Service that provides upfront funding to landlords in exchange for a service fee
Wectory is a company specializing in providing upfront rental services for landlords. It manages the current rental income for landlords under existing tenancy agreements and also assists tenants in making and managing payments through its app.
The startup operates with an approach where property owners can request up to 12 months of rent as a single payment to improve their cash flow for personal or housing-related reasons.
Unlike a bank or lender, Wectory does not require any repayments once the upfront funding has been provided. Instead, the tenant begins making regular rental payments until the upfront funding duration has been fulfilled.