|
|
|
| |
|
|
| |
What is On Time Rent? |
On Time Rent was started in 2004 and currently has hundreds clients enjoying the benefit of On Time Rent. It is Rent Factoring where the rent is paid every month by On Time Rent on the rent day. On Time Rent collect the rent from the tenant. The scheme is available to agents throughout England and Wales who will benefit from receiving the FULL rent in time to post it through their system and have time to send the net rent to the landlord on the rent day. The landlord receives the rent On Time.
As the Property Ombudsman said publically recently "As these sort of arrangements actually protect the landlord and therefore assist in providing a better service to the consumer I have publically stated that I think they should be offered by every agent where the tenancy qualifies"
The system is specifically designed by agents for use by agents. The scheme will only be available through professional letting agents.
What are the tenancy limitations? Any assured shorthold tenancy or company let can be accommodated by the scheme so long as the tenants meet the referencing criteria. The minimum rent for the scheme is £400 and the maximum £5000 per calendar month. Students and DSS tenants can be accommodated.
On Time Rent Limited will collect the rent from the tenant by Direct Debit which the tenant signs when the tenancy is signed. Once that is done On Time Rent will collect the rent from the second month. On Time Rent will pay you the rent even if the tenant has not. If the tenant fails to respond to the debt recovery process formal legal proceedings will be instituted to
by On Time Rent at their cost to recover possession at no additional cost to the landlord.
On Time Rent were the first to launch an
On Time rent scheme in 2004
and they have a wealth of experience in running the scheme. They are able to offer this to agents with absolute confidence as On Time Rent have probably seen every eventuality that can occur in relation to the scheme. The Landlords information is never disclosed to On Time Rent until it is necessary to do so for arrears and possession proceedings.
|
|
|
|
|
|
