Monthly rent payment agency has been created everywhere, and commissions vary widely, and even ‘card crack’ warning lights
Recently, monthly rent and management fee payment agencies have been popping up everywhere. However, it is pointed out that the fee structure of each company varies widely, the service method is anomalous, and there is a high possibility of illegality.
In particular, in the case of payment agencies capable of “immediate remittance” and “non-monthly rent item payment”, bypass payments are made through the third PG rather than the official payment agency (PG), which poses a high risk of limiting payment limits and illegal remittance.
According to related industries on the 26th, monthly rent and management fee payment agencies, so-called pay companies, have recently emphasized the convenience of payment and are attracting tenants with low fees of around 1%.
However, it is pointed out that most of the bypass payment methods use the third PG, so there is a high risk of approval limit restrictions or payment errors.
The monthly rent and management fee payment agency collects fees by paying the landlord in the name of the tenant instead when the tenant pays the monthly rent and management fee by card to the agency.
Experts said, “It is true that such a commission rate is impossible with a legal first PG contract,” adding, “It is necessary to check whether we have signed an official first PG contract.”
Paysa, which promotes “immediate remittance, 24 hours of monetization,” are also showing problems. This is because it is far from the normal PG structure allowed by financial authorities, and in fact, it is similar to the structure of card fraud (illegal discount loans that receive cash after making payments as if buying goods with credit cards) or illegal loan businesses.
It is pointed out that if various items such as deposits, interior expenses, rental expenses, and even labor costs are paid on behalf of monthly rent payments, it is highly likely to violate the credit-specialized financial industry law.
It is often the case that the verification procedure to consider card illegality is ignored. It is necessary to thoroughly check whether illegal payments are made in advance, but some companies are only emphasizing cost reduction and speed and omitting them.
Financial experts pointed out, “If various cost payment services under the guise of monthly rent payments spread, consumers can bear unnecessary debt burdens,” adding, “In addition, there is a high possibility of long-term damage such as failure to pay, delayed settlement, and legal disputes.”
Accordingly, the industry agrees that it is important to have a professional operating entity along with the voice of midnight.
Currently, many pay companies are operated by platform companies that are not related to real estate. They aim only to enter the market in the short term, so they immediately close their business or avoid responsibility in the event of a problem.
On the other hand, payment companies with real estate expertise already have the ability to prevent and resolve disputes because they understand the structure of lease contracts and market characteristics.
“Since the introduction of the monthly rent card payment system, everyone has entered the market as an agency,” an industry official said. “It is necessary to clearly inform consumers of concerns about payment stability and illegal risks hidden behind sweet phrases such as ‘low commission’ or ‘immediate remittance.”
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