Landlord Rent Payouts: How You Get Paid as a CoRent Host

Landlord rent payouts on CoRent work from one simple rule: you keep 95% of the rent collected, and CoRent's platform fee is 5%. There is no booking fee and no management fee. This post walks through how the money is counted from the renter's payment to your records, and what to ask about timing before your first tenant pays.

How landlord rent payouts are calculated

Start with what the renter pays. Each renter picks weekly or monthly rent when they book, and autopay charges on the same day each week or month. Rent is paid by card or bank account.

CoRent takes a flat 5% platform fee on rent collected. You keep the other 95%. Listing your rooms is free, and CoRent does not charge a booking fee on new tenants or a management fee. You run your houses in the app.

Here is a simple example. These numbers are an example only, not a promise of what you will earn. If one room rents for $650 a month, 5% of that is $32.50, and 95% is $617.50. If you rent several rooms, run the same math room by room and add them up.

For a worked example across a whole house, read how CoRent's 5% fee works.

Who pays the processing fees

Every rent payment carries a processing fee, and the renter pays it. The renter sees the exact fee at checkout, before paying. Card payments cost more than bank payments.

There is one exception that touches your side. When a renter pays a full month at a time by bank account, the renter's fee is waived and the host covers the bank cost: 0.8%, up to $5 per room per month.

Here is that in example numbers. On a $650 room, 0.8% would be $5.20. Because the cap is $5, the bank cost would be $5 for that room that month. On a house with several rooms, it is up to $5 per room.

You can read more on the fees page.

What your payout records should show, and when to ask about timing

Records to keep

Whatever the payout schedule, you want records you can reconcile. Keep a simple monthly record for each room:

• The rent due and the rent collected
• The 5% platform fee
• Any bank cost you covered on full-month bank payments
• Utilities, if you share them with tenants in the app
• The date and amount that reached your account

If the amounts do not match, check the pieces in that order. Most differences come from a partial month, a late payment or a room that changed tenants mid-month. A move-in date midway through the month means a partial month of rent, so that room's numbers will look lower than the full figure.

The host page also shows an example house with a platform fee of $228 a month on $4,550 in monthly rent. The example is an illustration with its own assumptions, not a forecast. Your numbers depend on your rooms, your rents and how often rooms turn over. See the host calculator for the full example.

Ask about timing before the first tenant pays

CoRent's public pages do not state a payout schedule or a payout method, so this post does not quote one. That is a deliberate choice: you should get timing from CoRent directly rather than from a blog post.

Before your first tenant pays, ask these questions inside the app or at support@corent.ai:

• When does rent that a renter pays reach my account?
• Which account does it go to, and how do I change it?
• How do I see each payment and its fees in one place?
• What happens if a renter's payment fails?

Write the answers down next to your lease dates. If you budget around a mortgage payment on the first of the month, timing matters. Do not plan your bills around a date you have not confirmed.

Rent is income: keep records and talk to a pro

What the IRS says

Rent you collect is income. The IRS explains in Topic 414 that rental income is taxable, that advance rent counts as income in the year you receive it, and that real estate rental income and expenses generally go on Schedule E. It also says expenses such as repairs and other operating costs are generally deductible, with limits.

How that applies to you depends on your situation. A licensed accountant can tell you how to report rent, fees and expenses. CoRent does not give tax, legal or financial advice.

Good records make that conversation short. Keep a monthly summary, keep the platform fee line separate from your other costs, and save your receipts for repairs and supplies.

Ready to list your rooms

If you have a house and spare rooms, you can create a free host account and list each room. Read the step-by-step guide to renting rooms in your house on CoRent first if you want the whole process in one place. CoRent serves Richmond, Petersburg and Colonial Heights, Virginia.

Frequently asked questions

How much of the rent do I keep?

You keep 95% of the rent collected. CoRent's platform fee is a flat 5%, with no booking fee and no management fee.

Who pays the processing fee on rent?

The renter pays a processing fee on each payment and sees it at checkout. When a renter pays a full month by bank account, the renter's fee is waived and the host covers the bank cost of 0.8%, up to $5 per room per month.

When will my payout arrive?

CoRent's public pages do not state a payout schedule. Ask in the app or at support@corent.ai, and confirm the timing before you plan your bills around it.