Zenbase, a leading fintech company, has announced a partnership with Mainstreet Equity, a real estate company, to offer flexible rent payment alternatives to tenants in more than 16,500 units in British Columbia, Alberta, Manitoba, and Saskatchewan. The new system, which will be rolled out in the coming months, will allow tenants to pay their rent on a schedule that works best for them, rather than the traditional monthly model.
Residents can divide their monthly rent into two instalments with the help of the personal budgeting tool offered by Zenbase. In addition to easing their residents’ financial burden, this enables Mainstreet to provide even more value to its residents.
Koray Can Oztekin, CEO and Founder of Zenbase, said, “We collaborate with like-minded companies who want to improve the financial health of their residents by offering our powerful budgeting tool. Mainstreet has embraced our solution to empower their residents to make budgeting easier with increased cash flow for other expenses between paychecks while never having to worry about paying their full rent on the 1st of the month.”
The new system will allow tenants to choose from a variety of payment options, including weekly, bi-weekly, and monthly payments. Tenants will also have the ability to change their payment schedule at any time, giving them complete control over their rent payments.
“Zenbase has delivered an easy-to-use and convenient payment option that has proven to be valuable for our residents, helping to relieve financial pressures by splitting rent payments throughout the month. Our residents are important to us, so Mainstreet will continue to explore innovative means to support the communities we serve and improve the housing affordability experience for our residents”, said Trina Cui, CFO of Mainstreet Equity.
The partnership between Zenbase and Mainstreet Equity is the latest in a series of collaborations between fintech and real estate companies, as both industries continue to seek out innovative solutions to meet the changing needs of their customers. The new rent payment system will be available to tenants at all of Mainstreet Equity’s properties in the coming months, and the company is already planning to expand the service to more properties in the future.
Zenbase and Mainstreet Equity’s collaboration will significantly benefit the tenants who are struggling with financial instability and will provide them with an alternative to the traditional monthly rent payment model. This move is a step forward in providing financial flexibility to renters who are facing financial difficulties.
In conclusion, the partnership between Zenbase and Mainstreet Equity is a major step forward in the fintech and real estate industries, providing tenants with more control over their finances and landlords with a more streamlined management process. The innovative rent payment system is expected to be highly successful and is likely to be adopted by other companies in the future.