Pre-Authorized Debit (PAD)

• Payments·Pre-Authorized Debit (PAD)

  How does pre-authorized debit rent collection actually work?

  On the first of each month Kompas invoices every active lease according to its terms, then debits each tenant enrolled in pre-authorized debit for the rent owing. By the time you get to the office on the first, the charges are posted, the payments are collected and deposited, and your receivables are updated. The team calls this the FOM run, for First of Month. Nothing has to be keyed in, and nothing waits for someone to remember to trigger it.

• Payments·Pre-Authorized Debit (PAD)

  How long does it take for rent money to land in my bank account?

  All EFT payments settle same day, and Interac e-Transfers settle the same day they are mapped to a lease. That means rent collected through a first-of-month pre-authorized debit run is in your account that day rather than sitting in a processor's holding period for several business days. Because settlement and reconciliation are the same event in Kompas, the deposit shows against the tenant's ledger as of the settlement date without anyone matching it by hand.

• Payments·Pre-Authorized Debit (PAD)

  Do my tenants have to use pre-authorized debit?

  No — pre-authorized debit is encouraged for the automation and time it saves, but it is never mandatory. Tenants who do not want to enrol can pay by Interac e-Transfer, or pay off the platform entirely and have you post a manual deposit against their ledger. Enrolment is set per lease, not portfolio-wide, so you can have five tenants on pre-authorized debit and ten paying another way in the same building without any special handling.

• Payments·Pre-Authorized Debit (PAD)

  Can I run a one-off pre-authorized debit pull outside the monthly cycle?

  Yes — Kompas has a manual pre-authorized debit pull that lets you schedule and collect a charge outside the regular first-of-month run. It is the tool for a mid-month arrears catch-up, a prorated first month, a one-time charge added to a lease, or a payment plan a tenant has agreed to. The pull posts against the tenant ledger the same way an automated collection does, so nothing has to be reconciled separately afterward.

• Payments·Pre-Authorized Debit (PAD)

  Does moving to online payments mean changing how my tenants pay?

  Only for the tenants you want to move. Adoption happens lease by lease, so you can invite tenants onto pre-authorized debit gradually, point others at your Interac e-Transfer address, and leave the rest paying exactly as they do today with a manual deposit posted. The savings scale with adoption rather than requiring it, which is why most operators start with new leases and renewals instead of a portfolio-wide switch.