Tenants can now pay rent online
A new service has been set up which allows tenants to pay for their rent online using a credit card. The RentExpress service was established after it was shown in the 2003 National Landlords Survey that, 86.6% of all landlords claimed non payment of rent as their biggest concerns.
Wednesday, December 3rd 2008, 12:00AM
by The Landlord
Payment options for tenants is fragmented with options ranging from the most favourable, being automatic payments, through to cash and cheque.
"However, no one was offering a secure and convenient credit card payment option.”
With the new service tenants register their details for free, enter the property and landlord details and select the option of either making a one off payment or setting up a recurring payment schedule from their credit card.
The service is free for landlords and property managers. Tenants are charged a fee to use the service which is calculated as a percentage of the total rent amount being paid.
“The concept is not a new one with many organisations globally offering credit card payment platforms for tenants. RentExpress however, is the first organisation in New Zealand to introduce the concept,” the company says.
In New Zealand 80% of the rental properties are managed privately by landlords. The service is targeted at this group as it offers a credit card payment solution that is “free, robust and very easy for their tenants to use.”
“It would be unrealistic and cost prohibitive for a private landlord to get a merchant account to accept credit card payments, this is one important area where RentExpress adds considerable value.
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