Alcove automates rent collection and handles payouts end-to-end, so you don’t have to chase individual tenant payments (Learn more about Alcove's rent collection process)
How payouts work:
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You’re paid per bedroom, as each room is leased and tenants move in.
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Payments are proportional to the number of rooms that are leased, which means you can start monetizing your property immediately as rooms fill.
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All payouts are deposited directly to your connected bank account.
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No more disparate tenant payments (paper checks, Venmo, Zelle, etc.).
How to connect your bank account (via Stripe)
Alcove uses Stripe as our payments and compliance partner. To receive payouts, you’ll need to connect your bank account through Stripe.
To connect Stripe:
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Log into your Alcove Manager Portal
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Click the top-right corner → Connect automatic payments (or visit this link)
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You’ll be guided through the Stripe Connect setup flow
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Follow the prompts to add your bank account and complete verification
Things to note during Stripe setup:
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Stripe requires a valid website URL. If you’re an individual landlord or broker without a website, you can simply use alcoverooms.com
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You can connect your bank via manual ACH entry (you do not need to use a username/password bank login).
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Stripe may request additional verification (e.g., micro-deposits or documentation).
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If you have questions during setup, Stripe Support is the fastest resource for Stripe-specific issues. You can also reach us at partner@alcoverooms.com, though some Stripe-specific verification steps need to be handled directly with Stripe.
- Under Payouts, make sure to set Payout schedule to 'Automatic' rather than 'Manual' to have Stripe automatically send funds to your bank account once they are paid
Do I have to use Stripe? Can I get paid directly without Stripe?
Yes, at this time. All payouts on Alcove must go through Stripe and unfortunately we can’t support direct, non-Stripe payouts. Stripe is our compliance and payments partner, and is required for regulatory and security reasons. Stripe is also the same platform used by many large marketplaces, including Amazon, Uber, Airbnb, and others.
That said, Alcove covers all Stripe payout and ACH processing fees for landlords, so there is no cost to landlords for using Stripe.
Tenants only pay fees if they choose to pay by credit card, and if tenants pay via ACH (which most do), Alcove covers Stripe’s ACH processing cost.
Tracking your payments
You can track all payouts, dates, amounts, and line-item breakdowns directly in your Alcove Manager Portal under your Ledger & Payments Page. This includes rent, adjustments, reimbursements, charges for vendor marketplace services, any credits etc.
Ledger & Payments Page on Alcove
Haven’t connected Stripe yet by your first payout?
No worries. If you haven’t connected your Stripe account before your first payout, everything will be tracked in your ledger, and once Stripe is connected, all payouts will be processed retroactively.
If you have any questions or need help along the way, feel free to reach out to us at partner@alcoverooms.com.