Rent payment terms

Terms agreed between owners and tenants in relation to paying rent, includes: rent amount, frequency and payment method.

Rent payment terms are agreed by both parties upon signing a lease agreement and saved in Cubbi. You can view these terms on the Lease page on your Cubbi Dashboard.

There are two different parts to rent payment terms:

  • Rent: This is the amount payable and when.
  • Payment method: Agreed way on how the tenant is to pay rent.

We will go through each term below in more detail. To edit these terms during the tenancy, they must be agreed upon by both parties.

Rent

Amount: 

Rent payable on or before the due date.

To clarify, rent is always paid in advance on or prior to the rent due day. It's much like a pre-paid mobile phone plan, where you make a payment and it buys you time to live in the property. Learn more.

Due: 

How often rent is due and when.

For example, rent is due Monthly on the 22nd.

How often - This is the frequency rent is due, either weekly, fortnightly, four-weekly or monthly. Each state has different amounts that can be charged in advance. In Cubbi, when creating a new tenancy the default frequency of payments is based on the maximum of rent that can be charged in each state, ranging from 2 weeks to 1 month. Learn more.

When - This is the date or day when rent is due. (eg. on the 22nd or every Friday fortnightly).

When moving into a property the initial lease start date is the date the first rent payment is due and acts a anchor that sets the due date/day going forward, as rent is payable every period thereafter.

Owners and tenants can both agree to change the frequency or move the due date during the tenancy. Learn more.

Note: Changing the rent due date will auto adjust the AutoPay schedule if the tenant is paying rent on AutoPay.

Payment Methods

With Cubbi we have three different payment options for tenants to pay rent, PayID, BPAY or AutoPay. Owners have the ability to make AutoPay always on, or optional, meaning tenants are either restricted to pay rent via AutoPay or provide the tenant the choice to freely pay rent via PayID, BPAY or AutoPay.

AutoPay (Always On)

The tenant is unable to turn off their AutoPay. They can, however, change the number of days the rent is deducted before the rent due date and update their bank account. Tenants can still pay via PayID and BPAY anytime, this is useful if a AutoPay payment fails or for one-off invoices like water.

How to make AutoPay always on

AutoPay (Optional)

This simply allows the tenant to decide if they want to pay rent on AutoPay or not. They can freely turn their AutoPay on and off.

How to make AutoPay optional

Always On vs Optional

Making AutoPay Optional is for tenants who want extra control or flexibility on how they pay. If the tenant is on a tight budget they should be extra diligent over their cash flow and paying their bills before AutoPay is made optional.

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