FeaturesRent collection
Rent that arrives without you asking twice
Direct Debit set up from one link, a ledger that fills itself in, and an arrears chase you can switch on. Each payment is recorded against the right tenancy, so the rent roll, the arrears and the tax figures come from the same place.
- No commission on your rent
- Paid straight to your Stripe account
- Tenant needs no account
How it works
- 01Add the property and the tenancy
- 02Connect Stripe and send the tenant a link
- 03Collection starts on the due date
- 04Late rent is flagged and, if you choose, chased
The short answer
What is rent collection software?
Rent collection software takes the rent from the tenant, records it against the right tenancy and tells you when something has not arrived. It replaces a standing order the tenant controls, a bank statement read by eye and a spreadsheet updated afterwards.
LetCompliance collects by Direct Debit through Stripe. The tenant confirms a mandate once, from a link, without creating an account, and collection starts on the due date each month. The money goes to your own Stripe account, and LetCompliance takes no commission on it.
Every collection posts into the property’s ledger and into Finance, and Stripe’s Direct Debit fee is logged as an expense on its own. Payments you receive another way can be recorded against the same tenancy, so the rent roll and the tax figures stay complete.
If rent is late, you can switch on an arrears chase: a reminder email to the tenant, in your name with replies coming to you, repeated on the interval you choose. A rent statement for any tenancy is one download, month by month.
What it does
Three things that stop rent being a monthly job.
Direct Debit, set up once
The tenant follows a link and confirms a mandate on their phone. Collection starts on the due date every month, and Bacs Direct Debit then takes about three working days to clear. While a mandate is being set up, a one-off card payment link covers the first month.
A ledger that fills itself in
Collections post against the tenancy they belong to. The arrears figure, the rent statement and the property’s income all read from the same ledger, and a bank statement import suggests matches for rent paid another way.
A chase you can switch on
Off until you turn it on. Then an overdue tenant gets the same polite reminder every two, three, four or seven days, up to five times, sent in your name with replies to you. You can also send tenants a reminder a few days before rent is due.
In detail
What rent collection records
The detail behind the headline features.
- Rent statements
- Month by month for any tenancy: charged, paid and the balance carried forward, with totals and the longest unbroken run of unpaid months.
- Ground 8 flag
- When arrears reach three months’ rent, the tenancy is flagged, with a forecast of when the threshold will be reached if nothing is paid.
- Rooms in an HMO
- Each room carries its own rent and its own collection, so one tenant leaving does not disturb the others.
- Past months backfilled
- Rent from before you joined can be added in one go, so the ledger starts complete.
- Fees recorded for you
- Stripe’s Direct Debit fee is logged as an expense automatically, next to the rent it relates to.
- Your own reminders
- You are reminded three days and one day before rent is due, on the day, and three days after if it has not arrived.
Step by step
From set-up to the first collection
- Step 1
Add the property and the tenancy
Rent amount and start date; monthly rent is due on the same day each month. A room in an HMO is set up the same way, with its own rent.
- Step 2
Connect Stripe and send the tenant a link
You connect your Stripe account once. The tenant confirms a Direct Debit mandate from the link, using their email address, with no account to create.
- Step 3
Collection starts on the due date
Each month, without a reminder from you. The payment clears in about three working days and reaches your bank on your Stripe payout schedule.
- Step 4
Late rent is flagged and, if you choose, chased
A failed payment shows against the tenancy, and the arrears chase follows up if you have switched it on.
The difference
The same rent, without the admin
By hand
In LetCompliance
Checking the bank app on the first of the month
Payments posted against each tenancy automatically
A standing order the tenant can change or cancel
A Direct Debit mandate collected on the due date
Writing an awkward chaser every few days
An arrears chase in your name, on the schedule you pick
Building a rent statement by hand for a dispute
A month-by-month statement for any tenancy in one download
Same account
Rent is one part of the let. The rest is in the same login.
A rent tool on its own leaves you running the tenancy somewhere else. These sit on the same properties and the same tenants.
See every feature- Adverts, applications and viewings
- Receipts read into your expenses
- Figures for Making Tax Digital
- Rent statements for any tenancy
- A 0 to 100 compliance score for every property
- A free tenant portal, no password to remember
Questions
Questions, answered
Which plans include rent collection?
Collecting rent by Direct Debit is on the 14-day trial and the paid plans, from £14.99 a month, for landlord accounts rather than agency workspaces. If your plan later lapses, collections already running carry on. Recording rent you receive another way is part of Finance, which is free for one property.
How does the tenant pay?
By Direct Debit. You send a link, the tenant confirms a mandate on their phone using their email address, and collection starts on the due date each month. They do not create an account or choose a password.
When does the money reach my bank?
Collection starts on the due date and Bacs Direct Debit takes about three working days to clear. The payout from Stripe to your bank then follows the schedule you set in Stripe, so we do not promise an arrival date.
Does LetCompliance hold my rent?
No. Rent is paid into your own Stripe account and LetCompliance takes no commission on it. Stripe charges its own Direct Debit fee, which is recorded as an expense for you.
What happens when a payment fails?
Stripe reports the failure once the Direct Debit cycle has run, the tenancy shows the missed payment, and if you have switched on the arrears chase the tenant starts receiving reminders in your name.
Can I produce a rent statement for an accountant or a deposit dispute?
Yes, for any tenancy: month by month, what was charged, what was paid and the balance carried forward, with the totals and the longest unbroken run of unpaid months. It uses the same rule as the arrears figure everywhere else, so the statement and the screen agree.
Can I still record rent paid another way?
Yes. Rent paid by bank transfer, standing order or cash can be recorded or marked as paid against the same tenancy, and a bank statement import suggests matches, so the ledger stays complete.
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Built by a landlord, for landlords.
I let property myself, so I know what it costs to juggle an agent, a spreadsheet and a handful of reminder apps just to stay on the right side of the law. LetCompliance puts all of it behind one login: advertise the property, take applications, collect the rent, and keep every certificate and notice in order, each taken straight from GOV.UK.