Flexible Rent: Helping Landlords to Help Their Tenants

Wectory is set to launch a new tenant focused product, Flexible Rent. Built to help protect landlord income and tenant security, Wectory will offer to cover rent for tenants for up to 21 days. 

Positive change like gaining new employment or unforeseen expenditure can cause challenges around rent due dates. Flexible Rent is built to ease these pressures for both tenant and landlord, making it easier to affect positive change.

Economic pressures like high inflation and rising energy bills are also expected to put tenants under increased pressure over what could be a challenging period. Further reduction in spending power is set to squeeze tenants even further than seen during the heady days of the pandemic, potentially putting secure rental income at risk.

Covering rent for short periods will help tenants avoid late payment charges and risk of default, but also protect landlord income maintaining positive relationships and hard earned reputations for good tenants. It may also be another tool to attract great tenants for landlords and/or their managing agents. 

We’d love to hear your feedback on Flexible Rent. Please click here to complete a quick survey and be kept up to date on launch information.