According to Console research, around 30 per cent of property owners have reported issues with receiving rent on time – something Console Pay is able to remedy with ‘set and forget’ functionality for rental payments, either directly from a bank account or credit card, which is only possible through an integrated direct payment system.
Real estate consumers compare their agency transactions to their broader experiences in the 21st century, and when it comes to recurring payments like rent they are seeking a frictionless experience similar to their recurring payments at the gym, private health insurance and Netflix.
The gym is where many of us might recognise the name Ezidebit from and, as Console Group CEO Tim Molloy points out, it seems a logical extension to make the ease of direct debit available for the $82 billion rent payments transacted each year across Australia and New Zealand.
Mr Molloy said, “We’re really excited to be launching this after extensive testing. We believe integrated direct debit is the future of rent collection for real estate agencies, offering huge benefits in property management efficiencies. Unlike other similar payment services on the market, we are also offering our clients a free tenant activation service, which will help property managers get tenants on board faster.”
On the partnership, Rob Baird, Sales Director at Ezidebit, said, “After great success in simplifying processes and payments in industries like childcare and health clubs, we’re thrilled to now partner with Console and have the same positive impact on the property industry, who have been struggling with this for some time. We think agencies will be surprised how much time they can save with automated payments.”
Console Pay supports the elimination of arrears from a property manager’s already busy day. By establishing the recurrent payment and automatically reminding tenants before a payment is due, rent becomes an automated event and a non-negotiable.
It is available now for Console Gateway users and will migrate to the highly anticipated Console cloud platform.