Frequently Asked Questions
PerfectPayRent is a rent payment app allowing landlords and tenants to reposition and reimagine a stronger, more stable, and relevant leasing partnership. If you are renting a new property, PerfectPayRent is the perfect choice for you.
The PerfectPayRent App is a simple, cost-effective on-line rent payment platform for tenants that allows you to pay your rent on-time and access a suite of other great solutions for renting.
The PerfectPayRent App allows you to make your rent payments from your own bank, credit cards, or pay your rent in convenient cash payment locations while allowing you to access PerfectPayRent payment solutions so you can pay your rent on-time.
Your rent needs to be paid on the first day of the month as detailed in your lease agreement. If you cannot make your rent payment on the due date, contact us early on the PerfectPayRent App so you can utilize the solutions available.
Tenants renting a new property from a landlord and PerfectPayRent means the following:
- We guarantee a tenant’s rent and damage deposits to a landlord, so tenants do not need to pay security deposits when renting a new property.
- If a tenant notifies PerfectPayRent that they are going to be late paying their rent, we will pay their rent on time (allowed once a year). Rent payment must be paid back within three weeks to avoid late fees.
- If requested by an eligible tenant, we will advance one month’s rent once a year without fees, as long as the tenant pays us back within three months of our rent advance.
- If an eligible tenant loses their employment or contract, we may pay the landlord up to three months of rent. Eligible tenants will not have to pay us back.
- We pay the tenant’s Renters Insurance premium cost for the term of the lease agreement.
- We report a tenant’s rent payments to credit agencies so tenants can build, protect, and improve their credit history.
PerfectPayRent is compliant with the federal Fair Credit Reporting Act (FCRA). The FCRA promotes the accuracy, fairness, and privacy of information in the files of consumer reporting agencies.
- You will be required to fill out an online rental application and PerfectPayRent registration to rent your new property.
- We will process your rental application and confirm you are a qualified tenant to rent your new property from the landlord and PerfectPayRent.
- A licensed insurance agent will process your Renters Insurance application.
- You are required to sign your new lease agreement with your new landlord and the PerfectPayRent Tenant Agreement.
The legal co-tenant will be required to fill out an online rental application and PerfectPayRent registration as a joint tenant.
If you need a personal lease guarantor or co-signer, then they will be required to fill out an online rental application and PerfectPayRent registration as a co-signer or personal lease guarantor.
No problem, you do not need to access PerfectPayRent allowances when renting your new property, however we will not be able to provide you with any of the PerfectPayRent allowances.
Your landlord may still accept you as a tenant when renting, but we will not be able to provide you with the PerfectPayRent allowances.
Yes. We will connect you to landlords that have new properties to rent. Get pre-qualified as a tenant with PerfectPayRent.
It is a legal agreement between PerfectPayRent and you. Make sure you read the PerfectPayRent Tenant Agreement and obtain professional advice before signing. The term is 12-months and must be renewed upon consent between us, you, and your landlord.
Speak to your licensed insurance agent to obtain information on your Renters Insurance.
Contact PerfectPayRent: info@perfectpayrent.com
Contact a Licensed Insurance Agent: kishanalexander@worldinsurance.com
PerfectPayRent is a rent payment app allowing landlords and tenants to reposition and reimagine a stronger, stable, and more relevant leasing partnership. PerfectPayRent is a Lease Co-Guarantee, guaranteeing your rent is paid on-time on the 4th business day of each month, even if the Tenant is late or unpaid.
PerfectPayRent App is a simple, cost-effective online rent payment platform for landlords and tenants.
The PerfectPayRent App allows tenants to make rent payments from their own bank, credit cards, or via convenient cash payment locations while allowing tenants to access PerfectPayRent payment solutions so tenants can pay their rent on time.
PerfectPayRent collects the rent on the the first day of the month via the PerfectPayRent App.
You determine the net base rent each month. We will set the rent amount to be paid by the tenant in accordance with the Lease Agreement.
- We collect the monthly rent at our cost.
- PerfectPayRent lease co-guarantee will deposit the tenant’s rent into a landlord’s bank account on the 4th day of the month, even if the rent payments are unpaid or delayed.
- We pay up to 12 months’ rent to landlords even if there is a rent loss.
- We guarantee lease security deposits and pay them to you if there is a rent guarantee loss.
- We will pay the tenant’s Renters Insurance for the term of the tenant’s lease agreement.
Tenant’s renting a new property from a landlord and PerfectPayRent means the following:
- We guarantee the tenant’s rent and damage deposits to a landlord, so tenants do not need to pay security deposits when renting a new property.
- We will pay a tenant’s rent if their rent is late for up to three weeks without late fees (allowed once per year).
- If requested by an eligible tenant, we will advance one month’s rent once a year without fees, as long as the tenant pays us back within three months of our rent advance.
- If an eligible tenant loses their employment or contract, we may pay the landlord up to three months of rent. Eligible tenants will not have to pay us back.
- We pay the tenant’s Renters Insurance premium for the term of the lease agreement.
- We report a tenant’s rent payments to credit agencies so tenants can build, protect, and improve their credit history.
- Tenants are required to complete the online rental application and the PerfectPayRent registration to qualify to rent your property.
- PerfectPayRent will process a tenant’s rental application for you and confirm a tenant is qualified to rent your property.
- A licensed insurance agent will process a tenant’s Renters Insurance application to qualify.
- The landlord and tenant are required to sign the lease agreement and the tenant is required to sign the PerfectPayRent Tenant Agreement.
Any legal co-tenant will be required to fill out an online rental application and PerfectPayRent registration as joint tenants to qualify to rent your property.
A tenant’s co-signer will be required to fill out an online rental application and PerfectPayRent registration as a co-signer or personal lease guarantor.
PerfectPayRent screens all tenants, co-tenants, and personal lease guarantors (co-signers) in the application process before we qualify tenants to sign your Lease Agreement and rent your property.
PerfectPayRent agreements between us, you and your tenant is optional, although we will not guarantee your rent, or provide allowances to your tenants and will not enter the Lease Co-Guarantee agreement with you.
Yes. This is your property and we want to ensure that you are comfortable with the selection of the tenants living in your unit.
Yes, the PerfectPayRent platform enables potential tenants to find your property and can be pre-qualified as a PerfectPayRent qualified tenant for your property.
No. Your rights remain intact.
No. You still have to manage and maintain your property, pay your expenses in normal course, and proceed with tenant notices and evictions when directed by us.
It is a legal agreement between us and you. Make sure you read the agreement and obtain professional advice before signing. The term is 12-months and must be renewed upon consent between us and you.
Speak to your licensed insurance agent to obtain disclosures regarding our Lease Co-Guarantee.
PerfectPayRent: info@perfectpayrent.com