Best Egg Flexible Rent will be available to more than 12 million residential units whose monthly rent payments are processed through Zego.
Best Egg Flexible Rent allows qualified renters to break up their rent into smaller payments aligned with their cash flow, giving them the flexibility to pay rent on their own unique schedules and the opportunity to build their credit, a release stated.
For a fee paid by the the renter, Best Egg Flexible Rent facilitates the payment of the full rent amount to the property manager, offering renters the flexibility to pay their rent in installments throughout the month. The tool also helps renters establish a record of on-time payments which in turn helps them build credit, Best Egg stated.
The partnership between Best Egg Flexible Rent and Zego aims to boost retention and reduce the costs associated with delinquency, eviction, and turnover.
“Our partners at Zego are committed to offering both property managers and renters streamlined solutions for facilitating rent payments, which is often the largest monthly expense for the more than 48 million renters in the U.S.,” said David Sullivan, general manager of Flexible Rent at Best Egg. “Best Egg Flexible Rent will improve financial confidence among renters and help Zego’s property manager customers attract, retain, and support renters.”
Best Egg Flexible Rent is now available to nearly 10 million renters in the U.S., which is approximately 20 percent of the national renter market.
Further information is available at www.bestegg.com/flexible-rent.
Best Egg is a fintech company that focuses on people working to build a higher credit rating.