PayLease, a leading online payments provider for the property management and HOA industry, today released its 2nd Annual Market Survey about online payments in the property management industry. The survey, conducted by New Heights Research on behalf of PayLease, provides a comprehensive overview of how HOA and multifamily firms are using online payments for the collection of rent and homeowner dues. It revisits 585 management firms, originally polled in 2012, to determine:
- The number of HOA and multifamily firms with an online rent payment solution
- E-payment adoption by unit count for HOA and multifamily firms
- The percentage of firms who have added an online rent payment solution since 2012
- The percentage of firms who have added new features to their online rent payment solution
- The number of firms who have switched online rent payment providers
A key finding in the 2013 survey was that online payment usage has increased among all sectors of the HOA and multifamily industry since 2012. Additionally, firms seem to be more comfortable with online payment technology and are adding new payment methods to their existing solution at a significant rate. The survey also found that there is a sizeable portion of firms who have switched online payment providers in the past year.
PayLease has compiled the survey results along with an analysis of the findings into a new white paper titled Online Payments in the Property Management Industry: 2013 Market Survey Findings. To read detailed statistics from the survey, download the white paper here.
PayLease (www.paylease.com), is a leading electronic payments provider for the property management industry, specifically targeting the multifamily, single family, HOA and commercial markets. PayLease provides property managers the ability to accept and manage rent payments and HOA payments through a secure online interface. With PayLease, residents are able to pay their property manager using an E-check, a credit card or with cash from a retail location. Since its inception 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.