How leasing teams benefit from flexible rent payments

26% of renters spend $1,500 or more on rent, making it a considerable monthly expense.¹ 

For those with irregular pay cycles who struggle to pay rent by the first of the month, or within the grace period allowed, the consequences range from hefty late fees to marks on their credit report. For leasing teams, this means tracking down late or missed rent in the little free time they have. 

With Jetty Rent, both sides of the lease benefit. Renters with irregular pay cycles can spread out their monthly rent obligations and avoid penalties for late payments, and leasing teams get guaranteed on-time rent, less time spent chasing delinquencies, and happy renters.

Get rent payments on time, every time

Giving residents the option to use Jetty Rent helps lower the risk of late or missed rent payments. With 1 out of 3 workers in the U.S. working in the gig economy, pay dates vary, and even though rent is always due on the first of the month, not everyone is paid by the first.² 

Jetty Rent lets renters pay their rent throughout the course of the month on their own terms. Regardless of when your residents pay Jetty, you always get paid on the first. This helps deliver a more predictable cash flow without the hassle of chasing late payments, which requires free time that most on-site teams don’t have.

Jetty Rent makes life easier on our residents and takes the burden of rent collection off our shoulders—it’s a true win-win.

Jonathan Kirn, Director of Ancillary Services at Cortland

Convert more leases and retain happy renters

Adding Jetty Rent to your list of financial amenities can help convert more leases. With the flexibility to rent now and pay later, renters can reclaim their financial freedom and pay rent on a schedule that works for them.  

When you advertise “flexible rent payment dates” or “pay your rent on your own schedule,” prospective renters know right from the start that they won’t face high late fees at your community, especially those who struggle to make rent on the first because of an irregular pay cycle. 

Offering Jetty Rent can also help retain the renters you already have since it’s a compelling benefit that other communities might not yet offer.

Operate more efficiently

Jetty Rent is fully integrated with your property management system, meaning no changes are required to your current rent collection processes when you offer the product to residents. 

For residents enrolled in Jetty Rent, this means that Jetty can see exactly how much rent and other fixed or variable charges are due each month. We’ll pay that balance and post a confirmation directly to the resident ledger. 

Collecting rent on the first of the month also frees up time for leasing teams to do things like fill vacancies and renew leases instead of chasing down delinquencies.

Sources:

  1. “Renting Statistics,” iPropertyManagement (https://bit.ly/3tmyxM9)
  2. “Gig Economy Statistics: The New Normal in the Workplace,” Fortunly (https://bit.ly/3tzDr8Z)

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