How RentFund Benefits Landlords

Posted by:
Thomas Deneve
on
August 26, 2022

RentFund is changing the way the world thinks about renting. Now for some landlords that can be a little daunting. We understand that change can be scary but in order for the world to advance and move forward we must change. RentFund is part of that change and we look forward to a future when that change is the new norm. In this short article you'll learn the key benefits RentFund offers landlords and the future of renting.

Benefit #1 - Damage Protection

One of the main attractions for most landlords using RentFund for their rental properties is the Damage Protection. When you list your rental property on RentFund you no longer need a damage deposit because your property is protected. One of our main focuses for landlords is this; “We incentivise tenants to take care of your rental property as if it was their own.”

How we do this is with the “Fund”. When you list your property and rent it to a tenant using RentFund you are agreeing to give the tenant 5% of their rent back. That 5% that you are giving back to them every month will be automatically invested into the tenants “Fund” for them. The major incentive for the tenant is the investment fund, so rather than spending money every month on rent and never getting anything back the tenants will be getting something back for their hard work and because you are agreeing to give them back that 5% they are going to take care of your rental property because if they don’t they will lose the fund and get kicked off the platform. If that was to happen you and your rental property are protected. This will put more money in your pocket long-term and give you the peace of mind knowing that your property is in good hands and being taken care of.

Benefit #2 - Qualified Tenants

Another great benefit when using RentFund is qualified tenants and more importantly accurate, transparent data. As a landlord you want to make sure that the tenant(s) moving into your properties are going to make payments on time and take care of the property. This is the most important thing when it comes to renting and most of the time the methods landlords use to verify if a tenant will be “good” are incorrect and slow down the process to get someone into their rental properties. Most landlords require a credit check, proof of income, criminal record check, past references and the list can go on. The problem with each of these methods is they are incomplete and not an accurate way to truly know if a tenant is going to be good or not. It’s like looking at a beautiful painting 1 inch away from your face… you can’t see the full picture, only a small piece. A person could have bad credit but still be a great tenant, a person could be self-employed and making rental payments on time every month but can’t provide a proof of income, a person could have a criminal record but they’ve changed and could be your best tenant ever, a person could be renting for the first time and not have any references…etc. The point is there are really so many different scenarios that can occur when screening a tenant, the only way to actually know if they are a good tenant is by seeing how they actually pay rent. You also run into privacy issues when you start requesting personal information and most people are less likely to give that information out to someone they don’t know. This makes it harder for you as the landlord to get applicants that you can be confident are qualified. RentFund provides that data in a clear and transparent way to you as a landlord. You can see the “Tenants Score” on the app and past reviews of that tenant and what it was like renting to them. We take many different key factors into consideration when determining these data points and rate the tenant based on things that actually prove they are a great tenant. By doing this you can be confident you are getting a much higher quality tenant based on accurate data that proves they are going to be a great fit for your rental property and you can review this information in an open and transparent way on the RentFund app in a few seconds.  

Benefit #3 - Rental Payments

Collecting rental payments can be slow, frustrating and time consuming. Most landlords collect rent through a variety of different ways and usually whatever way they require the tenant has no other payment options. Whether that be check, cash, e-transfer, direct withdrawal…etc. The problem with these methods is they are outdated. Tenants should have the option to pay their rent online and use the payment method they prefer and landlords shouldn’t have to chase tenants every month to demand their rental payment. RentFund solves that problem by automating the entire payment experience. We give tenants the option to pay rent using a visa card, mastercard, paypal or any other online method they would like to use to pay rent. We then take that money and directly deposit it into the landlord's account every month, so they don’t have to worry about anything. When you simplify the process like this it will make it faster and easier to get tenants into your property and start making payments fast!

Benefit #4 - Landlord Score & Reviews

It’s not rocket science that great landlords will attract more tenants. If a landlord takes care of their properties, responds fast and even goes out of their way to make sure the tenant is feeling at home in their properties they deserve to be featured and acknowledged for that. Right now there’s really no way for landlords to stand out amongst the crowd. It’s crazy because great landlords deserve to have the spotlight and they deserve to have a way to feature who they are to future tenants. RentFund will give landlords that ability to showcase themselves to tenants as a trusted and reliable landlord that will make their rental experience great. The reality is tenants want to know they can trust landlords just as landlords want to know they can trust tenants. RentFund gives both parties the option to see this information in an open and transparent way. This will help tenants make better decisions when it comes to renting and it will also help landlords differentiate themselves from other landlords so they can attract more tenants to their properties.

Benefit #5 - Lease Agreements

Getting a lease agreement together can be costly and time consuming and the problem is most standard leases do the same thing. When your property is listed on RentFund we will provide the lease digitally to you and the tenant at the time of approval. The lease gets sent out within seconds and can be completed by both individuals within minutes. This gives landlords the piece of mind to know they don’t have to scramble around trying to get a lease agreement signed with the tenant for their rental property, it will already be done once you’ve accepted the tenants move in date.

Benefit #6 - Quick Chat

Being able to communicate with a tenant all in one place is important for the entire rental experience. If problems happen or the tenant has questions for you it’s important for them to be able to have an area where they can send a message and get a response. Now you might be thinking, “well I can just give them my number and they can call me”. The problem with that is it won’t be added to your Landlord Score. When a tenant communicates with you through RentFund and you respond quickly to their inquiry you will be rated on that. That is why for landlords the quick chat can be a powerful way for them to stand out because of their response time with tenants. Another great benefit to the quick chat is the organization of chats. When you communicate with 20+ tenants on 5 different platforms things can get pretty hectic. Having all that communication in one place makes things way more simple and easy for you and will help you be able to refer back to conversations that you’ve had with tenants.

Benefit #7 - Marketing Properties

The last benefit to end off the list is marketing your rental property. With so many different options out there to choose from it can be incredibly hard to manage them all. RentFund makes it easy for landlords to market their rental properties. Post it on RentFund and let us handle the rest. With over 20+ different networks and ways of marketing your listing we are certain that we will help you get your property rented with a top quality tenant in less than 30 days. No more paying money to list your rental on websites that promise you the world and never fulfill it. Posting listings on RentFund is free for landlords (besides the 5% that you're giving back to the tenant once you’ve rented the property). 

As you can see there are really so many amazing benefits to landlords that are using RentFund and this is just the tip of the iceberg. We are innovating and adding more things to help benefit our users because we care. Our mission is to create a win-win solution for landlords and tenants. We’re focused on putting more money back into everyone's pockets. We do that by de-risking landlords and giving tenants the incentive to take care of your rental property as if it was their own! Try listing your first property on RentFund today - Download the app and create a profile (click here to get started)