Why does Cubbi request tenant bank details in the application form?
Cubbi aims to streamline the process of setting up a new tenancy as much as possible by creating an automated flow from application through to tenancy activation guided by the owner and tenant.
This flow covers everything from receiving applications, approving applications, lease creation and initiation of the direct debit rent payments.
When a tenant is approved by an owner their details get added to the tenancy attached to that property in the Cubbi system so that as soon as the tenant signs the lease the first rent payment is automatically activated, using the bank details from the application form, to secure the tenancy for both tenant and owner.
Requesting the bank details during the application phase eliminates the need for lots of back and forth trying to get all of these details after a tenant gets approved.
You can move from 'Approved' to 'Tenancy Activated' in minutes because everything is already there ready to go!