Rent Collection

Are you paying for your rent collection? What are you actually getting for that payment? With Mashroom’s Rent Collection Plans, you get your rent plus additional protection.

Rent Collection

What is a Rent Collection Plan?

A rent collection plan is so much more than collecting your rent and depositing into your bank account for a fixed fee. A rent collection plan offers your additional protection and support:

  • Tenants set up a standing order, and you receive your rental income via our open banking partner Token
  • If there is an issue, we chase tenants as part of our rent collection service so you don’t have to shout, ‘My tenant is not paying rent on time’ and hope someone hears you!
  • We take away the stress of chasing tenants to pay the rent 
  • From the tenant’s end, they have a simple and easy to use dashboard that gives them full oversight of their payment schedule, including status updates and alerts if the rent is overdue

On top of streamlining the rent collection process and reducing the frustration of chasing, our rent collection plans offer you additional cover so that you can stop worrying about potential arrears or emergencies. It’s a fully comprehensive solution that makes your life easier.

What is a Rent Collection Plan?

What do I receive with a Rent Collection Plan?

We do not believe charging for a simple bank transfer to be a fair way to do business, it would be unfair to fleece you for cash over such an easy transaction. This is why we offer you a fully comprehensive plan to make it worth it and make letting with Mashroom a cost and time efficient way to manage your property

Advance Rent

Advance Rent

With our rent collection packages, you’ll also receive access to our advanced rent feature which allows you to request up to 3 months of rent in advance, for a small fee.

Rent Collection with Money Shield

Rent Collection with Money Shield

Safe, protected and efficient – never wonder where your rent is again. We collect your rent directly from the tenants and pay landlords out on the same day, so you can relax knowing your money is protected by Money Shield.

Same day payouts and updates

Same day payouts and updates

Today, these transactions can be swift, so we don’t hang about – you’ll get your rent as soon as we receive it! And, if there is any delay or issue, we don’t leave you wondering and waiting.

Late payment chasers

Late payment chasers

Never worry about missing a rent payment – we send tenants late payment chasers, to remind them their rent is overdue.

Property performance analytics

Property performance analytics

Knowing how your property is performing is essential for levelling up your landlording business.

Deposit collection and registration

Deposit collection and registration

The tenant’s deposit is secured and registered with the government backed MyDeposits scheme. We’ll send the deposit certificates to you and your tenant.

But don’t just take our word for it - here’s some reviews from our happy landlords!

Unlike any other company we have used in the past. Whole process from start to end was just a pleasure!

Jonny Etherington

I have felt totally at ease using this platform. I would definitely say to friends and family to check you guys out. Well DONE!

Natalie Young

Refreshing and user friendly. So much easier than the traditional process. Being able to speak to the landlords direct and building a relationship of trust early on I found to be hugely beneficial. At last, a unique and time saving innovation.

Allen Panter

Does paying for rent collection give me extra security?

That depends on who you pay and what your plan is. Almost no paid-for rent collection gives you additional security (but definitely double check your contract to be sure!) and that’s why we’re different.

With our dashboard, you have oversight of rent collection as we oversee the payments and chase tenants to pay your rent on time. You can also use your Mashroom dashboard to check on payments and expenses

Does paying for rent collection give me extra security?

How much is it?

We offer 2 packages at Mashroom and rather than charge a flat rate, we charge a percentage of your rent so what you pay will vary from property to property.

Essential Rent Collection Plan - 2%
Secured Rent Collection Plan - 5%

The Essential package comes in at 2% of your rental income.

So if you charge £1000 rent per month, you’ll pay £20 for the following:

  • Deposit registration and deposit disputes assistance
  • Advance rent
  • Rent Collection (protected by Money Shield)
  • Same day payouts
  • Automatic reminders and late payment chasers
  • Rent payment updates in your dashboard & income analytics
  • Eviction and legal expenses insurance up to £25,000

If you would like to see example documents, you can find them here: policy wording and IPID.

The Secured package comes in at 5% of your rental income.

So if you charge £1000 rent per month, you’ll pay £50 for everything in the Essential package, but will also get Rent Guarantee Insurance and Home Emergency Insurance:

  • Deposit registration and deposit disputes assistance
  • Advance rent
  • Rent Collection (protected by Money Shield)
  • Same day payouts
  • Automatic reminders and late payment chasers
  • Rent payment updates in your dashboard & income analytics
  • Eviction, Legal Expenses & Rent Guarantee Insurance up to £25,000
  • Home Emergency Insurance up to £2,500 per emergency

If you would like to see example documents, you can find them here – Eviction, Legal Expenses & Rent Guarantee Insurance: Policy wording and IPID // Home Emergency Insurance: Policy wording and IPID.

