RentMoola will process a refund to reimburse a tenant for a payment made to the property manager only upon receiving a written refund request from the property manager. Any tenant refund requests should be directed to the property manager who will then contact RentMoola. RentMoola cannot process any refund requests received directly from tenants. Refund may be for the original transaction amount or less. RentMoola does not hold anyone funds, the system simply processes payments between tenants and their property manager.
RentMoola requires the following information from the property manager to process a tenant refund:
- Tenant first and last name
- Tenant email address associated with the RentMoola account
- Date of transaction
- Amount of transaction
- Transaction number
- Reason for refund (moved out, overpaid, etc)
Bank Account refunds can only be processed 5 business days after the date of the original transaction. This is due to bank processing times. The property manager needs to confirm receipt of the funds from the original transaction before a refund can be processed. Once the refund is processed, it will take up to five business days (different banks have different processing times) for the funds to be back in a tenant’s bank account.
Credit card refunds can be processed 1 business day after the date of the original transaction. Once the refund is processed, it will take up to 5 business days for the credit to appear on your credit card account.
Pre-Authorized Debit (PAD) refunds can only be processed once a month on the 11th business day. Property Managers have until the 10th business day to submit their refund requests. The refund requests come after the 10th business day, they will have to wait until the next month.
RentMoola bears no responsibility for overpayments, continued payments after a lease ends, in the case of a move-out, or for accidental payments made by the tenant. RentMoola can issue a refund to the original payment method up to 1 year after the original transaction date.
Note: At no point in time does RentMoola hold any funds.
Have more questions? Feel free to email us at firstname.lastname@example.org