How it works
A year’s worth of rental income is at your finger tips. All you need to do is click!
Prefer to chat?
Feel free to call us during business hours (we’re based in Sydney) and we’ll talk you through it.
Calculate
See what you can withdraw upfront.
Get started and check how much of your rental income you can withdraw with just a few clicks.
Request
Submit your request online in minutes.
Choose how much rent you want in advance, select a repayment period and submit your request.
Receive
See your funds in your bank account in 2 days.
Deposits are made to your nominated bank account once your request is approved — typically within 2 days.
Repay
Repayments collected from your tenant’s weekly rent.
We connect with your property manager and collect the repayments from your tenant’s weekly rent.
We understand that tenants are sometimes late, short, or simply can’t pay. That’s why if tenant moves out, falls into arrears, or needs to pay a lower rent, the repayments are automatically paused, or proportionately reduced at no extra cost to you. As usual, if the tenant moves out, the property manager will need to find a new tenant.
Under the agreement that Futurerent has with you, we have a lot of the same rights that you usually have as a landlord to make sure the property manager does their job. Although we have these rights, we generally leave it to the property manager to handle things and it’s very rare for us to get involved.
A simple admin fee on the withdrawn amount of 0.5% per month over the expected term is collected from the rent paid by your tenant. For example, if your property is rented for $700 per week, you can withdraw $36,500 upfront for a admin fee of $42 per week from the rent paid by your tenant (i.e. $36,500 withdrawn multiplied by 0.5% per month is $182.50 per month, or $42 per week).
We calculate what this admin fee works out to over the expected term upfront and fix it. For example, if you choose a repayment term of 1.5 years, the total admin fee is $3,285 i.e. $182.50 per month multiplied by 18 months). This means that if your tenant moves out and the property is vacant and it takes a bit longer to pay Futurerent back, it doesn’t cost you any more than what you expected it would upfront. That’s one of the reasons our clients love Futurerent, there’s no interest or penalties if the repayments take a bit longer.
When you make your withdrawal request, you’ll be asked to choose a repayment term that suits you. If you want to make the repayments low so you can continue to get the majority of the rent, you may want to choose a longer repayment term. On the other hand, if you don’t need a lot of rent after the withdrawal, you may want to choose a shorter repayment term, which will mean higher repayments but a total cost that’s lower because the Futurerent is paid back faster.
Otherwise, the repayments are simple. Your property manager just sets up a monthly payment, which is made from the rent collected from the tenant.
All we need is your driver’s license, or passport number and you and your property managers contact details. From your property manager, we’ll get a copy of the lease (if there is one) and your property management agreement.
We work with all agents. All they need to do is setup a monthly payment, in the same way they’d pay any other bill for you.