Zero Hour Contracts - The Solution to Rent Payment Difficulties

With zero hour contracts rising from 896,000 in 2019, to 1,050,000 in 2020,  now more than ever, many tenants are finding themselves on zero hour contracts. This is around 3.2% of all workers - an all time high. Many of these are within retail and hospitality which, as we all know, have been hit hard during the COVID 19 pandemic. Some months, this means that the bank balance is healthy and there may even be some spare cash. However, there are inevitably months where the work hours are short, and the pay packet sparse. This means that managing money can be difficult, especially if you are supporting a young and rapidly growing family. 

Often, rent payments are one of the biggest stresses for families on zero hour contracts as it is the largest single outgoing for most households. Although some months people on a zero hour contract may earn well, it can be difficult to save money for the months where they don’t. For these reasons, setting up a direct debit or standing order for rent collection may seem daunting for some tenants as they are unable to guarantee exactly how much and when they will make their payment; this doesn’t mean they will miss a payment, but that they may need more flexibility in which to do so.

LettsPay are able to solve this problem easily with just the click of a button. Their payment platform enables tenants to pay using a variety of methods. They are of course able to pay via direct debit, or standing order - however, they can also be more flexible. They can opt to pay via bank transfer which means that they can make payments early and over pay if they have the money to do so. They are able to pay a little bit each week to make managing money more easily for those who are paid weekly. They can also ask someone else to pay on their behalf - if they are having a difficult month, a family member can step in so that they didn’t fall into arrears. All this is happening behind the scenes, meaning that landlords are less stressed as they are more likely to get their rent payments every month.