PayLease, a specialist in payments, billing, and utility expense management provider for property management companies and HOAs, inked a strategic partnership with PayPal that will give renters and homeowners more options when paying their property manager online.
HOAs and Property Management Companies who use PayLease will now have the option to accept PayPal transactions when collecting rent and HOA dues. Offering PayPal as a rent payment option provides more convenience for residents and homeowners, and also boosts online payment utilization – giving property managers a smoother collection process and faster funding time.
To make an online rent payment or dues payment using PayPal, residents will log in to their property management company’s website, or to PayLease.com. After selecting PayPal as their payment method, residents will be prompted to enter their PayPal login credentials. When the resident completes their transaction, payment data will integrate into the property manager’s accounting software and within their PayLease account.
The partnership between PayLease and PayPal is a first in the property management industry.
Initially, PayLease will offer PayPal transactions to a limited number of clients on a first-come, first-served basis. The Company will then offer the option to its entire client base in the coming months.
In 2015, 28% of the 4.9 billion payments wPayPal processed were made on a mobile device.
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