For UK letting agents and property managers
White-label Direct Debit on your own collection account. Scheme events with a reason on every failure. Payouts reconciled in your settlements view.
A tenant sits on a standing order. A payment goes missing. The agent learns five days later. The PM reconciles a bank statement by hand. Across a year, around 30 hours per branch leak into manual matching.
When a tenant sets up a standing order, you do not see the schedule. You see the deposit when it lands. A failure looks like silence; a partial payment looks like a partial payment with no reason attached.
By the time you spot a missed rent, the tenant is five days into the cycle. You chase blind, the landlord chases you, and the conversation starts with what happened rather than what to do next.
Bank statement in one tab, tenancy ledger in another, manual match line by line. Across a 200-tenancy book that runs to roughly 30 hours per branch per year on a process that is meant to be automatic.
Wectory provisions a collection account on GoCardless Partner Integration in your name. Every collection and every failure arrives as a scheme event carrying its reason, and your settlements view reconciles each payout against its own lines, flagging any that do not sum.
Set your numbers. See what Rent Collection adds to your year.
At this sales pace, on top of your standard letting fees
Steady-state run rate at full coverage: £01234567890123456789,012345678901234567890123456789 / year
Each rent collection at this rent carries a published price of £10 across both suppliers, of which Wectory keeps £6. The provider's ordinary processing sits inside that published price, never on top of it.
Figures are estimates before your own costs and taxes - not a quote, a forecast, or a statement of the income you will earn. They exclude VAT, which each supplier adds to its own share. See about the calculators and worked examples.
No capital, no PMS swap, no new bank account. Put a tenancy on Direct Debit today and add Rent Advance later when you want it.
Wectory connects your agency to the GoCardless Partner Integration. The collection account is your own bank account, in your agency's name. You stay merchant of record.
Wectory holds no client money. Your existing CMP arrangements cover this account unchanged.
The tenant signs one Direct Debit mandate via your agency-branded onboarding. It is the same form any UK tenancy already requires.
Each month rent collects from the tenant by Direct Debit. Funds settle directly into your collection account.
The platform fee deducts at settlement inside the same GoCardless scheme transaction. Scheme events reach your dashboard as GoCardless reports them, and your settlements view reconciles each payout against its own lines, flagging any that do not sum.
Rent Collection is built to run on the letting-agent licences and CMP cover you already hold, and adds no authorisation or scheme of its own. Which permissions your own activities require stays yours to determine.
You already collect rent into a client account under your existing CMP scheme. Wectory settles tenant Direct Debits into the same account you nominate during onboarding, with you as merchant of record on the mandate. Wectory adds no second account and no new scheme to join; whether your CMP cover extends to the flow is worth confirming with your scheme provider.
VAT follows each supply in the arrangement, not the rent. A landlord's outright sale of a rent receivable may be an exempt supply by the seller; a narrower assignment, where the landlord keeps legal title and the obligations, may be no supply at all; and a landlord not acting in a taxable capacity may be outside the scope of VAT. Any financing, administration, collection or default-protection service you supply to the landlord alongside the purchase is a separate supply and may be standard-rated. Which of these your arrangement is turns on its actual facts, so your own VAT position stays yours to determine.
Assigning the rent receivable does not change the VAT treatment of the rent itself under the tenancy. Your own rent collection or management fee is ordinarily a standard-rated service where you are required to charge VAT, handled the way you handle your management or letting fees. Wectory's own fee and GoCardless's own charge are each handled by their supplier: GoCardless accounts for its own tax on its own share, and Wectory adds VAT to its fee, on its own invoice, only once its registration takes effect.
Rent Advance
Rent Advance compounds on the same tenancy. Add it later - Rent Collection history is the underwriting signal that makes Rent Advance sharper.
Limited access
Wectory opens through 2026 to a small group of UK letting agents and property managers. We onboard your agency to Rent Advance and Rent Collection when your slot opens.
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