Manage rent the smart way, with Console Pay
Take control of rental payments, reduce the time it takes to receipt rents and make landlords happy… Sounds like a winning combo to me!
Console Pay is a direct debit and receipting solution that helps property managers take control of tenant payments.
How does it do it? Using Console Pay you can set tenants payment schedules, automate rent, bond and invoice collection, as well as set frequency of payments and amounts.
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Too Long; Didn't Read (TL;DR)
Console Pay allows you to reduce your receipting time to minutes.
Once a payment has cleared in your trust, (which using Console Pay is 2 business days), it will appear in your bulk receipting screen without you needing to lift a finger. All you need to do is hit that receipt button and you’re done. In fact, Console Pay in Console Cloud is the only fully integrated payment solution in the industry.
Receipts are automatically imported into the bulk receipting screen ready for receipting
Implementing Console Pay into the office is totally stress free, with automated invites through SMS or email sent to your tenants, then they’re able to complete the self sign up to get started. Console Pay is also available for tenants to signup using the Tenant app, eliminating the need for you to do a thing. Once a tenant has signed up, that information comes back to your office Console Cloud.
Set to auto send invites to tenants, or send manually from the list as email or SMS
And what’s more, Console Pay works with all banks in Australia and Newzealand, and keeps your landlords happy with consistent, on-time disbursements. KPIs will be a breeze to meet using this advanced direct debit tool.
Disburse to landlords on time, every time. Direct debit collection reduces the risk of late payments and not only that, but it gives your tenants one less thing to remember, with our set and forget direct debit payment collection.
Create payment schedules from Cloud, setup invoice default choices, and make new payments
What other benefits are there?
No more dishonoured payments – If you receipt funds that aren’t cleared, you may experience dishonours, and if the owner has already been disbursed that money then it calls for unpleasant conversations with your landlords. Using Console Pay, dishonours will be a thing of the past.
Other payment providers delay all settlements up to 4 days, which means you’re waiting a lot longer for the money; or they deposit uncleared funds into your trust account, which leaves you dealing with dishonours regularly. Using Console Pay, funds will be settled and to your trust account in 2 business days (usually 1 day for credit card transactions).
Remove human error – Human error is reduced as workflow prompts remind you to update the schedule when lease details change (e.g. increased rent).
Create more value for your landlords – Using Console Pay, your landlords receive their cleared funds quicker, not only that but it provides a stable cash flow for an agency.
So start saving time, reduce your arrears, and put smiles on your clients face with Console Pay.
Console Pay Pricing
Most banks charge for each deposit into your trust account, so if your tenants pay by direct credit or most other methods, this can quickly add up. With Console Pay you will receive one deposit (settlement) into your bank for the total amount of rent collected. This will save you paying all the individual deposit fees. This is in addition to the time saved in rent receipting, and we all know time is money!
We have a simple all-inclusive fee structure that includes administration, support and SMS reminders for tenants. There are no other set-up or ongoing fees (all incl GST)
When you complete the CSA you elect to pay the fees as an Agency, then you can recoup the costs from your landlords.
The tenant enters an agreement with our partner Ezidebit to have their rent direct debited and they agree to pay the associated fees, just like their gym membership or childcare fees. The tenant can choose to pay by direct debit or their credit card. Ezidebit take care of debiting the rent when it’s due and the fee, then they deposit the rent into your trust account.
We recommend you check your state’s legislation to ensure you remain compliant.
Yes. The tenant’s dishonour fee is $14.80
You can choose to pay the dishonour fee at a reduced rate of $2.75
No. Console Pay is designed to give you control, with proactive rent collection for your landlords and efficient automated receipting. With BPay the tenant is still required to remember to pay their rent and to adjust the amounts when things change. They regularly get their reference numbers wrong, which interrupts your receipting. We believe direct debit is a superior method to collect rent.
Not a problem. Each tenant can have their own agreement and can choose how much rent they pay and the frequency. Once debited, the rent and Console Pay will automate the receipting in Console Cloud to that tenancy.
That’s fine. You can adjust the rent amount of the Console Pay tenant’s rent contribution and Console Pay will automatically receipt their rent. You would receipt the remaining rent in Cloud manually for the other tenants not using Console Pay
Yes you can.
Yes. You can invoice tenants for their rent and use direct debit to collect the rent and receipt it using Console Pay.
Yes. Not all of your tenants are likely to sign up at once, so you can continue receipting rent using other methods until they do.
Agencies get the optimal benefit in time saved when they have most of their tenants paying by Console Pay, as the majority of their rent receipting is automated in this case, so we recommend using our Concierge Team to assist with bulk onboarding your tenants.
No. There is no need to download separate files and import them to the Bulk Receipting screen. Console Pay is fully integrated and automatically pulls settled transactions into Cloud, ready for you to receipt.
If the debit is scheduled for a weekend or public holiday, it will be debited on the next working day.
Console Pay allows you to receipt transactions by the date they occurred, so you can easily see, select and receipt the transactions that settled up to the end of month, reconcile and close your month.
Other payment providers delay all settlements up to 4 days, which means you’re waiting a lot longer for the money; or they deposit uncleared funds into your trust account, which leaves you dealing with dishonours regularly.
Ezidebit will settle funds to your trust account in 2 business days (usually 1 day for credit card transactions). There is a very small number of cases (3 out of every 8000 transactions that Ezidebit process, or 0.0375%, on average) where the banks notify very late that a payment has failed, and this is called a “late return”.
In those rare cases the next day’s settlement from Ezidebit will be “short settled” and if the transaction had been receipted this will need to be reversed.