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365 Connect and PropertyBridge Launch Integrated Online Rent Payment Platform

OAKLAND, CA – June 16, 2006 – 365 Connect has partnered with PropertyBridge to integrate a fully automated online rent payment platform with 365 Connect’s Resident Services Portal. The PropertyBridge Payments Platform will enable residents in communities that utilize 365 Connect’s Resident Services Portal to pay rent using any of six payment types including payment cards (credit and debit), ACH, and e-checks. Real time payment transaction data and regular reports will be available in the 365 Admin Dashboard. Integration with leading accounting and management systems is also available.

In addition to providing a popular amenity for residents, online payment processing will allow the property management firms using 365 Connect’s services to streamline and secure key business processes, freeing community managers from the time-consuming tasks associated with collecting rent. Additionally, clients will benefit from enhanced insight into portfolio receivables, accelerated funds availability, and reduced resident delinquencies.

Stated 365 Connect CEO Kerry W. Kirby, "PropertyBridge is by far the highest dollar volume processor of rent payments in the multifamily industry. Their technology platforms surpass anything available in the multifamily market today. This technology infrastructure includes a critical layer of PropertyBridge interfaces and tools that integrate with existing systems and business processes painlessly. PropertyBridge is also the first and only payments processor within the multifamily and property management industries to achieve PCI Level 1 compliance. In today’s environment of being compliant not only within the banking channels, but with the government mandated Patriot Act, PropertyBridge delivers from every end of the spectrum. Our agreement with PropertyBridge is a major milestone in building a truly integrated resident platform, one that is fully compliant, secure and understands the complexities of the multifamily industry."

Added Jason Gardner, PropertyBridge President, “It has always been PropertyBridge’s goal to offer ‘Best-of-Breed’ payment solutions. This makes it particularly gratifying when we partner with teams such as 365 Connect that share our philosophy and offer industry-leading systems to multifamily clients. Our agreement with 365 Connect promotes a deep level of collaboration in product development, marketing and business development. The 365 Connect Resident Service Portal is a great starting point for this. By connecting residents so effortlessly to a whole host of useful resources it is a logical and compatible online environment for the PropertyBridge Payments Platform. Managers at communities that employ both the 365 Connect Resident Service Portal and PropertyBridge also see many productivity benefits. It’s a win-win situation for property managers and their residents.

About 365 Connect

365 Connect was founded in 2003 by a team of multifamily housing professionals with extensive knowledge in real estate development, management and technology. 365 Connect is rapidly becoming a leader in web-based multifamily technology platforms, geared to provide resident interaction with community managers.  365 Connect specializes in servicing the multifamily industry with an array of web-based products that create management efficiency, resident retention and leasing integration

About PropertyBridge, Inc.

PropertyBridge is the leading provider of automated payment processing services for the real estate management industry. Formed in 2003 by a diverse group of financial services, technology, marketing and real estate professionals, PropertyBridge launched its first solutions for large multifamily housing and property management firms in 2004. PropertyBridge now serves customers across the United States. These include some of the largest residential real estate management companies serving millions of tenants. PropertyBridge, Inc. collaborates extensively with some of the financial service industry's largest organizations including Visa USA, Wells Fargo Bank, Discover Financial Services, MasterCard and First National Bank of Omaha.

Contacts

Peter Mansfield
Vice President of Marketing
pmansfield@propertybridge.com

365 Connect

1-866-548-3437

media@365connect.com