Get an inside look at how your property management peers are handling payments! Our friends at PayLease recently performed their annual market research study that gathered information on the state of online payments and utility billing in the multifamily industry, and the results are in.
As consumers become more and more tied to smart phones and ever-reliant on connectivity, property managers are taking notice and stepping up their payment game. Ask your standard millennial the last time they wrote a paper check and you might get a blank stare. Now ask if they have a PayPal account, or when they last placed an order with Amazon, and they’ll have plenty to share.
Clearly, there’s no avoiding the ease and convenience of making—and, more importantly, accepting—online payments. If your competitors are handling things online, there is no way you can stand out if you aren’t.
Another point plaguing many property managers are utilities—managing property expenses, recouping costs from tenants, and the age-old question: who pays the water bill? Whether you make utilities the responsibility of the tenant, or increase rents to cover the prorated or estimated costs, there are pros and cons to consider. The PayLease survey shows that toying with this question is common, but the perfect solution can be elusive.
If you’re a current ePay customer, you’ve already realized the many benefits of automating and outsourcing this integral, yet intensive, part of your business. PayLease is an authority in the online payment industry, but did you know that they can also help you manage your utility efforts as well? Learn all about it during the PayLease Tech Tuesday webinar on September 5th, or contact a Rent Manager PayLease specialist at firstname.lastname@example.org today!
Don’t miss out on your chance to stand out!