Available now
Property Tab
A maintenance funding solution that lets you get work done now, and pay for it in instalments.
Learn more
A maintenance funding solution that lets you get work done now, and pay for it in instalments.
Learn more
Stress less over cashflow by breaking down your big property bills into instalments.
You’ll have happier tenants as they’ll benefit from property improvements sooner.
Simple to set up online and complete visibility of costs, fees and balances.
No hidden costs and a simple monthly fee until the balance is paid.
Example loan: A Property Tab of $15,000 is offered to a borrower. No fees are paid until a request is made to pay a bill on their ‘Tab’. A maintenance bill of $1,400 is borrowed for 4 months with a fixed interest rate of 2.35% p/m. The total amount to repay would be $1,567.59 ($1,400 principal, $134.69 interest and $32.90 admin fee) made in 4 repayments of $391.90**.
*Administration fee and monthly rate (final rate) ranges between 2.50%-1.95% per/month based on the loan term. For terms >1 month, the overall interest rates decreases by 0.05%/month to a base of 1.95%/month for loans with a 12 month term.
**Subject to approval. Applications for finance are subject to the normal credit approval process of Property Credit. Fees, charges, terms and conditions apply.
How do I get started?
To access Property Tab, you need to have your property managed by an agency using Tapi.
Once enabled by your agency, you will find the option to use Property Tab when approving jobs and quotes in Tapi.
Who is eligible?
To qualify for a Property Tab, you need to be over the age of 18, a permanent NZ/AUS citizen and own a rental property managed by a Property Management agency using Tapi.
How much does it cost?
Loans on a Property Tab have one simple monthly fee of 2.5%-1.95%, and then 2.5%-1.95% setup fee for each loan. For terms >1 month, the overall interest rates decreases by 0.05%/month to a base of 1.95%/month for loans with a 12 month term.
There are no annual fees, early-pay off fees or other hidden costs.
Example costs: A Property Tab of $15,000 is offered to a borrower. No fees are paid until a request is made to pay a bill on their ‘Tab’. A maintenance bill of $1,400 is borrowed for 4 months with a fixed interest rate of 2.35% p/m. The total amount to repay would be $1,567.59 ($1,400 principal, $134.69 interest and $32.90 admin fee) made in 4 repayments of $391.90**.
Can I choose how I pay a job off?
Repayment options are flexible to suit you. Frequencies of repayment include weekly, fortnightly or monthly over a period of up to 12 months.
Repayments are chosen by you on a job-by-job basis.
Can I remove a job from my Property Tab?
Property Tab is a flexible maintenance funding solution. Jobs can be added, and removed from the your 'Tab' at any point.
Even once a loan is taken out, there are no early pay-off fees so the balance can be paid off in full at any time.
When do I start making repayments?
You start making repayments only once work has been paid for on the Tab. This is when a supplier has been paid for the work.
Up until this point, there are no fees paid for a Property Tab (unless there are other loans also being paid off).
Does applying for a Property Tab affect my credit score?
No! Because Property Credit doesn’t do credit checks, your credit score won't be negatively affected.
Property Tab is powered by Property Credit, a registered New Zealand and Australian registered financial service provider offering simple pay-later services to Real Estate Professionals and Property owners for all things property related.