Property tab
Maintain now, pay later
A Property Tab from Tapi allows you to tackle larger maintenance jobs immediately and spread the cost over time. There are no hidden costs, just one straightforward monthly fee.
A Property Tab from Tapi allows you to tackle larger maintenance jobs immediately and spread the cost over time. There are no hidden costs, just one straightforward monthly fee.
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We've partnered with property lending specialist Property Credit to offer a Property Tab for your investment property. Rest easy knowing that you'll have the funds you need to cover large maintenance bills, reducing cashflow stress.
Think of your Property Tab as your property credit card. Once you are approved for a Tab, you can use it whenever you need to pay for maintenance. You'll only incur fees when you add jobs to your Tab.
When you make a payment for a job using your Property Tab, you have the freedom to select repayment terms. Whether it's on a weekly or monthly basis, you'll only be charged a fixed monthly fee until your balance is settled. There are no hidden charges.
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Applying for a Property Tab takes less than 5 minutes online. Once you're set up, Tapi's user-friendly digital portal lets you effortlessly add maintenance tasks to your Tab and define repayment schedules for pending work.
Getting approved for a Tab
Submit a one-time online application to secure a Property Tab for your investment property. You can be approved for up to $15,000, determined by your property's cash flow.
Include maintenance on your Tab
When you're giving approval to maintenance jobs through Tapi with your Property Manager, you can opt to cover the expenses using your Property Tab.
Choose your repayment plan
After the work is finished and invoiced, you'll receive a notification to establish your repayment plan. Select from weekly, fortnightly, or monthly options, with the flexibility to spread payments over a maximum of 12 months.
Repay your loan in instalments
Once you've established your repayment plan, the Supplier that completed the work will receive full payment, and you can gradually repay the bill over time. You also have the option to settle the entire amount at any time.
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Once you're approved for a Property Tab, you'll only incur fees when you actually use it to cover maintenance bills that you've chosen to pay for in instalments.
Example Loan: No fees are incurred until a request is made to cover an expense using Property Tab. Suppose a property owner decides to borrow $1,400 to pay a maintenance bill over 4 months at a fixed interest rate of 2.35% per month. In this scenario, the total repayment amount would be $1,567.59, consisting of $1,400 as the principal amount, $134.69 in interest, and a $32.90 administrative fee. This total would be paid off in 4 equal installments of $391.90 each.
*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.
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.
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 taken out on a Property Tab come with a straightforward monthly fee ranging from 2.5% to 1.95%, in addition to a setup fee of 2.5% to 1.95% for each loan. For loan terms exceeding one month, the overall interest rates decrease by 0.05% per month, eventually reaching a minimum of 1.95% per month for loans with a 12-month term. Rest assured, there are no annual fees, early-payoff fees, or any other hidden costs involved.
Example Loan: No fees are incurred until a request is made to cover an expense using Property Tab. Suppose a property owner decides to borrow $1,400 to pay a maintenance bill over 4 months at a fixed interest rate of 2.35% per month. In this scenario, the total repayment amount would be $1,567.59, consisting of $1,400 as the principal amount, $134.69 in interest, and a $32.90 administrative fee. This total would be paid off in 4 equal installments of $391.90 each.
Can I choose how I pay a job off?
Choose a repayment schedule that fits your needs. You can make payments weekly, fortnightly, or monthly for a duration of up to 12 months. You have the flexibility to decide on your repayment frequency for each individual job.
Can I remove a job from my Property Tab?
Property Tab offers a flexible maintenance funding solution. You can add or remove jobs from your Tab at any time. What's more, even if you've taken out a loan, there are no early pay-off fees, allowing you to settle the balance in full whenever you choose.
When do I start making repayments?
You'll begin making repayments only after the work has been paid for using your Tab, which occurs when the supplier has received their payment. Prior to this point, there are no fees associated with your Property Tab, unless you have other loans being paid off as well.
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.