- Rent cards are becoming an increasingly popular method of rent payment within the real estate industry. These cards are generally sponsored by franchise groups (eg: real estate agencies) and administered by another company. Examples include:
- REConnect oneCard
- DEFT Card
- LJ Hooker Priority Card
- In a rent card scheme the tenant enters into an agreement with a third party (the administering company) which allows the company to process electronic rent payments from a nominated financial account.
- The service incurs a monthly service fee which is usually paid by the tenant.
- The tenant may also have to pay additional fees, for example, if there are insufficient funds in the nominated account.
- The administering company issues a rent card to the tenant and operates dedicated web pages and phone lines for rent payments.
- A tenant cannot be required to pay using a rent card if they do not agree.
- If offering rent card payments, the lessor/agent must offer the tenant 2 alternative ways to pay their rent (e.g. by cheque, EFTPOS or direct debit).
- The RTA does not get involved in disputes between the rent card company and a tenant.
- The agent must ensure the tenant is made fully aware of all charges, fees and rules associated with rent cards. The tenant should make sure they understand these fully before signing the tenancy agreement or rent card contract.