Most landlords don’t allow for flexible rent payments. Rent is due in full on the first of the month, unless you like paying late fees.
That’s why we started Flex: an app that splits your rent into two smaller payments. With flexible rent payments, you no longer have to pay all of your rent on the first. Instead, you get more control over how you pay your rent.
We believe you should be the boss of when and how you pay rent. And when your payments are aligned with your income, you can worry less and enjoy life more.
How Flex Works
Once you’ve enrolled in Flex, Flex will pay your rent when it’s due. You’ll make two payments: a part of rent when it’s due, and the rest on your scheduled date later in the month.
For example, let’s say your rent is $1,000 and your Flex Line of Credit is $500. On the due date, you pay $500, and Flex pays your rent in full. Midway through the month, you’ll pay the other $500.
With Flex, you don’t have to pay any late fees or interest. Flex Services are offered as a monthly membership with a recurring fee of $14.99, which includes access to a Flex line of credit from Blue Ridge Bank at 0% APR. Additionally, Flex charges a bill payment fee of 1% of your total rent (additional card processing fee applies when using a credit card) which enables Flex to continuously improve the product experience for our members. For example, if your total rent is $1,000, the bill payment fees for your Flex payments would total $10 when paying with a debit card.
Flexible Rent Payments = Less Stress
If you’re like most renters, paying your rent at the start of the month is your biggest expense of the month – by far. By making rent payments flexible, Flex makes your entire budget that much more manageable and reduces the stress of trying to come up with a large sum of cash on a monthly deadline.
Ready to try Flex? Click here to try it out!