The first month of rent is transferred to your primary payout method by the first day of the lease. There is a twenty-four hour grace period in which the renter can notify Flip that something is wrong with the rental and get a refund. For more on this read about the Flip Listing Guarantee.
One to two day buffer
There is a 1-2 day window that allows us to look out for any fraudulent activity and keep all listers and renters safe. This means that if your lease starts on a Tuesday you will see the rent money in your account on Thursday.
For any future rent payments after the first month you can make sure that you get the rent on the first day of the month by asking your renter to setup automated payments that are initiated 2-3 days before the end of the month.
Credit card versus ACH payouts
Payout times differ a little depending if your tenant paid with rent with ACH or a credit card.
Credit card payments take 1-2 days:
The quickest way to receive funds is to have your tenant pay with a credit card. The funds will be recognized immediately and arrive in your account within the 1-2 day window mentioned above.
There may be an additional 5 day wait with ACH:
If your tenant pays rent with ACH then we require 5 days to verify that the funds are actually in their account. This won't affect you if you sign your lease and your tenant puts rent into escrow more than five days before the lease is set to start. In this case you will get your rent on the same timeline as if they had used a credit card.
The only time it affects you is if your tenant paid the rent less than five days before the start of the lease. If a lease starts on June 1st, for example, and they put rent money into escrow on May 31st then there will be a required window of 5 days to verify that the funds are actually in their account. Once that is verified then you will see the funds in your account within the same 1-2 day window, so you will have the money on June 6th or June 7th.