Almost a year after announcing plans for the product, Rent.com.au has finally put funding arrangements in place to support the launch of RentPay, a rental payment management and funding package.
Rent.com.au, which describes itself as Australia’s number one website dedicated to rental property, has entered into a five-year agreement with SkyCredit (which trades as Fair Go Finance) to fund the product.
RentPay will allow renters to schedule payments, build a payment buffer and access funding when needed to meet a shortfall. The SafetyNet facility included in the package will allow renters to draw down a week’s rent on credit in an emergency.
Rent.com.au and SkyCredit started working together last year, when SkyCredit took over Rent.com.au’s RentBond product, which provides finance for rental bonds with terms up to 12 months.
Rent.com.au will be an authorised representative under SkyCredit’s Australian credit licence and will receive commissions on credit provided.
Rent.com.au’s core offering is RenterResume, a portal that holds renter resumes and allows renters to apply for rental property without having to re-enter their details each time.
It also offers an ID verification service RentCheck, RentBond, and a utility connection service RentConnect.