RentPayment’s Promotion Team has been offering residents a variety of promotional incentives and giveaways this holiday season. Last month, we launched our First 50 Promotion where the First 50 residents to pay their rent online had the opportunity to win a $50 MasterCard Gift Card courtesy of RentPayment. So who were the lucky winners?
Check out a few of them below!

This month we are offering residents the chance to participate in our Holiday Giveaway Spree where one resident has the chance to win a $1,000 MasterCard Gift Card to kick off 2012 and five additional residents will each receive a $100 MasterCard Gift Card for participating. The promotion has been a great success generating an extra 42,000 electronic rent payments from the select communities.

We asked these residents: Why do you use RentPayment?

• “It’s so much easier to not have to worry about writing a rent check and finding a stamp to mail it in. With the holidays it just gets too hectic!”
  Rick M. – Chicago, IL
• “I can pay from my iPhone anywhere in the world. You can’t beat that.”
  Julie T. – Gainesville, FL 
• “The 1st always seems to sneak up on me, especially around New Year’s. The rent reminder emails are perfect because I can click one link and then pay with my credit card.”
  Prasad K. – Houston, TX 

Congratulations to all our First 50 Promotion and Holiday Giveaway Spree winners and a big thanks to the property managers for all their efforts! If you’re interested in running a promotion for the residents at your property, email us at Marketing@RentPayment.com for more information.

Check out this week’s issue of the San Francisco Business Times for a “Fast 100” company spotlight on YapStone, the parent company of RentPayment. The article features an interview with our CEO, Matt Golis, highlighting the growth of electronic rent payments as well as the benefits they provide property managers and residents alike.

To read the full article click here:

NMHC Student Housing Conference & Exposition

October 3^rd & 4^th, 2011 | Phoenix, AZ

The National Multi Housing Council (NMHC) will host their 9^th annual Student Housing Conference & Exposition at Phoenix’s Biltmore Hotel over a two-day span.

Stop by RentPayment’s booth to learn about how we can help drive on-time payments from your student residents.  RentPayment, among many other benefits, hosts a Student Housing Promotion each year at move-in time.  This promotion incentivizes students to use your ePayment channels as well as introducing them and their parents to the ease of electronic payments.

At NMHC’s Student Housing Conference and Expo, you will meet Kris Rudeegraap, the Southwest’s Regional Sales Director, as well as Kiara Kempski, RentPayment’s Marketing Manager and Annalies VanStigt, a RentPayment Marketing Associate.  Stop by Booth #100 to discuss how to optimize your RentPayment services and have a chance to win a $200 MasterCard gift card.

Check out a live Tout from the Show!

 

 

Multifamily Executive Conference

October 3^rd, 4^th & 5^th, 2011 | Las Vegas, NV

Exciting news: RentPayment will be at the Multifamily Executive Conference (MFE) in the place of our former competitor, PropertyBridge.  This comes on the heels of the announcement that YapStone, the parent company of RentPayment, has acquired PropertyBridge.  This will be the first time that RentPayment is able to introduce itself at an industry conference in the place of PropertyBridge.

Bill Evick, RentPayment’s Vice President of Sales, will be at the show representing RentPayment and sharing news about the acquisition.  Stop by Booth #210 and learn more about the new added benefits for each client base in the wake of the acquisition. Bill will be giving away a $100 MasterCard gift card.

With September right around the corner, the RentPayment marketing department wanted to remind all the properties participating in our Love At First Click Student Housing Promotion, that there are several ways to increase your residents’ awareness of electronic payment options! RentPayment’s Love At First Click Promo is nearing it’s end and we want to help your property benefit from electronic payments, and help your residents, earn 1 of 3 AMAZING prizes. Don’t forget, any of your residents who make a payment and enter the promotion code “LoveAtFirstClick” on their payment page from now until September 25th, are automatically entered to win an iPad, $1000 MasterCard Gift Card or a trip for two anywhere in the United States!

Here are some quick tips on how to spread the word (and the love) about RentPayment’s Love At First Click Promotion and the availability of electronic payment options at your community:

• Have a Community Facebook or Twitter? Make a quick status update reminding your renters to pay their rent online with RentPayment and tag @RentPayment on your Facebook or Twitter.
• Have a Community web or print Newsletter? Include RentPayment in your monthly newsletter. Email Marketing@RentPayment.com a copy or link to your newsletter to be included on our blog!
• Have RentPayment Marketing Materials displayed at your property? If you don’t, email us and we would be more than happy to send some. If you do, we’d love to see some pictures and share them on Facebook! Send your pictures to Marketing@RentPayment.com.
• Have Resident Email Lists? RentPayment can create customized eBlasts that match the look and feel of your property, to send to your residents. Let us help you remind them that rent is due and that they have the option to pay online.
• Have a Move-In Party or Event? Request promotional giveaway items for move-in parties and events and send pictures to Marketing@RentPayment.com.
• Have Creativity? Make a quick and fun video about RentPayment and share it with your residents via social media! Get creative and have fun! Check out our YouTube Channel for past video submission ideas.

