Rent payments
Over the years, The Washington Apartments in Albuquerque, had developed an ad-hoc system for collecting their primary source of income, rent.
How we helped them
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How we helped them -
As more properties were added to their portfolio, ad-hoc morphed into chaos.
Late payers, convoluted bank reconciliation, and even lost rents. Eventually, the administrative hours required to keep track of everything was becoming a huge burden on their cash-flow. Adopting a "one-size-fits-all" online payment system sounded nice but instead added to the nightmare.
That's where we stepped in.
Our approach
1. Make it as easy as possible for tenants to pay.
2. Build an integrated software collection system.
3. Clearly define administrative protocols.
What we did
a) Created a web platform allowing tenants to make one-time payments by card or ACH.
b) Develop a portal system for tenants to manage all aspects of their rent payments.
c) Setup a virtual address where tenants could physically mail their checks, which would be deposited without anyone opening envelopes.
d) Even cash payments were supported by sending residents a barcode via text, allowing them to visit any of tens-of-thousands participating retail locations.
