Rentpay?

Hi all,

I've just bought 2 IPs and am looking for a new PM to manage them as well as another existing IP. I've narrowed down the search to two PMs and am trying to decide between them. Cost wise, there is very little difference between the two and I have talked to both the actual PMs who will be looking after our properties.

One of the difference between the two is that one does direct debit only and the other does rentpay only. I remember reading a thread about rentpay earlier, but can't seem to find it any more. What are people's thoughts on rentpay. My initial reaction is that tenants would have to pay $3 a month more and I don't like that.

Cheers,
MrHyde
 
If you don't like it then neither will a lot of tenants, which may influence them to seek a rental through another agent.
Marg
 
My law, the PM must provide at least one free method of payments for the tenants, PayRent is free for the PM and free for the Landlord but as you know not for the tenant.

You will find that if your tenants will push hard enough they will have to pay only the amount on the lease rather than the $3 extra.
 
QLD Residential Tenancies and Rooming Accommodations Act 2008

Depends on where your investment properties are.
In Qld it is against the law to just have one option to pay the rent. I have heard of tenants complaining about having to pay to pay rent...they jsut don't get it. That is why this section became part of the new legislation effective from 1 July 2009.

Section 84 Tenant must be given choices of approved ways for
payment of rent and be advised about associated costs
(1) This section applies to a lessor or lessor’s agent that intends
to—
(a) enter into an agreement with a tenant that provides for
the payment of rent by an approved way under section
83(4)(g); or
(b) change an approved way to a different approved way
under section 83(4)(g).
(2) The lessor or lessor’s agent must first give the tenant a written
notice that—
(a) gives the tenant a choice of at least 2 other approved
ways for the payment of rent under section 83(4)(a) to
(f); and
(b) advises the tenant of the costs associated with the
approved way offered under section 83(4)(g)—
(i) of which the tenant would not reasonably be
aware; and
(ii) that the lessor or lessor’s agent knows or could
reasonably be expected to ascertain.
Maximum penalty—20 penalty units.

Hope this helps.
 
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