Solved: How Do You Avoid Transaction Fee for Paying Weekly Property Rent to The REA [Update]

StraightGuy on 15/10/2024 - 16:06
Last edited 21/10/2024 - 11:39 by 2 other users

Hi, I'm a tenant and our agency has advised that they will be switching to "Simple Rent" for weekly rent payments from next week.

The simple rent charges $1.25 per transaction, how do you avoid this? Is this even legal in NSW?

I found the below information on NSW Legislation website.

A landlord or landlord’s agent must permit a tenant to pay the rent by at least one means for which the tenant does not incur a cost (other than bank fees or other account fees usually payable for the tenant’s transactions) and that is reasonably available to the tenant.
Maximum penalty—10 penalty units." This is in Section 35 Pt 2.

Is someone going through the same thing and can provide any insights on this?

Mod: See Update Thread

Financial Rent

Comments

  • sntc on 16/10/2024 - 11:13
    +5

    Renters say they're being 'coerced' onto third party apps like Ailo to make payments
    https://www.abc.net.au/news/2024-08-01/third-party-rental-ho…

    Landlords must allow ‘reasonable’ pet requests and provide free methods for paying rent under NSW government shake-up
    https://www.abc.net.au/news/2024-09-23/nsw-pet-rental-landlo…

    Still they continue…

    • gromit on 16/10/2024 - 12:29
      +3

      then that would be their choice. similarly choosing to take the convenience of their app and pay the fee is THEIR choice to make not the REA's.

  • AustriaBargain on 16/10/2024 - 12:33

    Ridiculous that the investor/REA can't just eat that cost. They used to when they manually reconciled your account back in the day…

  • LFO on 16/10/2024 - 12:45
    +1

    our agency has advised that they will be switching to "Simple Rent" for weekly rent payments from next week.

    What form of payment your current Rental/Lease Agreement Contract has?
    That is the one to be used regardless.

    I gather it was bank transfers so continue doing bank transfers.

  • stuffandthat on 16/10/2024 - 13:17

    How'd you go op? Tell em to shove it?

    • StraightGuy on 17/10/2024 - 09:11

      They haven't replied back yet. Still waiting for them to comment on the issue.

  • FlyingMiffy on 16/10/2024 - 13:57

    … "other than bank fees and other account fees"…

    • samcro on 16/10/2024 - 15:08
      +1

      Yeah, it's not a bank fee though and the "account fees" refers to whether the individuals bank charges for "any" transactions.

    • serpserpserp on 16/10/2024 - 16:36

      A bank fee by the payee. Not enforced by the person getting paid

  • happydude on 16/10/2024 - 16:47

    What does the lease say?

    I believe it will say that you are required to pay by EFT.

    They cannot change the lease mid term to a different payment method.

    • StraightGuy on 17/10/2024 - 09:12
      +1

      The lease says as direct debit to REA bank account directly. That's how I have been paying currently and now they want to change it to 3rd party rent management system.

  • Nuff-Nuff on 16/10/2024 - 17:32
    +1

    My ‘fee free’ method of rental payment is going to a post office. All other normal payments you would expect in 2024 incur a fee! Including direct debit.

    • StraightGuy on 17/10/2024 - 09:13

      What type of payment method is via post office? Currently I have direct debit set to their direct bank account and it doesn't incur any fee.

  • Drakesy on 16/10/2024 - 18:25

    I use my right hand predominantly, but switch it up every now and then.

  • mitt on 16/10/2024 - 23:57
    +1

    When I used to rent one of my REAs did this.

    Their alternative was paying be cheque. I did it every week as I drove past their office on the way to work. I did it on the date it was due & insisted on a receipt every time too.

  • Miss B on 17/10/2024 - 07:45

    As others have said, advise that legally they must provide you with a fee free option and you will continue paying via the only fee free option you have available to you.

    • StraightGuy on 17/10/2024 - 09:16

      Thanks, I'm still waiting for their reply. They haven't provided any comment yet

  • johnfuller on 17/10/2024 - 14:27

    you cannot pass on "fees" that do not exist, if a merchant gets a 1% fee, he can pass it on as 1%, or absorb it

  • bin555 on 17/10/2024 - 20:30

    Where can op complaint? The tribunal?

  • Wilson Wallace on 18/10/2024 - 02:02

    Tell em to shove. They are making the people pay for the SaaS.

  • StraightGuy on 21/10/2024 - 11:12
    +3
    Merged from Thank You Everyone for Providing Support

    Hello,

    Thank you so much everyone for providing your comments and helpful ideas on my post earlier with the title "How Do You Avoid Transaction Fee for Paying Weekly Property Rent to The REA".

    Link: https://www.ozbargain.com.au/node/871670

    I was able to talk to REA and they have finally replied back with a fee free option which is a direct debit option directly to their bank account. This does not incur any fee.

    Thanks once again and have a nice week ahead y'all.

    • DashCam AKA Rolts on 21/10/2024 - 11:22
      +2

      Well done for not putting up with the REA's shenanigans.

    • ThithLord on 21/10/2024 - 11:27
      +1

      Legend.

    • mbck on 21/10/2024 - 11:29
      +1

      Wow nice work!!!!

    • beeawwb on 21/10/2024 - 15:10
      +1

      Awesome outcome, thanks for the update!

  • cupcake on 29/10/2024 - 15:58
    +1

    I'd also like to invoice them for wasting my time.

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