What you need to be able to track rent with Canopy:
- A current renting address with a tenancy agreement in place. You need to be paying rent in order to track rental payments, we cannot accept private contributions agreements.
- An active Open Banking connection on your RentPassport™. For more information on Open Banking, please click here.
For RentTracking™ to work effectively the rent needs:
- To be paid regularly. Our system can pick up payments made within +/- 5 days. Anything outside of this will be considered late or missed.
- A similar amount for every payment. If payments are not a regular amount the system may pick them up as rental arrears or missed payments.
- Have a consistent transaction ID. As this is tracked using Open Banking we pick up payments with their reference ID as well as the amount, if this changes drastically on each payment we may not be able to track this as your rent payment.
- Setting up your RentTracking™ in the app works better than a web browser as most people have their phones connected with their banking app. This makes setting up with Open Banking smoother.
- If your bank account is a joint account, unfortunately only 1 of the account holders will be able to connect via Open Banking on their RentPassport™ and use the RentTracking™ service.
- RentTracking™ cannot be backdated nor previous tenancies added to your RentTracking™.
- If you have only paid your first rent and this includes your deposit, please set up your RentTracking™ the following month in order to track the correct amount. The rent amount is not adjustable.
For steps on how to set up your RentTracking™, click here.