What is Bridge?
Bridge offers flexible payment options to split your monthly rent into two instalments, improving cash flow management.​​
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Once approved, customers pay 40% of their monthly rent amount upfront to Bridge. We'll transfer the full rent amount owing directly to your landlord or property manager when its due. Customers then have the remainder of the month to repay their balance owing, which is 60% of the monthly rent amount. You can repay this balance at any time. As long as you've repaid your outstanding balance for the preceeding month you can continue to access our service - as often or as little as needed.
Where is Bridge available?
Bridge is currently only available in Ontario, Canada. If you live outside of Ontario please feel free to send us a message and we'll notify you once our service is available in your area.
What are the repayment terms?
You must pay your portion (40%) of the rental payment at least two days prior to its due date. You then have a full calendar month to repay the balance owing (60%) plus our charges. There is no interest due on overdue accounts, but you will not be able to access our service if your balance remains outstanding.
How can I pay?
We accept payment via Interac e-Transfer or Pre-Authorized Debit. Our service is designed to help you improve your cashflow so we don't accept Credit Cards.
How much does it cost?
We charge a flat monthly Membership Charge of $14.99/month plus a Payment Charge based on your monthly rent amount. For customers who pay less than $2,000/month in rent, this charge is 0.5% of your rent amount. For customers who pay more than $2,000/month in rent, this charge is 1.0% of your rent amount.
For example, if your monthly rent amount is $1,800 you would pay a $14.99 Membership Charge plus a $9 payment charge for total amount of $23.99. We are HST-exempt so there are no additional taxes or fees.
What do I need to sign up?
We require a copy of your photo ID, your signed lease agreement, proof of employment and credit bureau.
Do I need to continue paying my landlord?
No, as long as you pay your portion of the rent at least 2 days prior to the due date, we'll take care of the rest. We'll remit payment directly to your landlord on the due date.
How do I repay my outstanding balance?
We accept payment via Interac e-Transfer and Pre-Authorized Debit. If we haven't received payment from you prior to the end of the month we'll automatically debit your account for the balance.
Can I set up recurring payments?
Yes, if you'd like to use Bridge on an ongoing basis this is what we recommend. This is done through your online banking to set up a recurring e-Transfer to Bridge in the amount of 40% of your rent. You can also setup a similar e-Transfer to repay your balance owing prior to the end of the month. Don't forget to cancel your e-Transfer to your landlord!
What happens if my rent changes?
Please ensure you transfer the correct amount when your rent changes. A member of our team may reach out to confirm this change with you. We'll do our best to stay on top of this as well, which is part of the reason we ask for a signed lease agreement when you sign up.
Is there any fixed term agreement?
No, we don't have any fixed term agreements or hidden costs. You can use Bridge for a month or a year, on an ongoing basis or as needed.