With these easy tips, we guarantee RentPayment awareness will increase and your property will begin experiencing lower operating expenses, improved cash flows, more on time payments and happier residents, in no time! Feel free to contact Marketing@RentPayment.com for further assistance in transitioning your residents to electronic payments.

Whether utility expenses are paid by residents or the Property Management Company we can all do our part this summer to help save energy and resources.  Decreasing our energy consumption is not only good for the planet, but great for our pocketbooks as well. 

By now, we should all be familiar with commonplace energy saving tips such as: turning the thermostat up higher (for example, 78° F instead of the usual 72° F), turning the lights off when leaving the house, washing only full loads of dishes and laundry, and closing the blinds during the day.  However there are other unconventional and less widely known tips that can also help renters and Property Management Companies save money. Here are a few of the best unconventional tips you can share with residents to help conserve energy during the hot summer months.

Use compact fluorescent light bulbs.  According to the US Department of Energy, compact fluorescent light bulbs can save up to 75% off the average energy cost of lighting versus incandescent bulbs. This is a substantial savings considering lighting accounts for 15% of the average American family’s annual energy consumption. 

Mitigate phantom power usage.  Many gadgets, electronics, and appliances use phantom energy when it’s unnecessary.  According to the US Department of Energy – in the average home nearly 75% of all electricity used to power electronics is consumed by products that are switched off.  These energy wasters include DVD players, TVs, stereos, computers, kitchen appliances, and much more.  Most important to acknowledge are chargers for cell phones and computers.  If you leave your chargers plugged in all the time you should know that only 5% of the power drawn by the charger is used to charge the device and the other 95% is wasted.

Put lamps in the corners of rooms.  Compared to putting lamps against flat walls, putting lamps in the corners can help spread more light.  If the walls are light colored, the light will bounce off of the walls and ceiling, helping to maximize the amount of light.

Don’t overcrowd your refrigerator or leave your freezer empty.  Having less in your refrigerator keeps it from having to work so hard to keep everything cool, consuming less energy.  Keeping your freezer full has the opposite effect; it helps the freezer stay colder while expending less energy.

Pay your rent with RentPayment.  Paying rent electronically with RentPayment cuts down on paper consumption, saves gas by limiting  trips to the bank, and provides time and money savings all around.

Arrange furniture intelligently around A/C vents.  By arranging your furniture so it does not block air conditioning vents you will be able to maximize the cool air flow .

Reduce cook times by thawing frozen foods.  Thawing frozen foods  prior to cooking  will cut down cooking times, helping to expend less energy while preparing the meal.

Utilize the toaster oven and microwave.  Cooking with the toaster oven and microwave can help save energy compared to cooking with a conventional stove or oven.

These few unconventional tips along with commonly known energy saving methods will help you and your renters save money and energy this summer.  Spreading awareness throughout your community to staff members and renters alike will benefit all.  For more tips, check out the US Department of Energy’s Energy Saving Guide.

Switching your Property Management Company from paper checks to electronic payments may seem like a daunting task, but keep in mind that success is certainly attainable.  This case study demonstrates how one of our clients realized the benefits of switching to electronic payments and set a plan in motion to make it happen.

A leading Property Management Company headquartered in the state of New York (hereafter referred to as “Company X”) manages nearly 50 properties with over 15,000 units.  They signed on with RentPayment in April 2009 so they could profit from the benefits of automated rent collection, including:  saving time and money, increased efficiency, and quicker receipt of funds.   When Company X launched with RentPayment, they set out to reach a specific and concrete goal:  75% adoption by residents.

In order to reach this goal, Company X developed a strategic marketing plan to educate employees and renters alike on RentPayment’s services.   Here is what they did:

APRIL 2009   |   Current Usage: 0%

Email from upper management (CFO) to all property managers and on-site managers introducing the new RentPayment service and rollout strategy.  Included in this email were PDF attachments of printable marketing materials to promote the new service.

MAY 2009   |   Current Usage: 10%

Update email from CFO, including a detailed rollout strategy for all Managers to follow including the following action items:

•             Include RentPayment information in move-in packet

•             Review eCheck program with all residents at move-in time

•             Promote benefits to new and existing residents as much as possible

•             Demo RentPayment to new residents in leasing office

•             Update lease agreements and change “rent to be mailed to…” to “rent to be paid
online by eCheck at www.RentPayment.com”

•             Updated all lease renewals forms with above verbiage about eChecks

JUNE 2009: Email from CFO to Property Managers outlining resident benefits, answering questions and following up on previous emails.

