Xspaced, a U.S.-fintech startup that specializes in rental payments, announced on Thursday the launch of its new feature, FlexRent. According to Xspaced, FlexRent allows tenants to split their rent payments into smaller payments over the month to align their monthly rent with their income schedule.
“What makes FlexRent more attractive to American renters compared to existing alternatives is that it doesn’t require tenants to go through additional credit checks, it’s not restricted to specific states or cities, and is available nationwide. FlexRent is also 2x-3x cheaper compared to existing flexible rent payment products, and it doesn’t require a prior approval from the landlord for tenants to enroll.”
While sharing more details about the feature, Alex Pelin, co-founder at Xspaced, stated:
“Our team is excited to provide this service at a time when rent payments are challenging for millions of Americans. FlexRent will have a positive impact on renters’ ability to make timely rent payments during the current pandemic, curb the growth of consumer debt and bring renters one step closer to financial wellness.”
Founded earlier this year, Xspaced is on a mission to create access to housing at scale.
We build fintech products for landlords and tenants to enable financial wellness and access to housing at scale.