RentMoola will process a refund to reimburse a tenant for a payment made to the property manager upon receipt of a written request from the property manager who received payment. To request a refund, a tenant must contact their property manager who will then provide RentMoola with written instructions to process the refund. RentMoola does not process any refund requests received directly from tenants. RentMoola does not hold any funds, the system simply processes payments between tenants and their property manager. Refunds can only be for the original transaction amount or less.
The property manager must provide RentMoola with the following information to process a refund:
- Tenant first and last name
- Tenant email address associated with the RentMoola account
- Date of transaction
- Amount of transaction
- Amount of refund (if Partial)
- 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 and funds returned to the same bank account from which they were received. 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. Funds can only be returned to the same credit card.
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. Refund requests that are received after the 10th business day, they will be processed the following month.
RentMoola cannot refund any payments made in cash through our In-Store Cash method at participating locations in Canada and the U.S. Tenants must contact their property manager to arrange for a refund.
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.
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