After the credit card surcharge ban, rent platforms add new fees
At least 1.2m rent payments a month go through these platforms, which now charge new fees.
The Reserve Bank banned card surcharges from 1 October. Online rent platforms now charge renters new fees or paid memberships to avoid card processing costs.
At least 1.2m rent payments a month in Australia go through these platforms, typically on property managers' instructions. OurProperty stopped taking direct card payments across the country.
Its founder, Russell Burstow, said payments would now go through Pay4it, which charged its own 1.95% service fees. Burstow said refusing cards would put customers who relied on credit cards into rental arrears.
Victoria has banned rent-tech companies from charging rent payment fees since March. Melbourne tenant Hazel Kearns-Rees said calling the fees memberships feels pretty unethical.
Deakin University senior lecturer Dr Fengfei Li says tenants can decline a fee where the service is optional.
- At least 1.2m rent payments a month
- Platform rent payments
- 1.95% service fee
- Pay4it charge
- 1 October
- Card surcharge ban
- Rent-tech fees banned since March
- Victoria rule
Why it mattersEvery state requires at least one fee-free way to pay rent, so renters can ask for it before paying a new fee.
AustraliaRenters outside Victoria can still be charged fees for direct debit and automated transfer on OurProperty.
✓ Claims checked against the source. checked 1 h ago
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