Rent platforms introduce fees to sidestep credit card surcharge ban
Property management platforms are charging renters new fees or memberships to offset payment processing costs after regulatory reform.
At a glance
- Rent-tech platforms are introducing new fees and paid memberships to offset credit card processing costs
- The changes follow a Reserve Bank ban on credit card surcharges
- Tenants are being encouraged to challenge the additional charges
- Victoria has existing bans on rent payment fees
Online property management platforms are introducing new fees and paid membership options to renters in response to a ban on credit card payment surcharges, according to The Guardian. The move follows regulatory reform by the Reserve Bank aimed at controlling payment processing costs.
Tenants have been advised to challenge or bypass these additional charges. In Victoria, where fees on rent payments are already banned, the practice is drawing particular scrutiny.
Why it matters
The regulatory reform was intended to reduce costs for consumers, but platforms are finding alternative ways to recover payment processing expenses, potentially shifting costs back to renters.
Original reporting
This brief was written with AI assistance from the reports listed above and checked against our editorial policy. Spotted an error? Request a correction.