Our White Paper, Paid in full: Putting residents in control, published in March 2021, looks at rent-flex as an empowering solution to tenancy sustainment challenges.
The White Paper draws on the results of a rent-flex pilot with Optivo tenants to determine the key benefits of the service. These include:
- Improved engagement: tenants liked the concept of rent-flex and were more likely to engage with it than with existing financial or budgeting support services
- Increased financial benefits to residents: as part of the onboarding process residents were able to be engaged with budgeting support and income maximisation services which yielded significant benefits.
- Improved rent payment: residents who completed twelve months of rent-flex in the manual pilot paid 98.4% of their contractual rent, compared to 90% of the control group.
- Improved relationships and satisfaction: there was an increase in inbound contact from residents using rent-flex, as well as greater success with outbound contacts, and the quality of conversations with tenants increased. Overall, rent-flex boosted resident satisfaction levels with the organisation.
The rent-flex approach to income collection could transform the landlord-tenant relationship by creating a joint planning approach to the management of rent payments, improving residents’ financial resilience, health and wellbeing, and giving them greater control of their finances and lives.