Leasing built for terms that are not twelve months

Three terms in one system: hourly, nightly, monthly

Parqay supports three billing terms: hourly, nightly or daily, and monthly. Every space you manage, from a parking stall to a guest suite to a month-to-month apartment, bills on one of those three clocks inside the same account, posting to the same built-in ledger.

That matters because most property software assumes every dollar arrives on the first of the month. Real properties do not work that way. A building can earn by the hour on its parking, by the night on a guest suite, and by the month on its apartments, and you should not need three tools to see it.

To be direct about the limits: Parqay does not offer weekly or annual billing intervals. A one-week stay is priced and billed nightly. A one-year agreement is billed monthly. If your operation depends on a true weekly rent cycle, Parqay is not built for that.

Month-to-month leases without the paperwork drag

A month-to-month lease runs end to end on Parqay: the tenant applies through a digital rental application, both parties e-sign the lease, Parqay generates the lease PDF, and rent collects monthly from then on. Each signature records the signer's name, IP address, and timestamp, so the executed document stands on its own.

Rent collection works the way tenants expect. They pay by ACH bank transfer through Stripe Financial Connections, linking their bank account once, or by card, and they control their own autopay toggle in the tenant portal. 3DS and SCA are handled for you.

Late fees are deliberately narrow. A fee applies only when an autopay charge fails and the rent stays unpaid: a flat amount or a percentage of rent, whichever is higher, applied once per billing period, with the tenant notified. Nothing fires behind your back.

One honest note on renewals: they are handled manually. When a fixed term ends, you decide what happens next and set it up yourself. Parqay does not auto-renew leases or generate state-specific templates.

Longer stays run on monthly billing

A six-month or twelve-month agreement on Parqay is billed as a monthly subscription. Your e-signed lease can state any term the parties agree to, but the money moves month by month. There is no single annual charge and no annual billing interval, and we think that is the right default: monthly billing keeps disputes small, refunds clean, and cash flow predictable.

Security deposits follow the same discipline. The deposit is collected up front before move-in, held on the platform until move-out, and refunded in one step against the original payment, with guards that prevent double refunds.

Every one of those movements, rent, deposit, booking, refund, posts automatically to Parqay's built-in double-entry ledger, so a flexible term never turns into a bookkeeping mystery.

Pay in full up front, paid out monthly

For longer stays, Parqay offers a pay-in-full option at checkout: the guest or tenant pays the entire stay up front, and the host is paid out in monthly installments over the course of the stay. The booking is locked in from day one, and the host's cash flow looks exactly like monthly billing.

This is the rare arrangement that helps both sides. The person booking removes any monthly payment risk from their stay, and the host gets a fully committed term without fronting trust to a stranger's future card charges. Parqay holds the funds and releases them on schedule.

Hosts are paid through Stripe Connect on every term, hourly through monthly. Parqay's business model is simple: a percentage of marketplace bookings plus a small guest service fee, so we only do well when your spaces are earning.

Parking and coworking next to your residential leases

Parking spaces, guest suites and stays, and coworking desks or private offices live in the same Parqay account as your month-to-month residential leases, with one ledger behind all of it. Those are the space types Parqay monetizes: parking (reserved, guest, or unassigned), stays, and coworking. We do not currently support booking storage units, EV chargers, or amenity rooms.

The difference from ordinary property software is that Parqay does not just manage these spaces, it fills them. Listings get search and instant booking on the Parqay marketplace, an SMS concierge on a real phone number that answers inquiries and sends booking links, automatic Craigslist posting for parking listings, and city landing pages that bring in local demand.

That is the point of putting every term in one system. A parking stall earning by the hour and an apartment earning by the month are both net operating income. Parqay is the only property management platform with a built-in demand marketplace, so it does not just track NOI, it grows it.

What flexible leasing on Parqay does not include

Parqay's terms are hourly, nightly or daily, and monthly, and nothing else. We would rather tell you the edges now than let you find them after you have moved your portfolio in.

If any of the items below is a dealbreaker, talk to us before you sign up and we will tell you honestly whether Parqay fits.

Frequently asked questions

Does Parqay support weekly billing?

No. Parqay bills on three terms: hourly, nightly or daily, and monthly. A week-long stay is priced and billed nightly. If your operation depends on a true weekly rent interval, Parqay is not a fit for that arrangement.

How does Parqay handle a twelve-month lease?

As monthly billing. Your e-signed lease can state a twelve-month term, but rent is collected month by month through a subscription. There is no single annual charge, and when the term ends, renewals are handled manually by you.

What is the pay-in-full option for longer stays?

At checkout, a guest or tenant on a longer stay can pay the entire stay up front. Parqay holds the funds and pays the host in monthly installments over the stay, so the booking is fully committed from day one while the host's cash flow matches monthly billing.

Are Parqay's lease documents state-specific?

No. Parqay generates a lease PDF and records each signer's name, IP address, and timestamp, but it does not maintain state-by-state legal templates. Bring your own lease terms and have them reviewed by counsel for your jurisdiction.

How do tenants pay rent on flexible terms?

By ACH bank transfer or card, both through Stripe. Tenants link their bank account once through Stripe Financial Connections, and they control their own autopay toggle in the tenant portal. 3DS and SCA are handled automatically.

Which spaces can be booked hourly?

Parking spaces and coworking desks or private offices book by the hour. Stays and guest suites book nightly or monthly. Parqay's bookable space types are parking, stays and guest suites, and coworking; storage units, EV chargers, and amenity rooms are not supported.

How are security deposits handled on shorter terms?

The same way as on any lease: collected up front before move-in, held on the platform until move-out, then refunded in one step against the original payment, with guards that prevent double refunds.

Do late fees apply automatically on month-to-month leases?

Only in one case: when an autopay charge fails and the rent stays unpaid. The fee is a flat amount or a percentage of rent, whichever is higher, applied once per billing period, and the tenant is notified. There is no broader late-fee automation.