Rent Now comes with an ongoing rent collection service. You can opt into using the service when you issue the contract or at a later stage during the tenancy.
How Does It Work?
We provide tenants with bank details, and they pay their rent to that account. As soon as the rent hits our account, we instantly notify you and the payment is sent to you the same working day. You can check, and update, the bank account we send the rent to through your account.
What Are The Benefits?
There's no holding period. When the rent hits our account, we instantly notify you and transfer the funds to you the same working day.
We'll send you a brief confirmation email with each payment we make to you, so your records are up-to-date without you needing to check your bank. You will also have a full record of all payments received which you can download, if necessary.
What If My Tenant Is Late Paying Or Doesn't Pay?
If your tenant is late on rent, we'll notify you automatically, and chase the tenant on your behalf. Please note that we won't automatically chase arrears that were accrued before Rent Collection was enabled. However, if you would like us to help with previous arrears then you can use the "add a charge" button to log any outstanding amounts. We will then remind tenants about the outstanding balance until it has been settled in full.
If, for whatever reason, your tenant stops paying, we have legal partners who will be happy to help.
The rent collection service for ongoing rent payments is completely optional. You don't need to use it if you'd rather get paid directly, and you can opt out at any point.