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news RELEASE
Campus Advantage Selects PropertyBridge to Process Electronic Rent Payments
More than half of residents at deployed properties take advantage of the ability to pay rent online and schedule recurring rent payments
OAKLAND, CA - January 9, 2008 - PropertyBridge, Inc., a MoneyGram company, the leading provider of electronic payment services to the residential real estate management industry, today announced that it has been selected by Campus Advantage to provide payment services to residents. Headquartered in Austin, Texas, Campus Advantage specializes in student housing facilities and currently manages over 11,000 apartment units in 17 states.
Through the PropertyBridge Payments Platform™, residents of Campus Advantage communities can pay their monthly rent via their credit/debit card or checking account (ACH). Payments can also be scheduled in advance so that tenants never have to worry about when their rent is due.
“We are extremely impressed with the adoption rates we’ve reached since rolling out the program last year,” stated Michael Hanley, VP of Professional Services for Campus Advantage. “The rates we’ve seen far exceed industry standards. We believe our decision to offer a variety of payment options and absorb the fees have significantly contributed to our success,” he added.
“With a resident base comprised of young men and women that have grown up on the Internet, an electronic payments solution makes perfect sense for student housing managers like Campus Advantage,” stated Jason Gardner, Vice President of Business Development at PropertyBridge. “It’s a win-win scenario - the management firm improves internal efficiencies and reduces delinquencies, while at the same time providing a valuable amenity for residents.”
Transaction adoption rates by PropertyBridge clients are the highest of any payment processor serving the multifamily industry. This is due in part to the company’s customized marketing support and unique programs to measure program success. As a result, property managers are able to quantify their return on investment and make modifications to program to support business goals.
About Campus Advantage
Campus Advantage specializes in consulting, management and student development programming services related to student housing facilities. We create winning partnerships between colleges, universities, investors and owners of public and private student housing in order to help students achieve their academic and personal goals. By creating environments where students thrive, we promote an atmosphere of success for all of our customers. We offer management and asset management services, development, acquisitions, consulting and resources for privatized and public student housing communities.
About PropertyBridge, Inc.
PropertyBridge, a MoneyGram Company, is the leading electronic payments processor for property managers and real estate owners in the multifamily housing industry. The PropertyBridge Payments Platform™ enables residents to pay rent and other lease-related transactions using multiple payment types, including credit and debit cards, Automated Clearing House (ACH), check scanning (Check 21/ARC), cash payments at MoneyGram agent locations, online bank bill payment, and lockbox services. PropertyBridge’s rent payment solutions are fully integrated with the accounting systems and business processes of property management firms. Residents can pay rent online, by phone or in person and set up recurring payments. The company collaborates extensively with financial services leaders including Visa USA, MasterCard, Discover Financial Services, American Express, Wells Fargo Bank and First National Bank of Omaha. MoneyGram, Inc. acquired PropertyBridge in October 2007.
Contacts
Peter Mansfield
Vice President of Marketing
pmansfield@propertybridge.com
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