In general, rent payouts will arrive in your default payout account 6-10 business days after your renter makes their rent payment. You can check your rent payout status from your Listing Dashboard under the Tenants tab.
Rent payout timeline
Verifying your renter's payment
When your renter makes a rent payment on Flip, we verify that the payment is successful before sending a rent payout to you. You'll see the rent payment marked as Pending until it is verified.
The verification process takes less than a minute for card payments (note that your renter will incur a 2.95% fee for any card payment). For ACH (bank account) payments, the verification process takes 5 business days.
Sending a payout to you
Once the rent payment is verified, it will appear as Completed or Succeeded. A rent payout will arrive in your default payout account in 2-3 business days.
First month of rent
If your lease hasn't started yet, your first payout will arrive 4-5 business days after the start of your lease. If your renter makes their first rent payment less than 5 business days prior to the start of your lease, your rent payout may be delayed by an additional 5 business days.
Keep in mind that renter's may file a Listing Guarantee claim within 24 hours of the start of the lease.
Automated rent payments
For any future rent payments, you can ask your renter to setup automated payments so that they get automatically billed each month.
Failed rent payments
If the status of a rent payment changes from Pending to Failed, this means that we were unable to withdraw your renter's payment from their bank account. This can happen for a variety of reasons related to your renter's bank account, though it is typically due to insufficient balance. Your renter will need to re-attempt their payment.