There are 2 ways you can process rent Guarantee through Lettspay for your landlords.

Option 1 :

You can create a wallet and the landlord of the wallet to be (yourself) as the agent, you can then set up the properties and tenants for that wallet so the tenants start making payments into the wallet.

You would need to set up a supplier the beneficiary of that supplier will be the landlord which you can do by following the steps in this link here.

You can then set up a charge schedule for the new supplier against the property/properties so every month a charge will be created and a set amount will be paid to the landlord once the charge is paid

You can create a charge schedule by following the steps in the link here.

Option 2:

You can have 2 wallets Wallet A will be set up with the landlord as (yourself) the agent, you can then add the properties and tenants to that wallet so they make payment into wallet A.

You would then need to set up wallet B, the landlord of Wallet B will be the landlord, You can then create a property and tenant against wallet B (Make sure the tenants email address is your email as the agent). The tenant for wallet B can have a schedule set up every month for the exact amount you want to pay to the landlord so there is a request created automatically for every month`s rent Guarantee to be allocated to.

You would then need to set up a supplier the beneficiary of that supplier would be the account details of wallet B (you can find the account details by taking actions and view against wallet B.)

Once the supplier has been set up you can create a charge schedule against Wallet A so every month “X” amount can be paid to Wallet B via a charge.

The funds will then be received in to Wallet B, where you will need to match the payer of that payment to the tenant who has the outstanding rent schedule under wallet B, in order for you to pay out those funds to the landlord of wallet B.