Want an Additional Revenue Stream?
Learn more from Katie Cotton at easyBondpay.
Follow the link below to check out Part 1 of this series.
Listen to the Audio
Read the Conversation
Leesa: Welcome to another edition of Rent Roll Insights, joining me again today is Katie Cotton from easyBondpay.
Katie: Hi Leesa thanks for having me.
Leesa: You are welcome thank you for coming along again.
Katie: Great to be here.
Leesa: A this series Katie is going to be sharing with us a little bit about what easyBondpay can do to help property management businesses out there. So, if you did miss our first video be sure to click on the link below and make sure you check that out. So, Katie today it’s all about dollars.
Katie: It is.
Leesa: Okay so what does what does easyBondpay do to help with the profitability or help with that additional revenue stream coming into the business?
Katie: Funny enough it costs nothing to come on board with easyBondpay and we offer two percent commission for every bond. I mean there’s not many things out there now that are free to use that are going to give you something back.
Katie: Win-win and going straight back to the agency and I think you know sometimes we get caught up in the fact that little things don’t make the biggest difference and if we went into a shop and someone said to us we’re going to give you two percent off we’re not going to be screaming to shop are we. We kind of go well that seems a little bit insignificant. But what we’ve done earlier as we mentioned is that we’ve prepared a bit of a board behind us to give our agencies a little bit of an understanding about what that 2% can look like coming back, simply for offering your tenants another option to pay their bond.
Leesa: Love it.
Katie: I suppose if we look at the average bond in Queensland, and we are just looking at an average, so let’s say we’ve got $2,500.00 as a bond we’ve got 500 properties that we rent out and every one of them uses easyBondpay. That’s an extra $25,000.00 in revenue every year simply by offering it. Even though that’s not the be all end all to offering easyBondpay it’s a great incentive behind offering it to everybody, but I think it’s about the convenience, it’s about cash flow. You know as business owners we know that without cash flow we can’t grow and it’s no different for our tenants, it’s no different for everyday life to give people that other option to free up their money especially in a world where moving is incredibly expensive, bonds are incredibly expensive and in some cases the most amount of money that people will ever save in their lives. So simply by giving them the option to use easyBondpay there’s a potential for that agency to earn additional revenue and still costs them nothing to do that.
Leesa: And it’s making it an available option for everybody not just selective people.
Katie: Absolutely and if we offer it to everybody we’ve got more of a chance of being able to say this is a great revenue opportunity for us because everybody’s using it.
Katie: So yes it’s great. So I mean for me it’s once you give me $25,000.00 let’s go shopping.
Leesa: Oh absolutely it’s a bit of a no-brainer isn’t it.
Katie: It is. It’s a great option as I said to you with all of these agencies on board using it everybody is already getting the commission out there and we just we want everybody to be able to offer it and we want everyone to have the same mindset that it’s here for those convenient and cash flow purposes as opposed to simmering money.
Leesa: Yes and that’s what tenants are wanting they want something that’s convenient and this is it.
Katie: Absolutely we all want something convenient. We solved a problem.
Leesa: That’s exactly right it’s all about solving problems. I absolutely love it. Look thank you so much for joining us again today and thank you everybody for joining us for another episode of Rent Roll Insights. We’ll see you again soon.
Katie: Bye thanks.