RentHero Review: Earn Miles For Your Rent Payments

RentHero Review: Earn Miles For Your Rent Payments

Online rent paying service that allows you to earn rewards on your rent payments

Good for

  • DBS and Maybank cardholders who want to earn miles on their rent payments

Bad for

  • Those whose card providers prohibit rent payments from their rewards programme

For DBS and Maybank cardholders who are looking to earn rewards on their monthly rent payments, consider using RentHero. RentHero is a great option for those who are not currently making their rent payments with their credit or debit card. By linking your DBS or Maybank card and making payments through RentHero, individuals can earn rewards on existing spend at virtually no extra cost.

Table of Contents

How Does RentHero Work?

RentHero is a service that allows tenants to use their credit or debit card to pay their landlord. Individuals sign up via RentHero’s website and link their primary credit/debit card. Once the tenant enters their landlords payment information, they can then begin sending payments to their landlord’s bank account.

As for payments, users can schedule payments to their landlord’s account under their ‘monthly payment’ section. It is recommended that you schedule your monthly payments around 6 days before the rent is due. This will allow time for processing and ensure that your rent is received on time. There is no action required by your landlord as all of the required steps can be done by the cardholder. Once a payment is sent, and charged to your card, you will then earn your miles for that month. This is especially great for those who have more expensive rent payments, as they can accrue more miles significantly faster than those with less expensive payments.

What Cards are Supported

Currently, RentHero is compatible with all MasterCard and Visa credit and debit cards. However many banks have explicitly prohibited rental payments in their rewards programmes, which means the number of cards eligible are now limited. The only banks that allow cardholders to earn miles on their rent spend are DBS and Maybank. Furthermore, they do not support any Amex or international debit or credit cards, although they are planning to support AMEX cards in the near future.

If you are unsure if your card restricts these types of payments, check your provider’s terms and conditions. If the MCC6513 (Merchant code for payments towards real estate agents and rentals) is excluded from the rewards programme, then your card is not supported.

How to Earn Miles

Earning miles with RentHero is like earning rewards with any other credit or debit card. By charging your rent expense to your card, you can earn rewards at the rate associated with your card. It is important to check what limits your card has for their rewards programme, as certain providers restrict the amount of miles a user can earn in a month. If your current bank does not offer rewards on rent spend, but you would still like to earn miles on your purchases, consider alternate air miles credit cards.

DBS AltitudeMaybank Visa InfiniteDBS Insignia
Monthly RentS$2,500S$2,500S$2,500
RentHero FeeS$43.75S$43.75S$43.75
Rewards Rate1.2mi/S$11.2mi/S$11.6mi/S$1
Rewards Earned3,052.50 miles3,052.50 miles4070 miles
The rewards rate is charged on the total monthly amount (rent+RentHero fee)

RentHero Fees

RentHero is quite transparent in what kind of fees they charge to your account. On each monthly payment, RentHero adds a 1.75% service fee (recently cut down from 2.25%). This fee is a bit more affordable as similar services, like Citibank PayAll, typically charge 2% for payment processing.

Monthly RentMonthly RentHero FeeAnnual RentHero Fee
S$1,500S$26.25S$315
S$2,500S$43.75S$525
S$3,500S$61.25S$735
S$4,500S$78.75S$945

How to Sign-Up

Getting started with RentHero is a simple, online process. Follow the steps below to open your account.

  • Create an account with an email and password
  • Provide your card details in your profile
  • Enter in your landlord’s payment information (Name, bank account number, etc.)

RentHero Eligibility

There are a couple of eligibility requirements that must be satisfied in order for a user to be permitted to sign up.

  • A user must have a Singapore-issued Mastercard or Visa card
  • A user’s residence must be located in Singapore

How to Close Your Account

In order to close your RentHero account, you must email their customer service at [email protected] or [email protected] It is advisable to pay any outstanding balances on your RentHero account before you officially close it, otherwise you will still be liable to pay them when your account is closed.

Alex Noonan

Alex is a Junior Research Analyst at ValueChampion, analyzing various financial decisions for consumers in Singapore, from which credit cards provide the best values, how to maximise value of miles and other personal finance matters. Previously an SEO Analyst at a New York based fin-tech company, specializing in small business advice, he has extensive experience in content production & web optimization. He is a recent graduate of Rutgers University, with a major in Supply Chain Management.

Comments and Questions

{"endpoint":"\/newsletter\/subscribe","style":"blue","title":"Keep up with our news and analysis.","version":"sidebar"}