Zego, a global multifamily resident experience management platform, today announced partnering with Flex to offer flexible renter payments, according to a press release.
The joint release states that the integration will enable residents to pay bills on a schedule that best suits their cash flow, and provide comprehensive rent collection for property owners and operators at no addition cost.
“Flex aligns with Zego’s goal of providing software and technology solutions that enable operators to deliver the ultimate resident experience,” said Stephen Baker, President of Zego.
“Through this partnership, property managers can further protect cash flow and revenue. At the same time, operators can improve the day-to-day living at their properties by expanding rent payment options and empowering residents to pay rent on the timeline that works best for them. It’s a win-win for all,” Baker stated in the release.
Through its technology Flex allows renters to split their payments in smaller installments throughout the month, operating on a subscription model that does not charge interest or late fees. The company also says that the service boosts rent collection rates for owners, and does not place any risk on owners.
“Our partnership with Zego is the first of its kind and we are excited to partner with a top-tier residential technology solution that opens the door to payment flexibility for the more than 11 million residents and homeowners that use Zego’s platform,” Flex CEO Shragie Lichtenstein said.
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The announcement follows Zego’s recent partnership with payment processing firm CheckAlt in September, in an attempt to help property managers with on-site payments, saying that its new Zego Pay Lockbox gives managers the ability to outsource the handling of paper-based payments, according to PYMNTS.
More recently, Zego also partnered with housing tech platform 365 Connect to launch a property marketing and resident retention solution for the multifamily housing industry.
In other recent proptech news, AppFolio launched an integration marketplace, Stack, to provide third-party integrations within its centralized management platform. Keyway also raised a $25 million Series A for smaller, sub $20 million commercial real estate (CRE) transactions.