Hank doors accumulates cash from each tenant under one roof, individually and pools the cash as it comes in for early submission to landlords. Tenant cash management in rising rent environments is crucial to reducing workouts and involuntary evictions.
Offering multiple payment methods gives tenants flexibility and allows them to choose the option that suits them best like payroll dates vs. month end
Hank has greater transparency.
Most landlords apply their debit (PAD) or deposit checks and wait three days, receive an NSF return, then start the cure or eviction process.
Automated curing of lates takes shortfalls of rent for individual tenants and adds it evenly to landlord agreed extended termMost landlords prefer some cash than none and we show Landlords how much cash is available ‘now’ so they can make a determination on whether to accept it and offer a workout automatically.