Sarah wants to pay her rent 2 months in advance, even though her lease states that her rent is due fortnightly.
Does OurProperty Payments have the ability to take multiple rent payments in advance?
In short, OurProperty Payments cannot take multiple rent payments or large sums of rent in advance at once. It is not legal in some states for real estate agencies to hold or disburse rent payments more than the stated period in the lease.
Fear not! Sarah has a few options here...
1. Separate Account for Direct Debit
Sarah can set up a separate transaction account or everyday account (not a savings account) and have her rent set up for Direct Debit. She may be able to change her rent frequency and extend her rent period to monthly in her app in order to save bank transaction fees.
Sarah can transfer her 2 months' rent (plus extra to cover any bank transaction fees) into this account and forget about it! The system will automatically debit her rent every week/fortnight/month according to the rent period stated in her app.
2. Direct Debit From Normal Account
If Sarah doesn't want to open a new account, no worries! She can keep her 2 months' rent, plus any fee costs, in her everyday account and still set up direct debit to take her rent out of this account.
If the option is available, she can extend her rental payment period in the app or by contacting her property manager so she can reduce her bank transaction fees.
3. Set Up Card Payments
Sarah could alternatively set up card payments and load the 2 months' rent (plus any card fees) onto the card and have her rent debited from that card each time it's due.
If the option is available, she can extend her rental payment period in the app or by contacting her property manager so she can reduce her card fees.