Modern consumer expectations have greatly evolved over the last decade – especially when it comes to shopping and buying. For instance, if consumers make a substantial online purchase, chances are they have the option to pay in increments rather than in-full, using platforms such as Affirm or Afterpay.
The nature of volatile income is that no two renters have the same payment schedule or cash flow. When that reality is juxtaposed with the traditional first-of-the-month rent due date, it causes financial challenges for many residents – not because they can’t pay rent, but because their cash flow is so variable.
Technology has transformed many facets of our world, and the labor market has not eluded these advancements. We’ve seen the rise of a new era of employment – the gig economy – which is characterized by independent contracts, short-term and freelance work.