We’re looking forward to meeting our partners in Toronto at the annual CFAA Rental Housing Conference and discussing how Zenbase’s flexible rent payments can help your communities stay current on their rent and eliminate late payments.
Rents are increasing across the nation led by Vancouver (23%) and Toronto (11%). Inflationary pressure is making it harder for landlords to keep the rents at the same level. In 2021 more than 40% of residents had at least one delinquent rent payment in a 6 month period. With rents increasing and wages not keeping up, things will only get worse.
Visible minorities in Canada are almost twice as likely to be in a core housing need (spending more than 30% of income on rent) compared to non-visible minority groups. The housing crisis is also a health crisis: a low-income, unstable household is 2X more likely to be in fair or poor health than those in stable housing, and almost 3X more likely to report depressive symptoms.
We started Zenbase to bring peace of mind on rent day for our members and partners. Our platform saves residents more than $700 a year by avoiding late fees and overdrafts while increasing on time payments by 29% thus reducing the operational overhead of our partners.
Let’s connect at the the CFAA Rental Housing Conference and help your communities take control of their mission critical household expenses and get one step closer to financial health. You can also learn more about flexible rent payments here.
Toronto, ON – The Canadian Lenders Association (CLA) is pleased to welcome Zenbase as a new member. Zenbase is a company committed to economic inclusion in order to foster financial empowerment for renters. Its solutions improve the financial wellness of renters while improving operational efficiency for property managers. Zenbase was founded with the vision of becoming a trusted partner in managing household finances while eliminating late fees and predatory financing.
“We are thrilled to welcome Zenbase into the Canadian Lenders Association and look forward to integrating them into the CLA’s Roundtables and webinars.” says Gary Schwartz, President of the CLA. “Zenbase offers a vital service for Canadians, and we look forward to seeing what the future holds for them.”
In a time in which more Canadians are struggling to meet rent payments and there’s a housing crunch in major cities, socially responsible finance has never mattered more. Currently operating across Alberta, Manitoba, Saskatchewan, soon, Zenbase plans to expand into Ontario and British Columbia.
“Zenbase and the CLA share similar objectives. We are both committed to growing financial literacy and promoting financial empowerment through responsible lending. We look forward to working with industry leaders to develop unique partnership opportunities and provide hard working Canadians a better solution to manage their largest monthly expense: rent.” says Philipp Postrehovsky, COO at Zenbase.
Rent is usually due on the 1st of the month, but that doesn’t align with most people’s bi-monthly pay cycle. Zenbase has fixed that misalignment and provides other financial tools to help level the playing field. Since Zenbase launched, it has saved more than $700 at an annualized rate per resident by avoiding late fees and overdraft fees, and growing its active renters by more than 50% MoM. In addition to the rent product, more than 40% of our members are also using its fee-free cash advance service to cover their utilities, groceries and gas.
Zenbase’s mission is to ensure that no one is ever behind on their rent payments or gets evicted. Zenbase also offers other financial solutions that empower users to better navigate financial challenges that life may throw at them.
About Zenbase
Our mission is to ensure that no one is ever behind on their rent payments or gets evicted. Our solution enables the affordability of the primary need of every person, housing, which is why we built a solution that offers the most flexible rent payments ever. We also offer other financial solutions that empower users to better navigate financial challenges that life may throw at them.
About Canadian Lenders Association
The Canadian Lenders Association supports the growth of companies that are in the business of lending, or providing other means of credit, to small businesses and individuals by non-conventional or innovative means to exchange ideas and explore ways of improving the sector; encourage principled and professional practices by Innovative Lenders; educate the public at large about Innovative Lending; encourage individual potential borrowers to be informed about the appropriateness of Innovative Lending to the borrowers’ circumstance; and to advocate on behalf of, and represent the interests of Innovative Lenders.