PayLease today announced 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.
“We’re excited to provide more payment options to our property management clients and to residents living in their communities,” commented Dave Dutch, CEO at PayLease. “With the convenience associated with PayPal transactions, we are making it easier for millions of renters and homeowners to pay their property manager. That will result in more online payments for property managers, which exponentially simplifies their collection process.”
The partnership between PayLease and PayPal is a first in the property management industry.
Steve Fusco, VP and GM of PayPal’s North American Distribution commented on the partnership saying, “At PayPal, we build technology to make payments simple and secure for hundreds of millions of people all over the world.” He added, “PayLease shares this passion, and has been transforming the experience for property management companies and HOAs. We are excited to partner with PayLease in shaping the future of what’s possible in property management.”
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.
PayLease provides online rent payments, billing, and utility expense management tools to HOAs and property management companies. Property managers use PayLease to offer their residents convenient online payment options and to improve their business’ operational efficiencies. Our solutions are easy-to-use and are backed with the highest levels of security and customer support. Since our 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.
At PayPal (Nasdaq:PYPL), we put people at the center of everything we do. Founded in 1998, we continue to be at the forefront of the digital payments revolution. PayPal gives people better ways to manage and move their money, offering them choice and flexibility in how they are able to send money, pay or get paid. We operate an open, secure and technology agnostic payments platform that businesses use to securely transact with their customers online, in stores and increasingly on mobile devices.
In 2015, 28% of the 4.9 billion payments we processed were made on a mobile device. With our 188 million active customer accounts, PayPal is a truly global payments platform that is available to people in more than 200 markets & countries, allowing customers to get paid in more than 100 currencies, withdraw funds to their bank accounts in 56 currencies and hold balances in their PayPal accounts in 25 currencies.
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