Property technology Goodlord has revealed details of a new scheme designed to ease cash flow pressures on letting agents and ensure they can continue to support new and existing customers throughout the pandemic. The scheme covers new transactions as well as offering free tenancy renewals.
The Pay As You Get Paid option will allow agents to suspend their monthly subscription fee for access to the Goodlord platform and instead pay a set fee per transaction. This new offer is designed to support agents with their cash flow during this period and ensure they are in a strong position to capitalise on pent-up demand set to be released when social distancing rules are lifted.
With tenancy renewals likely to be a focus of most lettings operations in the next few months, and with agents needing to handle the work remotely, the company is also making any tenancy renewals with a contracted date on or before 30 June 2020 free of charge via the Pay As You Get Paid option.
Those who wish to transfer historic tenancies onto Goodlord in order to take advantage of the offer are able to do so.
Goodlord’s new structure aims to provide financial relief at this critical time, as well as enabling agents to offer streamlined, digital services that not only support their tenants and landlords, but also enable their operations to be handled remotely.
The Pay As You Get Paid option will stay in place until partner businesses return to normal trading or 30th September 2020 - whichever happens sooner.
Tom Mundy, COO at Goodlord, comments:
“As a company, we put our customers first. As a transactional business, Goodlord is also feeling the effects of Covid-19. However, our objective is to protect the long term relationships we have with our customers, and we’ve structured this offer to help us do that. We believe by working together in this way we’ll all come out of this stronger. We only win when our customers win.
This news follows an announcement last week from Goodlord that their Rental Protection Insurance product has been updated to ensure claims can still be processed, despite new rules around evictions, protecting landlords from financial loss wherever possible.
The team are also offering remote onboarding to the Goodlord platform to ensure teams are prepared to handle what’s predicted to be a busy period immediately following the lockdown.