Family bank moves rent payment to the mobile with Mkodi

With the launch of Mkodi, a new product by Family Bank, comes a new era, where you will be saved the trouble of queuing in the bank and later in the housing agents offices every month to pay rent. This mobile system will leverage the Pesa Pap mobile platform by Family Bank to ensure landlords recieve your payments via Mpesa to their bank accounts.

You wont need to be a Family Bank account holder to make these rent payments. You just need an Mpesa account, but your landlord should have the Family bank account. Landlords will receive notification of payments as soon as the payment has been remitted. Now in the case of houses manged by housing agents, i think this will be achieved by agents having a single account.(I am in the process of confirming this, plus the costs involved).

How to pay rent:

1. Go to M-PESA menu
2. Select pay bill
3. Enter the Unique Code
4. Enter 222114 as the business no
5. Enter the landlord or agent unique code followed by #
6. Await confirmation from Family Bank

How to subscribe as a Landlord:

1. Open account with Family Bank and receive a unique code
2. Share this code with your agent or tenant
3. Start receiving rent Alerts

There will be a minimum transaction charge of Ksh. 50