The strategic partnership provides residents the ability to pay their rent online seamlessly from the RentSocial resident portal. The goal behind RentSocial is to enhance the resident experience by simplifying and socializing the process of finding an apartment and streamlining everyday tasks such as maintenance requests, communication with building staff and rent payments—adding the RentPayment service creates a one-stop-site for all of a resident’s daily needs within an apartment building.
“Resident retention is a crucial component of property management success. Online rent payment is vital to increasing resident retention by making it easier for residents to pay their rent and thereby freeing up property staff to focus on their core mission of leasing vacant units and providing a great resident experience,”
The RentPayment service is activated at the discretion of property management companies through the RentSentinel platform. Following activation, property managers and residents can receive and make payments via credit/debit cards and electronic checks. RentSocial currently has 1.5 million units available nationwide; RentPayment is the largest electronic payment processor in the multifamily industry, representing over 3 million apartment units.