A Guide on Third-Party Rent Payment Services and Fees to Pay Rent

Real estate property and rental services are the most sensitive matters. Everyone wants simple payment services and sorted plans or gateway. Most of the services get introduced in the market. The real estate agency benefits from the third party rent payment services. It can withdraw money from your bank account and transfer it to your rent account. Multiple sites provide accurate or relevant information through feedback and reviews. It is best to refer to the real estate review for making the correct property-related payment decisions.

-Third-party rent payment services or 3PRPS

You will find that third-party payment services are best for the tenants. They will get the continuous flow in rental income. The tenants will have to consider their financial stability before signing the agreement. You can also check the real estate review sites to check customers' feedback. It helps you in knowing more details about the third party rent payment services. You will know about the drawbacks and advantages of the services.

●The benefit to agents - The real estate agents can be quite relieved from these services. They do not have to run after the tenants to pay rent and chase them every month. It is a secure rental payment service.

●The benefit to tenants - It is also beneficial for the tenants as they can be prevented from accidental forgetting to pay rent. Tenants did not have to face rental arrears affecting their budget. You can be free from the rent-paying task every month. It automates the payment procedure and reduces the hassle.

●Rewards - The reward points are allotted to the tenants for encouraging the third party rent payment services. It can be used at retail shops and allow you to buy the desired item. There is a small amount decided for the reward points. You will find that the 1-year point’s worth amounts to $3.50 to $7 considering your buying preference.

●Fees charged - There is a regular service providing fees and default fees charged by the platform. The service tends to transfer the amount to the rent account on a fixed date. If the account runs the shortage of the desired amount then the tenant has to pay the default fee. It is a major problem for the renters as they are charged to pay the rent.

It is an assured rent payment platform and a particular fee is levied by the platform. The promotion is not done with the website but a particular amount is paid by the landlord or the tenant.

-Lawful terms

According to Section 35 of the residential tenancies act 2010, the tenants are permitted to pay rent through the medium which does not incur any other extra cost in the tenant’s transactions.

It ensures the free and easy option available for the tenants to pay rent. The laws are made in response to the 3PRRS agencies imposing extra fees on the tenants. They do not have any choice and are forced to pay through the method of levying extra fees on their rent payment. Section 35 law eliminates and reduces the complaints of getting an offer to agree to the third party rent payment services. It reduces the complaints of impractical solutions provided to the tenant by the landlord or agent.

If the agent or the landlord are pressuring you to use the services, you can raise your voice as there are freeways and options available for your rent payment. You can reach out to the Tenants advice and advocacy service for the complaint against the agent or landlord. You can also consult with advisors and refer to real estate website reviews. Customer reviews are based on their experience and you can make decisions accordingly.

-Rent payment options availability

According to Section 83(4), Residential Tenancies and Rooming Accommodation Act 2008, - the rent can be paid with multiple payment modes.

●Cash

●Cheques

●Deposits to the financial institution that too nominated through lessor

●Credit card payment mode

●EFTPOS system

●Mode of direct deduction from pay, pensions and other possible benefits

●The mode of payment is mutually agreed upon by the provider and resident.

The payment mode facilitates the tenant to use the preferred available source. You will find various options like a deduction from the credit card to pay the rent.

If the party proposes another way for rent payment through a third party rent payment platform then the tenants have the opportunity to make payment through other ways. Section 84 approves two other ways of making payment of rent that too under section 84(4)(a) to (f).

The tenant must have information or awareness about the payment platforms. They must know about the cost levied by using such platforms.

1.They can pay rent through debit card, cash or using a third-party payment platform.

2.It is essential to inform the tenants and agree to the 3PRPS fee depending on the fee passage on to the tenant.

There is a penalty of about $2757 if the section 84 rules do not comply with the procedure. You can know about the renting procedure through rent reviews.