PayLease, the leading online payments provider for property managers and HOAs, today announced a definitive plan to combine with Ocius, the leader in convergent billing and utility management solutions for the multifamily industry. The unified company will deliver the most progressive payments, resident billing and utility management solutions for the property management industry.
PayLease’s web-based technology enables property managers to collect rent or HOA dues online, while integrating payments seamlessly into the management company’s accounting software. Since its inception over a decade ago, PayLease has grown to serve thousands of property management companies and HOAs nationwide, totaling nearly 10 million units.
Equally established as a technology provider in the property management space, Ocius has provided utility billing, submetering, invoice and payment processing solutions to apartment communities and HOAs for the past 15 years. They pioneered, and are the leading service provider of convergent billing, a process that consolidates rent, utilities and ancillary charges into one comprehensive bill. These services alleviate considerable Accounts Payable and Receivable work for property management companies.
Along with innovative technology solutions, according to Qwoter, both companies have built reputations based on their dedication to superior client and resident support. The two companies remain firmly committed to providing superior service and support, and will put this philosophy at the forefront of the newly combined entity.
“Ocius is the forerunner in convergent billing solutions and their products are the perfect complement to the PayLease payment platform,” said PayLease CEO, Dave Dutch. “Our combined companies will bring best-in-class solutions to streamline our clients’ intensive AR and AP needs. We are excited to join forces with Ocius and bring these businesses together.” Dutch added.
“This is a very exciting venture for our company as well as our clients,” remarked Keith Nelson, Ocius President. “I believe Ocius’ user-friendly approach to billing along with PayLease’s payments expertise will result in a powerful value proposition for the property management industry. We will be able to increase the value of our collective product and service offerings all while continuing to set the industry benchmark for quality service and support.”
The two companies look forward to sharing more details about their collaboration in the coming months.
PayLease (www.paylease.com) is the leading provider of online payments for the property management industry, targeting the multifamily, single-family and HOA markets. PayLease provides property managers the ability to accept and manage rent and HOA payments through a secure online interface. With PayLease, residents are able to pay their property manager using an e-check or with a credit card. Since its founding in 2003, PayLease has grown to serve thousands of property management companies nationwide and is among the fastest-growing technology companies in the United States.
Ocius invented the process of convergent billing 15 years ago and continues to be the innovation leader in this rapidly growing segment. Ocius also provides Utility Invoice Processing, Transaction Processing, Submetering, and Resident Portal solutions that help clients increase efficiency and improve results. Ocius currently provides services to half of the NMHC Top-50 Apartment Managers and processes more than $2 Billion in resident billing annually.
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