Does anybody here use Flex Rent or Best Egg to allow their tenants split their rent into separate payments? I just tried launching Flex this month, they pay the tenant's rent upfront to us and take care of collections, credit checks, etc. and charge the tenants a fee for use, seems like Flex is cheaper and doesn't charge interest apparently. Would love to hear feedback if anyone's using it at their properties and what their tenants think, thanks in advance!
I love Flex! Initiated company wise (6K+ units) after testing a handful. If you’d like to hear specifics, I’d be more than happy to share our results! Good luck!
FLEX is user friendly, and helps with property deliquency.
The resident can be set up for auto pay, or if say they get paid on the second or the thing third and still want to use the service, they can manually pay the portion that they need to and still use flex for the month.
I have used it both from a residence standpoint and also from management standpoint and I really like the program
4 hours 18 minutes ago#644565by Lisa Yakubowski Klemas
Flex is great for those who qualify. I am very suprised that I have so many that don't and those are the ones who could especially use it but people who have it love it!
We actually do both with on a portfolio I’m involved with. We actually forgot that we had Flex, once it’s set up, they’re just cut on in the background and handle marketing to tenants. Best Egg is integrated with AppFolio so we just left it on. The adoption rate between the two is about 20% last I checked.
I've used Flex at previous companies. Great for folks that don't get paid by the rent grace period. People who are oncerned with fee, the fee for Flex is much lower than a late fee and late and worth it for no "late payment notices" on their rental history