Down payment on the next property
The down payment on the next property is already in the existing rent - just spread across the next 6 months. Your agency advances the cash now against multi-tenancy rent receivables and earns on every month that pays it back.
The income is steady. The cash isn't ready.
A landlord with five tenancies brings in around £7,500 a month. The bank wants the down payment today; the cash is spread over the next 6 months of rent.
The agency advances against the combined rent.
Your agency funds the down payment from its own account against rent across the existing five tenancies. Wectory sets up a Direct Debit on each tenancy into your collection account, branded as your agency. The purchase closes on time.
The rent repays the advance.
Each month, the rent across the five tenancies collects by Direct Debit into your account. The Wectory fee is 2.4% of each tenancy's repayment - £36 on each tenancy's rent in this example - and, after GoCardless's own fee and any VAT on both that the agency cannot recover, the rest stays with your agency until the advance is closed. 6 months of £7,500 combined rent funds an advance of £40,950 at a 9% fee and leaves £2,826 with the agency per deal.
your income per multi-tenancy advance closed
Worked example: £7,500 combined monthly rent across 5 tenancies, over 6 months, at a 9% factoring fee, for a VAT-registered agency where the landlord repays. Bigger portfolios scale up; real numbers depend on the rent, the period, and the fee you set.
Each repayment Direct Debit in this example carries a Wectory fee of £36 and a GoCardless fee of £4, and both come out of the income shown. GoCardless's fee is shown at its public Standard tariff, before VAT, and is illustrative: your own plan may differ.
Figures are estimates before your own costs and taxes - not a quote, a forecast, or a statement of the income you will earn. Each supplier's fee is shown before VAT, and the income is after whatever of that VAT is not recovered. See about the calculators and worked examples.
Rent Collection
Rent Collection takes a fee on every Direct Debit on tenancies your agency already manages. No working capital, no new pitch to landlords. Start today; add Rent Advance when capital is in place.
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