Trotter launches TimePay, a new product to allow renters pay rental agent fees and security deposits over time

BOSTON - June 10, 2015 - PRLog -- To rent one bedroom apartment in Boston, you will need an average of US$6.800 to sign the lease.The median price for 1 bedroom in Boston is $2300 (Zumper National Rent Report). You will pay first month, security deposit, and a rental agent fee equivalent to one month’s rent to close on the unit.

Trotter, the relocation concierge platform that connects internationals and professionals with vetted rental agents in the main cities of the US, is now launching TimePay, a service to finance the security deposit and the rental agent fees of renters over a 12 month period.

“Relocation costs can total between $8.000 and $40.000USD in the US. With TimePay, renters can finance up to $5.000 of their relocation costs related to rentals, such as rental agent fees and the security deposit, easing up anxiety to establish yourself and your family in a new city”, says Ernesto Humpierres, Trotter’s CEO.

After finding a rental apartment, Trotter users will fill up an application form and after internal review and approval, Trotter will send the payment directly to the landlord and the rental agent, and the renter will then pay the amount over 12 months via automatic ACH debits.

With a potential market of 3 Million targeted users nationwide, Trotter expects to make in the rental market and ease up the process to find housing in Boston, New York, Chicago, Miami, San Francisco and Washington DC.

Trotter was born out of the experiences of its team of founders, from Venezuela and Colombia, moving for the first time to the US, and having to deal with issues such as lack of credit history and costly fees and deposits.

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About TROTTER: http://www.gotrotter.com

Trotter is a relocation concierge that connects you with vetted real estate professionals and listing owners via a modern interface, while enjoying seamless communications, quality choices and enabling fast decision making. Backed by SocialAtom Ventures.