Frequently asked questions
What is Sunbound Pay and how does it work?
Sunbound Pay is a flexible rent product that allows residents and their families to pay for their rent on their schedule within the month.
After enrolling with Sunbound, we automatically make your rent payment directly to your senior living community when it’s due each month. Then, you pay us back in one or more installments within the month.
There are no interest rates or late fees for using Sunbound. Sunbound services are offered for a monthly membership fee of $19.99 a month. Sunbound also charges a payment processing fee of 1% of the monthly rent payment, based on each repayment made. For example, if your rent is $1,000, the processing fee will be $10.
You can set up your flexible payment plan to be recurring each month, or otherwise you will need to notify Sunbound by the 5th day of each calendar month that you want to use Sunbound to pay your rent that month.
How much does Sunbound Pay cost?
Sunbound services are offered for a monthly membership fee of $19.99 a month. Sunbound also charges a payment processing fee of 1% of the monthly rent payment, based on each repayment made. For example, if your rent is $1,000, the processing fee will be $10.
How does the Sunbound monthly membership fee works?
Sunbound charges a monthly membership fee as a subscription service. That means you will be charged the monthly membership fee each month for your ability to access Sunbound Pay.
The monthly membership fee does not vary based on whether you use the Sunbound Pay. The Sunbound membership auto-renews each month unless you cancel your membership no fewer than 5 days prior to the end of the preceding month.
How is the payment processing fee calculated?
For each month you use Sunbound to pay your rent, we will charge you a payment processing fee equal to 1.00% of your monthly rent payment amount.
For example, if your rent amount is $1,000, the payment processing fee is $10 ($1,000 * 0.01). The payment processing fee is payable to Sunbound and assessed on each repayment made to Sunbound. If your rent is $1,000 and you make two payments, the total payment processing fee would still be $10 in total.
How do I know if I’m eligible to apply?
Sunbound can be signed up for at lease signing or mid-lease at an approved partner property.
Sunbound is built for families to help pay for their loved one’s care, so either the resident themselves or family members that help manage their payments can sign up.
There are certain main criteria for eligibility:
- Residents must be current on their community rent and not on a payment plan
- For new residents, their lease start must be in <30 days
For the primary individual who is paying for the resident (either the resident themselves or a family member), Sunbound will further evaluate your eligibility using a variety of criteria including your credit report information, your banking information and other information about your payment history. Generally, individuals with fair or better credit, with sufficient deposits and average bank balance will qualify for Sunbound.
I’m a family member who pays for the resident’s care, can I still sign up?
Yes! Sunbound is built for families to help pay for their loved one’s care, so either the resident themselves or family members that help manage their payments can sign up.
There is one individual with admin access per resident, but if you have other family members as well that are involved in the resident’s care, they can access a Sunbound account to view the resident’s monthly statements and help make payments.
I split my payments with multiple individuals, can I still use Sunbound?
Absolutely! In fact, most residents in senior living communities have multiple family members that help them manage and make their payments in addition to directly financially contributing.
After you set up your Sunbound account, you can specify if you want to split the rent payment with any other family members and the amount each should pay. They will then receive a separate link to sign up.
Am I charged extra fees for splitting my payment?
No. There are no added fees or expenses for splitting your payment. The monthly membership charge is charged solely to the primary admin on the account and then the payment processing fee is split between users.
For example, if your rent is $1,000, the total payment processing fee charged would be $10. If you split that payment equally so you and a family member each pay $500 ($1000 divided by 2), each of you would pay a $5 payment processing fee ($500 times 0.01).
If I want other family members to help pay, do they also have to go through the verification process?
No, other family members or individuals you split payments with do not have to go through the onboarding process.
As long as the primary payor on the account (either the resident themselves or the primary decision-maker) is eligible and verified, all others can use Sunbound simply by creating an account through a sign up link. Other family members will also be able to view the resident’s monthly statements and help make payments all through the same portal.
Does Sunbound cover utilities and care costs too, or just rent?
Yes! Sunbound will update your rent payment each month to cover the amount posted to your existing online rent portal. Sunbound covers rent, utilities, care charges and any other monthly fees you or your loved one are charged in the month. As long as your community bundles these charges in the rent portal amount, this will be covered by Sunbound.
Sunbound works directly with your community so we know if your monthly charges change automatically. Sunbound automatically updates the amount payment we cover for you based on this and know that the charges naturally vary each month.
However, if you expect your all-in rent amount (including care charges) goes up or down by more than 10% in any month, please contact us.
I have a past due rent on my portal, will Sunbound still cover my upcoming rent?
No, you must pay your total due in full each month or you will be unable to utilize Sunbound to pay your rent in the following month. Sunbound cannot cover your rent in a new month if you have a past due rent amount from a previous month.
If your rent portal has an overdue balance from a previous month(s), Sunbound will be unable to cover the new month's rent unless your past due balance is paid by the 3rd of the month.
Does Sunbound have a customer support number?
Yes, there is always a real Sunbound employee standing by to help answer any questions you may have. Our phone number is 623-232-8897.
You can always email us as well at help@sunboundpay.com with any questions and issues that need to be solved.
Our hours of operation are Monday through Sunday between 9am - 7pm EST. We generally respond to all inbound requests within 24 hours if you call or email outside of normal business hours.
What are Sunbound’s support team hours of operations?
Our hours of operation are Monday through Sunday between 9am - 7pm EST.
We generally respond to all inbound requests within 24 hours if you call or email outside of normal business hours.
When can I start paying rent with Sunbound?
If you’re applying on or before the 25th of the month you will be enrolled for the upcoming month if you are approved. If you apply after the 25th, you’ll be enrolled for the following month. When you submit your application you will receive a confirmation of your start date.
