Flex App: How To Pay Rent In Installments
In this article, you will learn about Flex which is an app that will help you pay went in installments.
If you are struggling to pay rent on time every month and tired of dealing with inflexible payment options and late fees, Flex may be able to help you. Many renters face these challenges every month, which is part of the reason this rent installment app was created.
In this article, we’ll take a closer look at how the Flex app can help you with your rent payments, and why it’s one of the best rent-paying apps out there.
What Is The Flex Rent Payment App?
Flex is an app that helps you manage your rent payments in a way that works best for you. It offers flexible rent payments that allow you to pay your rent in installments, so you no longer have to worry about paying it all at once.
This app is one of the best rent paying apps on the market and can help you pay your rent weekly, bi-weekly, or even monthly. With the Flex app, you can easily pay your apartment rent online, using a rental payment platform that integrates with your apartment’s rent payment portal.
Additionally, the app offers payment plans for rent to help you stay on top of your monthly payments and avoid late fees.
How The Flex App Works
With Flex, you can pay your rent in two payments, allowing you to better manage your cash flow.
Here’s how it works:
- Each month, you pay half of your total rent and finance the other half with a Flex line of credit.
- You have the flexibility to choose your second payment date to better align with your paycheck.
An Example Of How The Rent Installment App Works
Here is an example of how the rent installment payment app works…
If your rent payment is $1,500 each month, Flex will pay the full rent payment amount ($1,500) on the due date. Flex will collect your initial payment of half of your rent ($750) on the due date, typically no later than the 5th calendar day of the month.
Flex will then collect your 2nd payment ($750) on the 15th of the month, or your rescheduled date within the month.
There are no interest rates or late fees when you use Flex. The Flex services are offered for a monthly membership fee of $14.99, which includes access to a Flex line of credit account from Blue Ridge Bank at 0% APR. Flex also charges a payment processing fee, a percentage of the monthly rent payment based on the chosen payment method (0.75% for debit cards and 3% for credit card), assessed on each repayment.
The Flex app makes it easy for you to manage your rent payments, giving you the flexibility you need to pay your rent in installments that work best for you.
How Much Does Flex Cost?
The Flex services are offered for a monthly membership fee of $14.99. Flex also charges a payment processing fee, a percentage of the monthly rent payment based on the chosen payment method (0.75% for debit cards and 3% for credit cards), assessed on each repayment.
For example, if your rent amount is $1,000, the payment processing fee for a debit card is $7.50 ($1,000 * 0.0075). If your rent amount is $1,000 and you pay with a credit card, the payment processing fee is $30 ($1,000 * 0.03).
Flex Membership
The monthly $14.99 membership fee is charged as a subscription service, which means you will be charged the monthly membership fee each month for your ability to access Flex services. The monthly membership fee does not vary based on whether you use the Flex services. The Flex services auto-renew each month unless you cancel your membership no fewer than 5 days prior to the end of the preceding month.
Flex Rental Payment Platform FAQs
Here are more questions that you may have about the Flex app and some of the other services they offer.
Does Flex Pay Utility Bills?
If your utility bill is included in your rent payment each month, Flex will also pay the utility amount.
Can Flex Pay A Portion Of The Rent If I Have Roommates?
As long as you can make partial payments on your rent portal, Flex can pay just your portion of the rent.
Will Flex Pay A Mortgage Payment?
No Flex, does not cover mortgage payments.
Can Flex Help With Apartment Security Deposits?
No Flex, does not help with security deposits.
Conclusion
Flex has become one of the best apps that help pay rent for renters who need to pay rent in installments. With Flex, you can pay your rent in installments that work best for you. This is especially helpful if the time your paycheck arrives does not align with your rent payment.
The Flex app can be an alternative for you if you do not qualify for a rental assistance program and still need help paying your rent.
If you have more questions, visit the Flex website to learn more about this rent installment payment platform.
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Nick Bryant is the author of Understanding Healthcare Is Half The Battle and a Senior Counselor with 13+ years of experience working in community health and mental health. He enjoys spending time with his family, watching WWE on Friday nights, and working toward a Google Data Analytics certification. If you have additional questions about community resources or government assistance programs, simply leave a comment below and he will follow up as soon as possible.
