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Benefits Pay Rent
As U.S. homeownership drops amid market uncertainty, Generation Y – the 78 million young adults who were born between 1979 and 1996 – is heavily influencing apartment rental activity. They are poised to enter their prime renting years and will continue to feed the apartment housing market, forcing a new absolute – paying rent by credit card. Early adopters of this value-added benefit, can increase their competitive position in reducing vacancy rates and be more responsive to market demand. You can check out TReXGlobal’s Pay Rent solution. Below are listed the results if you offer rent payment by credit card to attract tenants.
Results:
• Improved collection rates
• Increased number of signed leases
• Improved occupancy rates by allowing prospective tenants to sign up and pay their security deposits or application fees at the point of sale
• Differentiated themselves from those who don’t accept card payments
• Offered renters flexibility to make payments and view payment history online
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