RentPay

RentPay is a tenant payment account that schedules rent funding and adds bill smoothing, rewards and an optional credit-building feature. It is best for people who rent through an agent and want payments aligned with payday. Its free account is a practical starting point, but transaction fees and the agent-only restriction are important trade-offs.

Overview

RentPay is built around getting rent to an agent, rather than managing a rental property. Tenants can set recurring deposits and use the account for related bill and rewards features. It is not suitable for renters who pay a private landlord directly.

Key features

Deposits can be scheduled weekly, fortnightly or monthly, with funds debited on payday before rent is due. That can help renters match rent funding to their income cycle. Payment options include bank transfer, PayID, BPAY, debit or credit card, PayPal, Alipay, WeChat Pay and UnionPay; however, the non-zero charges make some methods more costly than others.

Cleared funds earn 2.50% p.a. before payment to the agent’s trust account. Interest applies to balances up to $9,500, and the wallet’s maximum balance is $9,999. These limits keep the interest feature focused on rent money passing through the account, not larger savings.

Bill smoothing lets tenants spread payments to any Australian bill provider across weekly, fortnightly or monthly contributions. Paylab rewards can reach 15% at more than 140 Australian retailers, with rewards transferable to the RentPay account. These extras may be useful alongside rent payments, but neither changes the account’s core agent-payment eligibility.

Scorebuilder reports account status monthly to illion. Any drawn funds are repaid by automatic debit over four fortnights, so it brings a repayment commitment as well as a credit-building purpose. RentPay says funds are held in an Australian bank trust account and personal and payment information is stored in a secure high-security data centre; it also states that it is PCI compliant and audits its security practices annually.

RentPay works alongside existing agent trust-accounting software, supporting BPAY/DEFT or bank-transfer/OSKO payments to agents. Tenants can view rental payment history in the app, but cannot download it. Australian-based phone, email and live-chat support is available Monday to Friday, 8:30am to 6:30pm AEST.

Pricing

RentPay account

The RentPay account costs nothing, with $0 monthly fee, $0 to sign up and $0 to send money. Payment-method charges still apply: 1.15% for credit/debit card, 1.75% for PayPal, 1.50% for Alipay/WeChat Pay, 2.20% for UnionPay and $1.00 for BPAY. This is the sensible plan for tenants who can use free methods or accept the fee for their preferred option; “free” does not mean every way of paying is free.

Scorebuilder

Scorebuilder has a A$5, paid once application fee, up to $500 credit, a $1.50 monthly account fee, a $4.00 fortnightly usage fee with an outstanding balance and a $15.00 missed-payment fee. It may suit a tenant who specifically wants the credit-reporting feature and can manage the repayment schedule, but it is not a low-cost add-on for someone only seeking rent scheduling.

Platforms

RentPay is available on Android, iOS and the web. Its tenant payment portal, autopay and payment reminders support recurring rent administration across those platforms.

Who it's for

Choose RentPay if you rent through an agent, want to set deposits around payday and value bill smoothing or the interest on cleared rent funds. Look elsewhere if you rent privately, need downloadable rental-payment records, or want a payment account without method-specific charges.

Pros and cons

• Pros: Weekly, fortnightly and monthly schedules can align rent funding with different pay cycles.
• Pros: A broad range of payment methods, bill smoothing and transferable retailer rewards extend the account beyond rent alone.
• Cons: Eligibility excludes tenants renting directly from private landlords.
• Cons: Card, wallet and BPAY charges can make the nominally free account costly depending on payment choice.
• Cons: The wallet and interest caps constrain how much rent money can benefit from interest, and payment history cannot be downloaded.

Alternatives

For a broader tenant-service mix, Rentberry has a free tenant plan with rent negotiation, support, maintenance requests, property tour requests and eSign with cloud storage. Baselane Rent Collection is a better fit for landlords seeking banking and bookkeeping alongside automated rent, reminders and late fees: its Core plan is free and it also offers a Smart plan.

RentMerchant is worth considering for landlords managing up to three properties on its free plan, or needing unlimited properties and units on Pro at $15 a month billed annually. Dawzer RMS offers a permanent free web plan for up to three units, with 100 MB document storage and every feature included; its Starter plan is $18 a month.

EstateDeck has a free DIY Landlord plan for up to five units, including digital leases, maintenance tracking and a tenant directory; its Professional plan is $1.50 per unit per month. LetSentry may suit a UK landlord seeking certificate reminders, a maintenance portal, GoCardless rent collection and tax records with CSV/PDF exports on a free plan for one property.

NAB Easy Tap is a pay-as-you-go option for eligible Visa, Mastercard and eftpos transactions, with no setup or terminal hardware fees. RentMouse offers web plans for portfolios from one property and unit to unlimited properties and units.

Browse more options in Rent Payment Software.

Verdict

RentPay is a good fit for agent-renting tenants who want to schedule rent deposits around payday and make use of bill smoothing or rewards. Its free monthly account fee is appealing, but payment charges, the wallet caps and Scorebuilder’s ongoing fees deserve attention. Private-landlord renters and anyone who needs downloadable payment history should choose another service.