Rental Properties can Collect Rent Automatically from Tenants with ClearNow

Property management companies can now collect rent automatically from their tenants with ClearNow. Using the ACH payment network, ClearNow is the solution that is simple to set-up, easy to use, and extremely cost-effective.

FOR IMMEDIATE RELEASE:

CONTACT:
Ryowon Kim
ClearNow, Inc.
Tel: (919) 620-6674
Fax: (919) 620-6675
Ryowon@ClearNow.com
www.ClearNow.com

Durham, NC, August 27, 2001 -- ClearNow, Inc. announced today the general availability of its automatic rent collection service. It simplifies the process of electronically debiting rents from tenants bank accounts. Based in Durham, North Carolina, ClearNow, Inc. is a pioneer in easy-to-administer Web-based Automated Clearing House (ACH) payment solutions for the rental housing market.

With ClearNow, property managers and owners can achieve all the benefits of automatic rent collection -- (1) increased tenant convenience, (2) a reduction in late payments, and (3) time savings -- without the administrative and technical complexities involved when dealing with the ACH payment network.

The ACH payment network is by far the most cost-effective and trusted way to electronically transfer rent from a tenants checking account to his/her property companys checking account," said Justin Yung, Vice President of ClearNow, Inc. Compared to credit cards which bill on a percentage basis, ACH payments are significantly less expensive and are billed on a flat-fee basis."

Until now, using the ACH payment network has required the extensive set-up and learning of ACH software. Today with ClearNow, the whole process has been dramatically simplified. With ClearNow, there is no complicated software for the property manager to install and learn. And, property managers do not have to remember to transmit files back and forth with a bank every month. Using ClearNow, the property manager simply inputs the rent amount and lease expiration date for an enrolled tenant in the property managers online ClearNow account. Each month, ClearNow automatically handles the fund transfer."

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