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Tech and flexible payments: elevating resident living
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:
- The disconnect between resident priorities and industry offerings
- How flexible payments boost resident satisfaction by 85%
- The impact of technology on operational efficiency and rent collection
- Current challenges in technology implementation and how to overcome them
- Future trends shaping the rental housing industry. Plus, ...predictions for the rental housing industry in the next 5 years
“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.”
Abigail Diller, Director of Training and Compliance
“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.”
Megan Gibbon, Director of Transactions and Portfolio Operations
“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.”
Mary Kahl, SVP of Property Management
“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.”
Abigail Diller, Director of Training and Compliance
“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.”
Megan Gibbon, Director of Transactions and Portfolio Operations
“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.”
Mary Kahl, SVP of Property Management
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.
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