Don’t get caught out of pocket

If you don’t want to opt for our rent collection services, you can still protect yourself by purchasing Rent Guarantee Insurance as a standalone product. Leave receiving rent to chance, rent guarantee insurance is definitely the way to go. You may never need to use its might, but you’ll be oh-so grateful if you do.
Rent Guarantee Insurance
Rent Guarantee Insurance
Even the best tenants can run into problems which make it hard to pay rent. Protect your rent up to £2,500 per month.
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What are Property Performance Analytics?

With our Property Performance Analytics Tool, you can see at a glance how your property is performing.

Track your income and expenses

Track your income and expenses

Our tool visualises this for you, making it quick and easy to see if and where you need to save.

Upload receipts

Upload receipts

Store everything you need all in this one place, so you don’t have to go looking for it come tax season.

Status updates

Status updates

Wondering if the rent has been paid yet? Just log in and you’ll be able to see what is awaiting payment, when a payment is received and when it’s overdue, including how many times we’ve chased that overdue payment for you.

Past, present and future

Past, present and future

You can see all the upcoming payments that are due to be made and all past payments.

How do I select my rent collection plan?

As with all things Mashroom, we keep it super simple:

1

List your property

You don’t have to do anything until you’ve listed your property, chosen a tenant and the contracts are signed

2

Pick a rent collection plan

With all that done and dusted, we’ll display 3 options Manual Rent Collection, Essential 2% Rent Collection plan, Secured 5% Rent Collection plan.

3

Wait for your rent to hit your account!

If you’ve opted for the Essential or Secured rent collection plan, all you need to do now is wait until the rent hits your bank account. Don’t forget you can keep track of payment statuses in your dashboard.

Does Mashroom chase late payments?

Yes, we do! Making a payment is easy through Mashroom, but on the occasion when a payment is late for any reason, we jump on that to remind the tenant and get the rent paid ASAP.

You’ll be able to track all of this from our dashboard, including when the rent was due and how many times we’ve chased the tenant.

Isn’t it time you ran for (insurance) cover?

Home Emergency Insurance isn’t so much a ‘nice to have’ as a necessity. Get in touch with us today so we can take care of the whole process on your behalf. We’ll cover you in the event of a (very) rainy day.
Home Emergency Insurance
Home Emergency Insurance
Cover your tenanted property against unforeseen circumstances that make it uninhabitable.
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What if I want to move an existing tenancy onto a paid Rent Collection Plan?

Ok, so this is a little trickier! First things first, do you have a paid rent collection with another agent? If so, you will need to look at bringing this to a close and it may be that you aren’t able to do that until the end of the tenancy.

1

Create an account

Head to you dashboard and select ‘transfer my rent collection’ and answer the short form provided. You’ll then need to choose your rent collection plan.

2

Verify identity

Next, the legal property owner will be asked to verify their identity. This takes just a couple of minutes.

3

We notify the tenant

Once complete, we’ll notify your tenant that you would like to transfer your rent collection to Mashroom. The tenant will then be asked to set up a standing order for regular rent payments going forward.

4

Receive your rent

That’s it! You’ll start receiving rent into your allocated bank account.

Where can I find it?

It’s part of the package when you list with Mashroom, as well as advertising your property for free on Rightmove and Zoopla.

Listing your property with Mashroom is an easy process. When you list with us, we include the Free Recollection Service as standard. So, in short, there is little you have to do to collect the rent.

Where can I find it?

Are other options available?

When it comes to rent collection, you can choose between our Essential 2% rent collection package or the Secured 5% rent collection package. However, if you don’t want to use one of our rent collection plans, you could buy Rent Guarantee Insurance and Home Emergency Insurance (both included in the 5% plan) as stand alone products.

Rent Guarantee Insurance
Rent Guarantee Insurance
Even the best tenants can run into problems which make it hard to pay rent. Protect your income with our Rent Guarantee Insurance, designed for landlords.
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Home Emergency Insurance
Home Emergency Insurance
Cover your tenanted property against unforeseen circumstances that make it uninhabitable, with our Home Emergency Insurance designed for landlords.
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Still have questions? We have answers.

How much does Mashroom charge for rent collection?

How promptly do you pay and when can I expect payments?

How do tenants pay their rent?

Are my payments protected?

Can I switch my current rent collection service to you?

What happens if my tenant falls into arrears?