A PropTech firm has issued a dramatic offer to letting agents to pay the company only when they themselves get paid by clients.
Goodlord, which provides software and ‘back office’ services aimed at simplifying the lettings process, says it wants to ease cash flow pressures on letting agents and ensure they can continue to support new and existing customers throughout the pandemic.
The scheme covers new transactions as well as offering free tenancy renewals.
The ‘pay as you get paid’ option means agents can suspend their monthly subscription fee for access to the Goodlord platform and instead pay a set fee per transaction.
It says that with tenancy renewals likely to be a focus of most lettings operations in the next few months, and with agents needing to handle the work remotely, it is also making tenancy renewals with a contracted date on or before 30 June 2020 free of charge via its pay as you get paid option.
This new scheme will stay in place until normal trading resumes, or September 30, whichever happens first.