Available now on the iTunes Store and via its Website, Pay with RadPad lets renters pay their rent on their iPhone the same way they request an Uber, or pay for coffee at their neighborhood Starbucks.
Renters can use Pay with RadPad to set up a recurring rent payment with a credit or debit card in about 90 seconds. Renters simply use the “My Rent” button to enter what they pay each month for rent and its due date. They then fill in the name of the company or individual they make payments to and the address they mail checks to. Finally, renters choose what credit or debit card they would like to use for payment, and RadPad ensures that the renter’s rent is paid on time every month, even if their landlord isn’t signed up on RadPad.
“Approximately $350 billion in housing rent is written out on checks or given in cash annually and until now more than 90 million renters in the U.S. didn’t have an option to use their credit or debit card to pay their rent,” said Jonathan Eppers, co-founder and CEO of RadPad. “Unlike other payment services that are web-based, only offer ACH, and require both the renter and their landlord to use the service, we built Pay with RadPad to be mobile, Credit and Debit and independent of whether the landlord uses RadPad.”
“Paying rent is one of the biggest monthly payments a renter makes so it is incredibly important to us that we get it right,” Eppers noted. “In early August we invited over 50 renters to quietly try Pay with RadPad to pay their September rents. We processed over $60,000 in rent payments and 100% of the landlords received their renters rent payment on time.”
Shelby DeNike, a 34 year-old renter from Boulder, Colorado was part of the test group, “My rent check was literally the only check I wrote every month. It was awesome to be able to plug in my payment info one time knowing I wouldn’t have to worry about it again. My landlord also got the check on time and he said it was easy to tell it was from me.” For renters with roommates, Pay with RadPad also makes paying their rent just as easy.
Renters who Pay with RadPad also build a payment history that is stored to their RadPad profile and used in the future when the renter applies for a new apartment.
“A lot of us renters live check-to-check and it’s not uncommon anymore for renters to spend more than 40% of their monthly income just on rent; causing a lot of financial anxiety every month when the rent is due,” added Eppers. “Pay with RadPad gives renters that financial safety net while also guaranteeing their rent is always paid on time.”
Pay with RadPad accepts Visa, MasterCard and Discover, with American Express coming next month. RadPad also plans to offer Apple Pay in the near future. Renters pay a flat $4.95 per month for debit rent payments and 3.25% of the monthly rent amount for credit payments.
In addition to launching Pay with RadPad, RadPad’s iOS app has been redesigned and includes several new features that make it even easier for renters to find apartments and homes for rent.
RadPad now allows renters to put in a location, like where they work or hang out and than calculates the drive time, metro time, bike and walk times to the prospective new apartment.
It introduced high definition, full-screen photos powered by a photo enhancer that converts low quality images uploaded by landlords to higher resolution photos.
With rent prices skyrocketing, it also added ‘Average Rent Price’ to all listings so that renters can easily see how the cost of an apartment compares to similar apartments nearby.
For more information, visit RadPad.
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