Advanced Rent has partnered with digital payments provider LettsPay to provide the latest Fintech products to Landlords, Letting Agents and Tenants. The initial deployment enables Direct Debit rent collection and Digital Wallets; further enhancing Advanced Rent's Guaranteed Rent collection service.
The collection of rent can be highly automated with Direct Debits, requiring one batch process to be run per day for the collection of all rents due on the agreed collection date.
Direct Debits are highly efficient, because they collect what is due rather than a fixed amount, they can be easily adjusted and efficiently handled on renewal. Direct Debits also do not require any manual input enabling automatic reconciliation to the corresponding tenancy.