first_imgA new direct-debit rent collection system that significantly reduces the amount of time agents spend chasing late or non-payment of rent, and that takes tenants “minutes to set up” has been launched.Created by Lincoln-based firm PAID & CO, which is part of the Barbon Insurance Group that owns Homelet, the system uses a “socially positive incentive” carrot-and-stick approach to reward regular payers.The PAID & CO system is a cloud application and replaces traditional standing orders, which can be cancelled by tenants in order to avoid paying rent, with a web-based tool that uses BACS payments.Unofficial overdraft“Financially astute tenants often cancel standing orders ahead of when rent was due, effectively using their rent payments as an ‘unofficial overdraft’ to help meet other living costs,” the company says.Its system rewards regular rent payers with better credit scores across the UK’s three main reference agencies, SMS and email reminders of when rent is due, real-time direct debit cancellation alerts for agents and a payment ‘retry’ service.The company quotes recent Homelet research that shows half of all landlords have had a ‘problem tenant’, that two-thirds of difficulties with tenants involve rent arrears and that 68% of landlords have experienced problems with late payments.It is claimed that the tech developed by PAID & CO enables letting agents to identify serial non-payers more quickly, rather wasting time chasing tenants who have forgotten to pay their rent.Paid & Co also provides client letting agents with a real-time dashboard of payments, allowing quick and easy reconciliation.“The use of technology, along with easy to implement direct debits, has greatly benefited other sectors – our goal is to apply similar technology to create a major step forward for the letting market,” says Tim Rooney, CEO of PAID & CO (pictured, left)“We designed our system to remove the hassle from rent collection and, through greater transparency, foster a positive, collaborative approach between letting agents and tenants. Letting agents will have much less administration, and tenants will get recognition of good rental payment which will support an improved credit rating.”PAID & CO HomeLet Tim rooney June 29, 2017Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » New rent collection tech puts paid to standing orders previous nextProducts & ServicesNew rent collection tech puts paid to standing ordersA BACS-based system has been developed that helps agents track and chase-up rental payment online.Nigel Lewis29th June 201701,185 Viewslast_img read more

first_imgMV Allegoria, a Post-Panamax containership operated by Hapag-Lloyd, has suffered a main engine problem off Freeport, the company informed.The 5,527 TEU vessel is currently at anchor in Freeport for repairs, which are expected to be finalized early next year.Subsequently, MV Allegoria is scheduled to continue its voyage from Miami on May 30, 2018, according to the company.The 2006-built ship is deployed in the company’s Mediterranean Gulf Express (MGX) service connecting America with the Mediterranean.“We have re-assigned vessel positions in the service and updated the MGX schedule to ensure again a weekly sailing frequency,” Hapag-Lloyd said.last_img read more