RealPage, a provider of AI-enabled software platforms to the real estate industry, has teamed up with financial wellness company Flex for flexible rent payments.
This partnership expands on the company’s existing integration, providing RealPage customers with the capability to enable Flex as a payment option for residents within RealPage’s resident portal and app, LOFT.
According to a survey of more than 2,000 renters, 93 per cent are interested in flexible payment schedules instead of paying in full once a month. Flex’s mobile application enables residents to split their rent bill into smaller, more manageable payments while ensuring property managers receive their full rent payment due on time.
Through this technology partnership, RealPage multifamily customers can offer their residents an alternative to traditional payment methods. With Flex, residents can better align their rent payments with their pay cycles, introducing flexibility that could make paying rent easier to manage and less financially stressful.
“Partnering with Flex allows us to offer a new level of financial flexibility for residents while simultaneously optimising rent collection processes for property managers,” said Dana Jones, RealPage CEO and president. “This partnership exemplifies our commitment to delivering a unified, streamlined experience for residents and property teams within the RealPage ecosystem.”
Shragie Lichtenstein, CEO and co-founder of Flex, also added: “This partnership enables us to expand payment options for millions more renters across the US. By partnering with RealPage, we’re taking the complexity out of rent, offering residents greater control over their finances and empowering property managers with more predictability in their business.”
The partnership
According to RealPage, offering Flex payment options could lead to timely rent collection by simplifying on-time payments and reducing administrative tasks for staff. The company claims this could enhance the resident experience by providing financial flexibility, potentially improving satisfaction and retention.
RealPage also suggests that integrating Flex with their platform may improve operational efficiency, as it requires no additional costs or extra work for onsite teams. Flex integration is available now, with enhancements planned for LOFT in the coming months.
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