Direct Debit for Leasing & Rental Payment System
Streamline rent and lease payments with Biz Core’s reliable and easy-to-use direct debit lease and rent payment system.
Table of contents
Work Smarter Not Harder with Biz Core Direct Debit Lease & Rent Solutions
Biz Core’s direct debit system offers a flexible and convenient way for your customers to pay . The convenience of automated payment processing can increase customer retention and improve customer service.
Biz Core offers tailored direct debit solutions. So whether you’re leasing property or managing a fleet of trucks, you can ensure that you get paid on time. Contact us for a free demo today and see how easy it is to migrate to an online system.
Rent Paid On Time
Small businesses need strategies in place to deal with late payments and unpaid invoices. Late payments are an ongoing problem for all businesses, particularly in Australia. According to Xero, 48% of invoices issued by small Australian businesses in 2021 were paid late.
By using direct debit software, new tenants can use a system that automates their rent and removes the chance of late payments. Tenants or clients can often forget to make the bank transfer that allows the rental provider to be paid on time.
With a tailored and personalised online payment processing system like Biz Core, your clients can organise the rental agreement for a date and frequency that suits them. Once a recurring payment processing schedule is set up, your renters can easily pay their rent when it’s due and you will see a reduction in the amount of failed payments.
How Does Biz Core Rental Direct Debit Work?
Rental direct debit systems can help take the stress out of collecting payments. With Biz Core, we can easily send the necessary forms to your clients and customers. They can choose what percentage of the rent money they pay and how often they would like to pay it (weekly, fortnightly, monthly).
Once the system is set up, rent will be automatically taken out of their account on a schedule that best suits them. Many choose the day after payday, so they know that they have enough money in their account.
Our easy-to-use online dashboard can help you visualise where each dollar is going while being flexible enough to work with your client’s requirements.
Effective Rent And Lease Management With Biz Core
Rental providers often use a large chunk of time and resources chasing up failed or late payments. Effective lease and rent payment systems can help you to collect payments with ease, which can encourage repeat business.
If your business offers an expensive service or item, a direct debit lease can make your goods or services more affordable for potential clients. Rather than paying a large lump sum payment upfront, you can give your customers the option to pay in frequent instalments.
Benefits And Features Of Direct Debit For Leasing
Some benefits of direct debit for rentals and leasing include:
- Daily reporting: We’ll send you trends and updates so you can easily see your cash flow.
- Instant accounting: Direct debit makes payments almost instant.
- Repeat transactions: Customers don’t have to remember to approve payments, so it simplifies their life.
- Tagging: Create the tags that best suit your business. For example, tag your clients based on what they rent or lease.
Book a demo
"*" indicates required fields
Why Use Biz Core As Your Direct Debit Lease & Rent Solution
Boost Customer Satisfaction
Make your customers happy with express payment processing.
Paperwork is no longer a hassle when you can upload and sign documents from your computer, mobile, or tablet.
Payment Solutions to Suit Your Business
Biz Core caters to a range of businesses and industries. Get in touch today to discuss your particular business needs.
Save Time and Money
With a seamless and automated payment process, and 10% commission on customer charges for every successful transaction processed that month, Biz Core is here to help keep your costs down and your profits up.
Data Visualisation & Daily Reports
Track your daily transactions and view your monthly revenue all in one place.
System and Data Security
Enjoy the comfort of knowing your data is secure with state-of-the-art Microsoft Azure cloud security.
Never worry about payments again with scheduled recurring payments. Track successful and failed payments, and set automatic notifications and reminders.
Online Payment system for small to medium sized businesses
Our simple payments solution makes managing your income and cash flow a hassle-free experience. Whether you’re managing subscriptions, fees, repayments, or any other type of ecommerce transaction.
Make the customer experience that much better with direct debit integration, so they can pay from a wide range of banking institutions.
Learn more: Direct Debit Services
Handle any type of recurring or subscription payment with ease. No matter the payment type, frequency, or logic required, we’ve got the system in place to make it a breeze.
Learn more: Recurring Payment Processing
Don’t need the whole payment processing system? No worries, use your own merchant facilities and just make use of our simple payment gateway.
Learn more: Online Payment Gateway
Get members signed up, set the payments schedule, and then let Biz Core handle the rest.
Learn more: Membership Payment Processing
Increase business efficiency and know you’re getting paid on time. Automation features ensure you can instantly send out receipts, handle failed payment notifications, and log any customer contact.
Learn more: Payment Automation Solutions
Credit Card Payments
Securely accept and process credit card payments with ease. All credit cards accepted.
Learn more: Credit Card Payment Processing
What is direct debit for rent?
Direct debit is an automated and easy-to-use system for rental providers. It works by automatically taking rental payments every month, fortnight, or week. You also have the flexibility to customise payments and track cash flow with an accurate data visualisation dashboard.
How does a direct debit lease work?
To set up a direct debit lease, a rental agency must obtain a direct debit authority form and a rental agreement with an agreed payment schedule from the tenant. Once these have been obtained, the rental agency can set up automatic direct debit payments.
Biz Core makes the process of obtaining a direct debit authority form and setting up direct debit easy with just 3 easy steps:
Set – Enter the payer details into Biz Core and set the payment schedule. The platform has purpose-built tools to make this quick and painless.
Sign – Once set, our smart software will automatically email a direct debit authority form to the payer which can be signed online.
Forget – Biz Core knows when the form is signed and will store it for you. Direct debits will now be automatic from the first scheduled payment date.
Is direct debit for a lease a good idea?
There are many benefits to using direct debits for leases:
Reduces administrative tasks and burdens - no need for messy cash payments and cashing cheques. Direct debit is a smooth, paperless process that reduces administrative tasks and human error.
Reduces the occurrence of late payments - customers no longer have to worry about forgetting to pay their rent with automatic direct debit payments.
Increases flexibility - with direct debit, it is easy to change the payment schedule, the payment amount, add one-off charges, and hold payments.