Traditionally tenants have been asked to pay their rent on time and setup a standing order to make sure this is done monthly. Most tenants do pay their rent on time. However, some tenants have trouble setting up standing orders, or pay manually each month and can forget to pay on time. Unfortunately some tenants just stop paying, and the landlord and agent don’t know there is a problem until well after the due date.
We have therefore joined up with GoCardless to setup a direct debit with all of our tenants. The setup is done online and is easy for the tenants to complete the forms and authorize the payments. This provides peace of mind for tenants and landlords. Rent is paid automatically each month on time.
If a tenant is short of funds at the time, then gocardless alerts the tenant and tries again later.
Northwood are notified of any issues, so we can take action quickly to resolve any problems.
