my 1099-K?? |
Contact your tax advisor with questions like:
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Stripe Express FAQ
| Question | Answer |
| What is Stripe Express? | Stripe Express is a service provided by Stripe, the payment processor used by the Zillow Payments platform. It facilitates the preparation and filing of your Form 1099-K. By confirming your tax information and setting up e-delivery with Stripe Express, you ensure that your 1099-K tax form is accurate and sent to the correct destination. |
| Which email address are Stripe Express invitations sent to? | A Stripe Express invitation will be sent to the email address you used when you first signed up to use the Zillow Rent Payments platform, even if you have updated your email address with Zillow later. If you haven't received an email from Stripe Express by the end of November, please check your spam/junk folder. Additionally, add express@stripe.com and support+express@stripe.com to your contact list before contacting Stripe Support. |
| Why haven’t I received a Stripe Express invitation? |
Check your spam or junk mail folder in case your invitation landed there. You might not receive an invitation if you did not receive 200+ gross payments totaling more than $20,000 USD, or if Stripe doesn’t have the correct email address on file. If you cannot locate the email, please submit a help request or email us at rentpayments@zillow.com. |
| Why is Stripe requesting personal information like my Social Security Number? |
Stripe requires your Social Security Number to properly file your 1099-K tax form with the IRS. If you have met the reporting threshold (if 200+ rent payments made to you in 2023 exceeding an aggregate of $20,000) that requires a Form 1099-K to be sent to you, the IRS requires your taxpayer information to be verified before filing the 1099-K. You can find the Stripe Privacy Policy here. |
| If I update my information through Stripe, will I also need to update my Zillow Rental Manager profile? |
No, as long as your information is verified through Stripe, no further action is required on your Zillow Rental Manager profile. |
How does my renter accept the new rent amount change?
When you request a new monthly rent amount, an email will be sent to your renter notifying them of the change, along with a link to be able to accept it.
The new rent amount will be reflected on your payment dashboard for the selected month's rent once the tenant accepts the rent change. If your renter does not accept the rent change before the next due date, any payment sent will be for the old amount.
If your renter does not see this email, or accidentally deletes it, they can also log into their payments hub to accept the new change directly on the website here: https://www.zillow.com/renter-hub/payments
Where can my renter go to make their rent payment?
First and foremost, renters must always be logged into the Zillow account associated with their payment plan and they can make payments towards their payment plans in 1 of 3 ways.
Renters can make a first payment towards their rent by using the link in the invitation email. Another method is directly through their payment dashboard with the link provided. The third way is through manual navigation to through the renters payment dashboard following the directions below:
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Hover above Rent
- Click Make a Payment
- Click Go to payments
- Click Pay now
In the event your renter is redirected to the See how to sign up page and does not see their payment dashboard using the provided links, they will need to log out of their account, refresh the page, and sign back in with the email they originally used to set up payments.
Renters are able to make a payment 10 days before the assigned due date, and any time after the due date has passed.
How are you keeping my bank account information safe?
We take the security of our users’ information seriously. We intentionally limit the amount of sensitive data we store, and we use multiple layers of security to keep your data safe. Additionally, we continually review and update our practices to stay on top of evolving threats.
Zillow does not store your bank account information. For more details on the types of information that Zillow stores, please see our Privacy Policy. For more information about how our third party payment processors store and use your financial information, see our Rental User Terms.
Why did my renter mark their payment as paid offline?
If your renter has made their payment through a different source, rather than through Zillow payments, they have the option to mark the payment as paid offline. This is so it no longer appears as past due in either your payments dashboard, or theirs.
If your renter clicked the button in error, have them contact support.
What do I do after my renter’s rent payment has failed?
If the system is unable to collect the payment it will notify the tenant and give them the option to retry. On your payment dashboard for the property in your Zillow Rental Manager account, we will also display a failed status. You will also receive an email alert from Zillow if the payment fails.
A renter's payment may fail for several reasons. The card they’re using may be expired, they may have insufficient funds, or it might be their first payment through Zillow and their bank doesn’t recognize Zillow so the bank won't allow the charge.
When a renter's payment fails, Zillow won't automatically retry the payment. Instead, the renter will need to make sure that their account has sufficient funds, or remove the block that prevented the payment from being initiated the first time, and retry the payment.
Important things to know about failed payments:
- Zillow never automatically re-tries a failed payment, so renters must make a new one-time payment to cover the payment that failed.
- Zillow does not charge any kind of NSF or failed payment fees. If your renter's payment fails, and they see an ‘NSF’ or ‘failed payment’ fee, they need to speak with their bank directly.
- Your renter will also be emailed notifying them of the failed payment, along with next steps to take.
What if the rent does not get deposited into my account?
Depending on your renter’s payment method, it can take 3-5 business days for financial institutions to process the payment and deposit it into your account.
