The Idea Behind Rent-On-Time
Rent Arrears
According to the National Landlord Survey 2003, more than 86% of landlords say
non-payment of rent is their biggest problem. Non payment of rent can present a
big problem to landlords because it affects their cash flow.
For professional property managers, preventing or reducing rent arrears is also one of the biggest issues.
For professional property managers, preventing or reducing rent arrears is also one of the biggest issues.
Current Payment Options
The current payment options available to tenants are mostly consisted of:
Automatic payment is the most popular payment method. Nearly 75% of landlords ask their tenants to pay by automatic payment and make it a condition in the tenancy agreement.
- Automatic Payments
- Online banking
- Cash
- Cheque
Automatic payment is the most popular payment method. Nearly 75% of landlords ask their tenants to pay by automatic payment and make it a condition in the tenancy agreement.
Reasons for Late Payments
According to Dun & Bradstreet
Tenants are Consumers
Tenants are just people like you and I. We are all consumers and manage our own finances and cash flow in our own ways.
Credit Cards
According to the Reserve Bank of New Zealand, there was over $2.7 billion dollars
spent on credit cards in March 2010 alone. It is a choice of payment that has
become widely accepted by many consumers in New Zealand.
Rent-on-time™ is the platform that allows tenants to pay from their credit cards to any landlords / property management firms in New Zealand.
Rent-on-time™ is the platform that allows tenants to pay from their credit cards to any landlords / property management firms in New Zealand.