Discover the hidden links between payment flexibility and operational success. Uncover how leading properties are leveraging innovative payment solutions to drive satisfaction and efficiency.
43%
of lease non-renewals are preventable by enhancing the living experience
30%
of industry professionals currently offer flexible payments compared to the 84% of residents who actually want them
9.7 hrs
spent per month per property manager chasing down rent on industry average
3.6 pts
average increase in ORA® score for properties that offer flexible payments than those that don’t
In this report, dive deep into:
“It was a huge eye-opener for us when we instituted [flexible payments] back in the fall. Our outstanding accounts dropped dramatically just by offering that flexibility to our residents… there’s certainly a need for this everywhere as an option.”
“The biggest impact for us is when technology eliminates manual steps for our onsite teams. If we can remove the burden of remembering to perform redundant tasks like collecting documents, that’s a win.”
“In today’s market, people could care less what our policies and rules are. They care about how they feel. The resident is king. If we want to keep them, we need to better understand and relate to them. They’ll pay more to feel better. They’ll pay more if they like you and the experience you’re providing.”
Download the full report to learn how embracing innovative technologies can give your properties a competitive edge in resident retention, operational efficiency, and overall resident satisfaction.
Flexible Finance, Inc. (“Flex”) is a financial technology company, not a bank. All lines of credit, banking services, and payment transmissions are offered by Lead Bank. An application and credit assessment are required for approval. Credit line amounts vary based on eligibility (graphics are illustrative only); to access a credit line, you are required to make timely payments each month. Unsecured lines of credit are provided for a recurring monthly membership fee of $14.99 at 0% APR. A bill payment fee of 1% of your total rent is also charged when you pay your rent using the Flex app (additional card processing fee applies when using a credit card). Memberships automatically renew until canceled. Secured lines of credit are provided at 0–9% APR based on your credit worthiness. You are required to maintain a security deposit with Lead Bank. Other third party fees may apply. See your offer for more details. Positive rent payment history and information about your line of credit may be reported to one or more national credit bureaus. Terms and conditions apply. All loan proceeds are disbursed by Lead Bank; neither Flex nor any of its subsidiaries disburse loan proceeds or engage in the movement of consumer funds. Brokering activities are performed by Flexible Finance Brokering, Inc. Servicing and collection activities are performed by Flexible Finance Servicing, Inc.
Licenses
Flexible Finance Brokering, Inc., Nationwide Multistate Licensing System (“NMLS”) ID #2599800
Flexible Finance Servicing, Inc., NMLS ID #2256673
*Individual results vary. Average outcome for customers who opened a Credit Builder account for use in September 2024 with a starting VantageScore 3.0 with a credit score below 560 and made consistent, on-time payments for at least one month. Factors other than on time payments, including interactions with other creditors, also play a role and may impact results. Payment history will be reported to TransUnion. Past performance does not guarantee future results, and a credit score increase is not guaranteed.
