How does rent collection work?
Rent is collected by Bacs Direct Debit into your own Stripe account — you connect a payout account once, your tenant authorises a mandate once.
Three one-off setup steps, then it runs:
- You connect a payout account. Tenarize creates a Stripe account in your name and you complete a short onboarding form — your identity or company details, and the bank account you want rent paid into.
- Your tenant authorises a Direct Debit. From their portal they're sent to Stripe's own hosted page to enter their sort code and account number and set up a Bacs Direct Debit mandate under the Direct Debit Guarantee.
- Rent is charged — either by your tenant pressing 'Pay rent now', or automatically each month if they've switched auto-pay on.
The charge is created directly on your own Stripe account. You are the merchant of record, the money settles into your balance and pays out to your bank on Stripe's schedule. Tenarize takes no percentage of rent.
Worth knowing: Rent collection also needs an active Tenarize plan — see what a lapsed subscription does.
Related answers
More in Collecting rent
- What does Tenarize charge me to collect rent?
- What details do I have to give to set up rent collection?
- How long does a rent payment take to arrive?
- Can rent be collected automatically every month?
- A rent payment failed. What happens?
- How do I see who is behind on rent right now?
- Can I charge interest on late rent?
- Can I let a tenant off an accrued late payment charge?
- What happens if a tenant reverses a rent payment?
- What does the rent payment look like on my tenant's bank statement?
- Can I get a rent statement for my accountant?
Not legal advice
These answers describe how Tenarize works and summarise the law in England as the product implements it. They are not legal advice about your situation, and the law changes. For free independent help, Citizens Advice and Shelter both cover renting in England; for anything unusual or contested, take advice from a solicitor.
Tenarize does not currently support Scotland, Wales or Northern Ireland, whose tenancy regimes are different.