Rent tech platforms introduce new fees following credit card surcharge ban

Online property management platforms in Australia are charging tenants new fees or encouraging them to join paid memberships, according to the Guardian. The changes follow a Reserve Bank ban on credit card surcharges that came into effect on 1 October. The platforms are using these new charges to avoid processing costs associated with card payments. [1]

At least 1.2 million rent payments are processed through these digital platforms each month across Australia, the Guardian reported. Tenants usually use these services at the direction of their property managers, and the transactions frequently include additional fees. [1]

Following the implementation of the Reserve Bank rule, the rent tech platform OurProperty confirmed to Guardian Australia that it had stopped its previous surcharge practices. However, consumer authorities and tenancy advocates are encouraging renters to challenge or bypass these extra charges. [1]

Tenants have been urged to seek out fee free options for paying their rent, the Guardian reported. In the state of Victoria, charging fees on rent payments is explicitly banned under local regulations. [1]