We were thrilled to present our innovative payment solutions at the National Apartment Association’s annual Apartmentalize Expo & Conference in Denver last week.
Beyond the dealmaking on the showroom floor, there was a vibrant exchange of ideas and information throughout the Colorado Convention Center. These are our three most important takeaways from the conference:
Electronic payments have become so pervasive we barely give it a second thought. We use digital wallets to split tabs and pay friends, we buy coffee with mobile apps, and we have come to expect our credit cards to be accepted worldwide. So why don’t more property managers accept rent payments online?
In the course of its day-to-day operations, the $540 billion apartment rental industry collects millions of data points containing sensitive information, including everything from rental agreements and security deposit transactions, to email exchanges, property files, and owner financial records.
Increased demands on property management companies are driving the need to streamline operations and increase profitability.
Here are five ways to get there.
Landlords have long required new residents and those with a history of late payments to pay with money orders and cashier’s checks, collectively known as certified funds. Today, more than 10 percent of rent is paid using these cash-equivalent methods, which provides guaranteed payment without concern for chargebacks and returned checks due to insufficient funds.