Ads Google

How landlords can ensure they get paid on time

by CRE on 12 Oct 2018

The following content is sponsored by RBC Ventures/Get Digs™. It was written by CREW’s editorial team.

After conducting in-depth research and speaking to landlords across Ontario, the team at Get Digs decided it was time to take action and streamline the rental payment process. The antiquated system of post-dated cheques is not working for everyone and a change is more than overdue.

The solution was Get Digs: an online platform for renters and landlords to pay and receive rent payments.

“For landlords, Get Digs has a feature called RentSteady, which ensures they get paid on time even if the tenant is late paying their rent*,” says Rachael Carswell, Co-Founder at Get Digs™. “It helps remove the negative impact on cash flow associated with late rental payments and gives the landlord a security and peace of mind that has been missing for so long.”

The landlord receives an e-mail notifying them that the tenant is late paying the month’s rent, and the RentSteady service means the landlord still gets paid. Get Digs handles all of the follow up associated with late payments and continues to send weekly notifications to update the landlord of the renter’s payment status.

“We continue to follow up with the renter to attempt to recover the rent owed and get them back on track with their payments” says Carswell. “If the renter defaults, the landlord will continue to be paid on the first of the month – for up to four months of consecutive non-payment.”

“There are other products in the market that attempt to protect landlords in the event of non-payment of rent by their tenant, but our belief is that they simply aren’t effective enough. They add more tasks and processes on top of what the landlord is already going through and they do not solve the main issue of being out of pocket for the rent owed.”

Download this white paper to find out more about Get Digs and how it’s changing the game for landlords and their tenants

Most Trending News

Canadian buyers returning to major cities, expecting to spend more: BMO survey
News

The survey shows that buying a home in a major city centre has risen 5% since last year.

Read More
Hiking development charges will only make homes more unaffordable
News

The more time and money a developer spends navigating the extensive labyrinth of procedural processes, the costlier it becomes to build a new home.The more time and money a developer spends navigating the extensive labyrinth of procedural processes, the costlier it becomes to build a new home.

Read More
Upcoming Multifamily Conference offers investors unmatched opportunities to learn, network and grow
News

Coming to Toronto May 14-15 is an in-person event discussing multifamily investing and the benefits it can have for new and experienced investors.

Read More