Letting agent and property merchant category code 6513
Letting agents and property managers use merchant category code 6513. Holding deposits, first month's rent and fees are often large, time sensitive payments, and taking them by card or payment link is faster than waiting for a bank transfer.
Merchant category codes for property and lettings
The codes businesses in this sector come across most. Your provider sets the code when your account is opened, based on what you tell them about how you trade.
| Code | Industry | More |
|---|---|---|
| 6513 | Letting agents and property managers | Professional services payments |
| 7349 | Commercial cleaning and maintenance | Home services payments |
| 1520 | General building contractors | Pay by Link for trades |
Holding deposits by link
A payment link sent the moment a tenant agrees to a property secures it in minutes. The payment settles the next working day and is matched to the tenant automatically.
Rent and recurring payments
Some agents collect rent by card or recurring payment, particularly for short lets and serviced accommodation. Tokenised billing keeps it simple.
Client money
Rent and deposits are client money and should be handled in line with your client money protection scheme. Your payment setup should make reconciliation easy.
Card payments for property and lettings, opinions from our specialists
Short views from our specialists, published to start a conversation. Agree or disagree, tell them on LinkedIn.
Letting agents lose good tenants every week waiting for a holding deposit to clear. A payment link wins the property in five minutes. A bank transfer loses it overnight.
Speed is good, but tenants need to know exactly what a holding deposit covers and when it comes back. Put it in writing with the payment link.
What to check in a card payments setup for property and lettings
Three questions worth asking any provider, and the eCom Pay answer.
Holding deposits by link
Properties secured in minutes.
Payments matched to tenants
Simple reconciliation.
Next working day settlement
Funds in the bank fast.
Questions about merchant category codes for property and lettings
What is the MCC for a letting agent?
Letting agents and property managers use 6513.
Can a letting agent take a holding deposit by card?
Yes. A payment link lets the tenant pay the holding deposit from their phone.
Can serviced accommodation take card payments?
Yes. Short lets and serviced apartments often use hotel codes such as 7011, depending on how they operate.
More industry guides
Card payments for property and lettings, set up properly
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