Worried If You Missed Your Monthly Rental? Read This.
Sometimes when back in the old days when you rent a house and you pay the monthly rental via cash, or online transfer, some are using Cash Deposit Machine. I can say the method nowadays can be improved or the right word, have a better way to tackle that traditional method.
The good thing about when you purchase a Zero Deposit Package with BlueDuck is it not only save your cash flow and secure your deposit, another good value that tenants have is the BD Pay Eg; the last time tenant can only pay with cash, and they may forget. Now they have options to do direct debit and pay using a credit card.BD Pay is a payment gateway with the intention of simplifying complex payment structures, and digitizing collection, which means you don't need to make payments outside the ecosystem, just use BD Pay for your monthly rental and it will save all the records and time and it will benefit you as tenants in terms of timing and traditional payment process. The most convenient and seamless experience for your monthly payment is to sign up with recurring payments.
What is a recurring payment?
Recurring payment with BD pay means you just sign up for Direct Debit as one-time authorization, your monthly rental will auto deduct from your FPX/Credit Card. So you don't need to repeat the same way every month. Here are the steps for tenants to automate their monthly rental with BD Pay;
The benefit of recurring Payment
Enhance a positive user experience by reducing the friction that occurs with repeated manual payments and delays, but it also ensures rental income is for landlords.
Reduce Late Payments & Collection Time
Late payments are detrimental to the cash flow for Landlords, as they affect both tenants' and landlords' relationships. With recurring payments, you can set up the system once, and rest assured that your pay rent, based on a predefined schedule by BD Pay. With easy direct debit from your online banking, Debit card, and also Credit card with your convenience. Your rental commitment will spend less time chasing down payments and having awkward conversations about late payments.
Automated recurring payments cut down the cost and effort associated with manual payments like receipt safekeeping and payment processing. All you need to do is establish the original payment plan once, and then the software handles payment processing for you. Your intervention will be required only when changes need to be made to the payment type or amount charged.
The recurring payment system is convenient for both tenants and landlords. Not only does it enhance a positive experience by reducing the friction that occurs with repeated manual payments and delays, but it also ensures a stable cash flow for the landlords and rental commitment from tenants.
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