You can view the status of your payments in your Zillow Rental Manager listing. Go to your Payments tab, and select View all payments. You will then be able to view your payment dashboard. Under the Upcoming tab, you can view the details of each processing payment.
If you encounter any problems receiving rent in your bank account please contact Zillow Rental Manager: rentpayments@zillow.com.
Can my renter make a late payment or pay ahead?
Renters are able to make a payment as early as 10 days before the assigned due date, or anytime after the due date has passed. If they need to make a payment before they are within 10 days of the due date, you will need to arrange payment offline, and not through Zillow. If your tenant has made their payment offline, they can mark the payment as paid in their payments hub to remove the past due status in their account, and yours.
Does Zillow offer lease agreements?
Yes! Zillow Rental Manager users can upload and e-sign a lease agreement for properties located anywhere in the nation. Zillow also offers a lease builder in select states, with more states being added each month. For a full list, visit this article: Where are leases available?
Visit our Leases FAQ section for more information.
I own more than one rental property. Can I use Zillow Rental Manager to collect payments for all my properties?
Yes, you can set up multiple properties and then check the details and payment status for each property individually.
Please note that at this time, landlords are only eligible to link one bank account to receive rental payments. If you update your bank account for one property, it will update for all properties you have set up payments for.
Can roommates pay separately or each pay a portion of the rent?
Our payment platform supports one tenant per Zillow Rental Manager listing. This tenant is able to make one rent payment each month, in the full monthly rent amount set by the landlord.
If multiple tenants in the same unit want to contribute to the payment, they can designate one tenant as the primary tenant who will make the full monthly rent payment. Any payments made between tenants will need to be arranged offline.
If you have multiple units at the same address, you can create a listing in your Zillow Rental Manager account for each unit. If you do this, please designate each unit with a unit number or letter. Then, you can set up rent payments individually for each unit under Manage tenants > Payments.
Do you report my rent payments to the IRS?
Only if our payment processing partner, Stripe, finds that they’re legally required to file a 1099-K form reporting your rent payments. If our partner does report your payments to the IRS, a copy of the 1099-K will be made available to you.
Is this feature available on the Zillow Rental Manager app?
Yes, rent payments are supported on the app for landlords. However this is not supported for renters at this time.
Are payments recurring or does the renter have to initiate payment each month?
Renters may make their payments one at a time or set up recurring monthly payments for the duration of the rent term. The monthly due date and the duration of the rent term are set by the landlord.
What if the payment is declined?
The system will try to collect the payment once. If the system is unable to collect the payment it will notify the tenant and give them the option to retry. On your payment dashboard for the property in your Zillow Rental Manager account, we will also display a failed status. You will also receive an email alert from Zillow if the payment fails.
How long will it take for the rent payment to be deposited into my account?
To view when a payment is expected to deposit into your account, and when your tenant initiated their payment, navigate to your payments dashboard. On your listing in Zillow Rental Manager, click the Payments tab then View all payments for additional details.
If a payment has been initiated by your renter, it will reflect as Processing and you can see the date the payment was initiated and when it is expected to deposit. Depending on their payment method, it can take 3-5 business days for financial institutions to process the payment and deposit it into your account.
Credit card and debit card payments are typically deposited within 3 business days after the payment is initiated, while ACH payments take 5 business days.
If it is your tenant’s first rent payment, it usually takes a few extra days (7-10 business days) to process and deposit to your account for security reasons.
Please be advised the deposit date on the payment dashboard and the email that was sent, shows the date that the payout was initiated to your bank. When a payout gets initiated, it takes one business day to be processed and deposited into the landlord's bank account.
*Processing time does not include weekends or holidays.
When I request a payment for something besides rent, what are my tenant’s payment options? Can they use a credit card?
Your tenant can pay using the same method they’ve chosen for their rent payments, whether that’s by credit/debit card or ACH transfer. If your tenant changes their payment method for one-time payments, it will also update their monthly rent payment method.
For more details on credit card payments, please refer to the article Can my renter pay by credit card?
How much does it cost to use online rent payments?
Online rent collection is currently free for landlords. Tenants pay nothing if using ACH. There is a 2.95% fee to use a credit card, and a $9.95 convenience fee on debit payments for rent charges such as monthly rent, deposits, and pro-rated months (or $4.95 for other rental charges)
What reminder emails do you send to my tenant?
We will send one payment reminder email to your tenant 5 days before your selected rent due date. We will send a second payment reminder email 2 days after your selected due date, reminding the tenant to pay their rent.
Can my tenant “overpay” or underpay and carry a balance?
The tenant is not able to adjust the payment amount. It is set by the landlord. They can only pay the requested amount.
How will my renter know when I request a payment for something besides rent?
We send your tenant an email notification anytime you use our service to ask for a one-time payment.
What is ACH?
Automated Clearing House. This is when a renter connects and pays directly from their bank account. There is currently no fee for renters and landlords who transact with ACH.