We build the infrastructure for Rent Advance and Rent Collection

The Rent Advance gap

UK letting agents hold reserves earning around 1.61%. Their landlords need cash: £6,864 on average for an EPC upgrade, January tax, refurbs, the next property. Guaranteed-rent products take 15-28% of the rent and the management with it. Factoring sold direct to landlords proves the demand, but goes round the agent. Nothing else lets an agent buy rent with its own money.

The capital, the demand, and the relationships all exist. The infrastructure that connects them is what we build.

The Rent Collection gap

Most rent still arrives by standing order, and the agent finds out about a missed payment only when checking the bank account. The market is moving to Direct Debit, but an agent not on Reapit has few good options. Reapit bought PayProp in December 2023, so rent collection money now feeds a rival for every agent on another PMS. Direct Debit bundled into other PMS subscriptions is hard to see into. GoCardless on its own does not run the process for you or follow up arrears.

Wectory gives you Direct Debit rent collection on your own bank account, branded as your agency. You see the result of every payment, and your Payouts page checks every payout.

Rent Advance

You buy a landlord's next months of rent from your own funds and set the fee with each landlord. Wectory sets up the Direct Debit, runs the risk check and prepares the compliance documents. It takes 2.4% of each repayment: off a successful Direct Debit before the rent reaches you, or invoiced monthly on rent the tenant pays you directly.

Rent Collection

Direct Debit rent collection, branded as your agency, on your own collection account, connected through our GoCardless Partner Integration. Tenants pay you, not Wectory. Wectory sets up the Direct Debits, shows you each result and checks each payout, and takes £2 per successful tenant Direct Debit before the rent reaches you.