JUNE 2009: Follow-up from CFO stating that eChecks are now THE method of payment.

JULY 2009   |   Current Usage: 30%

Email from CFO with updates on current resident usage percentage and updated marketing materials in PDF.

AUGUST 2009: CFO sends update email.

SEPTEMBER 2009   |   Current Usage: 44%

Email from CFO with updates on resident usage and rollout strategy. Email includes an incentive bonus for leasing managers who achieve 50% and 65% resident usage.  Email also includes in-depth stats on the entire Company X portfolio with exact usage rates.  These rates ranged from 8% to 94%.

OCTOBER 2009   |   Current Usage: 57%

Email from CFO with updates and additional goals for resident usage. Email also included marketing collateral updates and a FAQ document for eChecks.

DECEMBER 2009   |   Current Usage: 60%

Updated usage percentages from CFO.

JANUARY 2010   |   Current Usage: 65%

Updated usage percentages from CFO.

FEBRUARY 2010   |   Current Usage: 66%

Email from CFO with updates on rollout strategy and tips for getting to 75% resident usage.

CFO of Company X stated that because the program was so well received by the residents, the transition from paper checks to eChecks was “seamless and easy.”  He also noted that the company observed modest cost savings throughout the program’s implementation.  They continue to actively convert residents to eChecks and add more properties from their portfolio to the RentPayment system.

Communities using RentPayment that want to increase adoption can learn a lot of from Company X, but there were a few key elements that truly helped them achieve success.  First, the company outlined a detailed plan which ensured that everyone understood the goals and how to achieve them.  Secondly, managers were committed and involved because the company continually sent progress updates, offered incentives and remained focused on the plan until the final goal was reached.

Everyone knows being a property manager is far from easy, but certain changes can be adopted to facilitate one of a property manager’s most stressful duties—RENT COLLECTION.  The first change is simple:  get your community signed up and ready to accept online payments with RentPayment!  However, as many of our clients may know the next step proves itself a much more daunting task—how do you get residents to utilize online payment solutions and throw out those checkbooks?!

As some communities glide through this transition period and begin reaping the benefits of safe, efficient and easy online payments, others find it to be a bit more difficult to stimulate usage.  We want to help you reap the benefits, and in order to help you do so RentPayment has gathered a list of tools and practices that can boost usage in your community:

• Advertise! The first step to getting your residents to use RentPayment is to tell them about it.  Whether you mention RentPayment in your community newsletter or take advantage of our free marketing materials, it’s crucial to inform your residents about RentPayment’s availability and the benefits it can provide.
• Educate your team! It is extremely important that all staff members know about online payment options available including fees and channel options.  Residents will feel more comfortable transitioning away from paper check payments if they have a friendly and well informed staff guiding this transition by answering any questions or concerns they may have.
• Remove the Drop Box! If residents need to make after hour payments, post a sign (where the drop box used to be) letting them know they can pay securely online with RentPayment.  Moreover, the rent drop box is not safe. There has even been recent stories in the news about drop box theft (read here), don’t let this happen to you!
• Maximize your Online Presence! Add a link to your community website to take residents directly to your community’s RentPayment page.  Not only will this help residents make their way to RentPayment, but it also lets residents know their payment is safe and supported by your community.
• Use Social Media! It’s free, easy and effective.  It’s safe to say the majority of your community’s residents have accounts on facebook, twitter, or foursquare, thus social media serves as a great channel for communication.  Start a page for your community and post links directing your residents to RentPayment, or post about the benefits of online payments and the available payment channels.
• Rent21!  With Rent21, the Property Management Company absorbs the processing fee, so residents are able to use both offline and online payment options free of charge.  What better motivation is there for residents to transition to online payments than making it completely free of charge?

Using these simple steps to increase online payment participation will not only make collecting rent each month easier for you, but it will add a level of service your residents will remember and appreciate.  RentPayment is here to make everyone’s life easier, why not take advantage of it?

Last week, RentPayment attended two tradeshows: The Apartment Association of Greater Orlando (AAGO) and the First Coast Apartment Association (FCAA). From a “Survivor” theme to a “Las Vegas” theme, both shows were exciting and had great turnouts. Steven Foster, Regional Sales Director – Southeast, and Cara Ogram, Graphic Designer for RentPayment traveled to both shows to represent RentPayment and are happy to share their experiences.

