HOAs and condos can make pre-authorized debit payments using CCC and Rotessa

Date Published : Jul-10-2020

Written By : Phillip Livingston

Exciting news! We’ve partnered with Rotessa to simplify online payments for condos and HOAs. Through this partnership, we offer residential communities more convenience, and reduce costs for corporations. This new partnership allows residents to make payments from their chequing or savings account while maintaining their current credit option.

What is Rotessa? 

Rotessa is an online payment processing company that handles pre-authorized bank payments. With Rotessa, residents can pay monthly fees or make one-time purchases through pre-authorized debit (PAD) debit payments, ACH, or EFTs (electronic funds transfers). 

Rotessa can process payments from Canadian and American bank accounts. 

They have established a reputation for being trustworthy, reliable and supportive, which is exactly why we thought our clients would appreciate Rotessa. 

Since 2010, Rotessa has processed over 1.5 million transactions worth over $500 million.  They have provided a successful payment solution to over 2,000 businesses across Canada and the US.

Using Rotessa in Condo Control Central 

There isn’t much of a learning curve when it comes to using Rotessa in Condo Control Central. It is so easy to learn! 

Management begins by creating an account with Rotessa. Once they’re set up, they can make Rotessa available to residents from the back end of CCC through the Payment Setup feature.

Residents don’t have to do anything differently when making a payment through Rotessa. However, they will notice that they have the option to pay for monthly condo or HOA fees, rent, violation fines, and other items through credit or using PAD/EFTs with Rotessa. They can also create a recurring payment and authorize Rotessa to take that regular payment out of their account.    

This integration is beneficial to residents, property managers, board members, and ultimately, the corporation or association. That’s because:  

  • Rotessa allows corporations to process PAD/EFTs quickly and securely
  • It fully integrates with online payments
  • Funds are deposited into the corporation’s bank account within 5 days
  • The fee for using Rotessa in CCC is a flat fee of $2 per transaction  
  • There is no setup fee, and no monthly fees

 

A few good reasons why it’s better for condos and HOAs to accept online debit payments

There are several reasons why residential communities enjoy having the option to pay with debit, ACH, or bank payments. 

 

Cheaper to process than credit cards

Credit cards can charge roughly 3% in processing fees for every transaction. That may seem insignificant, but if you’re collecting multiple payments from 100 or more residents each month, the processing fee costs really add up, especially if residents are making large payments. 

Conversely, Rotessa charges a flat fee of $2 per transaction, no matter how much money is being processed. This processing fee system can end up saving the corporation hundreds of dollars each month.

Management doesn’t have to worry about depositing so many cheques 

Cash and cheques must be collected, stored in a safe spot, and deposited into the corporation’s bank account. This is a tedious and potentially risky process. Plus, if residents need proof of payment, you have to do additional work to ensure both of you have a receipt for the payment that was made. Imagine what you could do if you didn’t have to spend so much time doing all of this grunt work. 

When debit payments are made through CCC, management ends up doing far less work. Payments are processed automatically, and residents can see detailed records of every payment they’ve made through their CCC account. They can always see when payments were made, and how much was taken from their account. Online payments are more secure, and provide more transparency than an envelope full of cash.  

 

Online debit payments are great for record-keeping 

Speaking of transparency, it’s so much easier to find past payment records, or even analyze payments, when you’ve got all the data you need in one centralized location.  

We’ve made it easy for admins to keep electronic records of online debit payments. Instead of shuffling through folders or stacks of paper, and rather than crunching the numbers yourself, CCC sorts and compiles the information for you. You can even run reports on online payments to see how much the corporation is making from amenity bookings, or how many units are using pre-authorized payments to cover their monthly fees.

Why Rotessa works for board members and property managers 

Rotessa removes friction from the online payment process. You spend less time chasing down payments, and you receive more payments on time. 

You don’t have to collect banking information from your residents either. Instead, the resident makes the decision to provide their information to you. Rotessa does the heavy lifting for you, so you have more time to take care of other important tasks.  

Why Rotessa works for residents

Residents are provided with additional convenience and control. They can make online payments from their CCC account, or even their phone if they have the CCC mobile app. This is a lot easier than taking out cash or writing a cheque, and residents don’t have to worry about leaving work early to make office hours, or finding concierge when they need to make a payment. 

Residents can make a one-time payment for something like a party room booking, or they can elect to set up a recurring payment for rent. When they do this, they never have to worry about making that payment on time; the funds are automatically withdrawn from their account on a certain date each month.

Before completing a payment, residents can also see details about the total costs before they agree to making the payment. 

Once a payment has been made, they will see a payment confirmation on the screen, and they will also receive an email notification verifying that the payment has been made. Residents can also view every payment they’ve made through their CCC account.   

Conclusion  

Condo Control Central has integrated with Rotessa to offer more flexibility to condos and HOAs when it comes to online payments. Residents can pay for amenity bookings, store purchases, or set up recurring payments using pre-authorized debit, and management doesn’t have to make so many trips to the bank. Money moves faster, and more securely.  

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