RentReady launches the first pay later solution in Australia for landlords
ASX-listed MoneyMe Limited together with MoneyMe Financial Group Pty Ltd announce the launch of RentReady, a first to market pay later solution to help agents and landlords better manage investment properties.
RentReady, which is available to landlords through real estate agencies, offers the option to cover up to $15,000 of property expenses now and pay later*.
The funds can be used to help landlords and agents make property improvements as well as covering maintenance & general costs, marketing expenses and rent shortfall.
Clayton Howes, CEO and cofounder of MoneyMe said; “Unexpected property expenses are one of the biggest headaches for both landlords and agents. RentReady provides a solution to helping both parties tackle cash-flow and property expenses by allowing them to access much needed funds quickly, safely and efficiently.”
With RentReady, property managers and real estate agents no longer carry the upfront cost for repairs, maintenance or general services as the funding is received in minutes and is automatically dispatched into the business account.
“As a business we aim to provide quick, safe and efficient lending across the property, rental & real estate market. RentReady adds to our ever-growing portfolio of products that aim to solve the failings of traditional lenders by providing technology-enabled payment solutions,” continues Clayton.
RentReady follows the launch of ListReady in May 2019, which provides cash-strapped homeowners with access to funding to assist with the sale with their property. RentReady is another great initiative adding to the ever-growing portfolio of MoneyMe products.
How it works:
- Real Estate/ Property Managers create an account with consent from the Landlord
- Landlord receives SMS to complete the account set up
- Real Estate/Property Manager sends an expense request to the Landlord for approval (Eg. $2,000 requested to pay a tradie to replace a dishwasher)
- Landlord reviews and accepts the request
- RentReady sends funds directly to the Real Estate/Property Manager to pay the tradie
*subject to the usual T&Cs