Managing a multifamily property efficiently often involves optimizing how rent is collected. For property managers, automating resident payments means creating a system where all forms of payment, including checks and cash, are converted into digital transactions. This approach accommodates residents' payment preferences and enhances the efficiency of processing rent payments for the property management company on the back end.What is an automate ...

The evolution towards digitalization in property management, particularly in the arena of rent collection, signifies a pivotal shift. Traditional methods of rent payment, dominated by checks and money orders, not only impose an unnecessary administrative burden but also delay financial workflows and expose companies to increased risks of fraud — an issue that has alarmingly doubled since 2021. Despite digital payment innovations, 40% of rent paym ...

For multifamily owners & operators, an unstable economic environment can compromise cash flow. What can you do to protect your revenue both in this economy and in the longer-term? The bumpy U.S. economy If you think about the last few years as a commercial flight, the multifamily industry pre-pandemic was taxiing on the tarmac. Then, the plane took off as rent prices surged in 2021. Nationally, the cost to rent an apartment rose by 17.6%, and ...