Several Property Managers at the AAGO in Central Florida were excited to hear about RentPayment’s integrations with leading property management software after speaking with Steven and Cara.  It seemed as though properties that are using payment modules provided by their Property Management Software have nothing but troubles. Yardi and OneSite don’t seem to cut it when it comes to offering a complete payment solution. Those Property Managers were happy to know that RentPayment can seamlessly integrate with both Yardi and OneSite and they will be in-touch with us to improve their payment processing needs.

With Steven and Cara both local to the Jacksonville office, the FCAA show at the Jacksonville Fairgrounds was a great opportunity to meet Northern Florida Property Management Companies.  Several of RentPayment’s local clients stopped by to say hello and mention how much they love the ease of online rent collection with RentPayment.  From making rent collection easier for them to do their accounting and reporting reconciliation, to residents loving the convenience of online and phone payments, it’s great to know our services are exceeding expectations.  Some customers were not previously aware of the free marketing materials that RentPayment offers to its clients.  After seeing some new marketing collateral at the show they’ve been encouraged to stock up so they can continue to convert residents to electronic payments with RentPayment.

Top 5 Underused Leasing Tools

Leasing Agents and Property Managers alike often neglect to utilize certain readily available resources that can help close more leases and fill more vacancies. Here are five apartment leasing tools that you might already have at your disposal but may have overlooked:

1)      In-person payments to close leases on the spot.

Properties accepting electronic payments with RentPayment have the capability to collect application fees, security deposits, and first month’s rent with a resident’s credit card or debit card.  This can be done using the online RentPayment website or in-person using a credit card swipe terminal.

This apartment sales tool will help you to close leases quickly by keeping the potential renter on-site throughout the leasing process.  For example, if a property does not accept credit card payments for application fees and security deposits and the potential renter does not have their checkbook with them, the renter will have to leave the property thus delaying the close of the lease and another opportunity might not arise.  However, by being able to accept application fees and security deposits by credit card, managers can instantly approve prospective residents, their deposit and lease payments which results in a lease much quicker and diminish the risk of losing the lead.

2)      Social media sites in the absence of community web sites.

If financial or technical restrictions prevent your property from creating a website of its own, using free social media outlets can be a viable substitute.  These avenues allow you to stay in contact with potential and current renters via the internet.  To make sure it functions as an apartment marketing tool, be sure to update the community profile constantly with move-in specials, renter testimonials, applicable online links, and photos of your property, specifically model units and floor plans.

3)      Updated after-hours voice recordings with leasing info.

By updating your property’s answering machine regularly, you can help potential renters that call in after-hours learn about your community’s amenities and current leasing specials even when the office is closed.  Including apartment leasing information in your voicemail greeting such as time-sensitive specials and unit availability can help create a sense of urgency for the potential renter.  Also, be sure to inform potential renters of the online resources available to them; such as filling out their applications and paying the application fee online anytime (after office hours) using RentPayment.

4)      Over the phone and online rent payment capabilities for site unseen prospects.

More than ever, potential renters are using the internet to find a new home.  Because of this, it is important to have online rent and deposit payment options available to these potential renters.  A remote prospective renter is more likely to sign a lease with your property if you make the research and application process convenient and efficient for them.  Offering potential residents the option to pay their fees in advance, online or over the phone with RentPayment’s ePayment platform simplifies the process for the renter. This can also help the leasing process for many corporate housing properties where site unseen property payments are necessary.

5)      EPayment capabilities as an amenity on online apartment listing sites.

Monitor rental listing and ILS websites to ensure that your property’s online credit card and eCheck rent payment options are listed as a community amenity.   Paying rent online and flexible payment options (including mobile payments) are becoming an important selling point to potential renters.

Top 10 Reasons Renters Utilize RentPayment for Online Rent Payment

1. CONVENIENCE! RentPayment’s flexible payment options allow renters to pay any time from anywhere using almost any device.

2. Save time.  EPayments can be made in less than 20 seconds.

3. Pay on the go. RentPayment’s remote payment options include: online, by phone, by text, or with our new iPhone application.

4. AutoPay. Enrolling in AutoPay ensures rent is paid on-time, every time, with no oversight.

5. Secure and reliable. Online payments are PCI Compliant and secure. There is no need to worry about checks getting lost in the mail; residents receive instant payment confirmations and email notifications that they have paid.

6. Service. Customer Care Representatives are available 7 days a week.

7. Incentives. Recurring renter promotions and rebates are available, offering exciting prizes for switching to electronic payments.

8. Rewards. Renters can earn rewards from their credit card company. If they need to keep their cash they can pay their rent on a credit card.

9. Payment reminders. Renters can receive monthly reminders from RentPayment, ensuring no late fees are accrued.

10. Go green. Reducing paper consumption tremendously reduces waste and is great for the environment.