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news RELEASE
PropertyBridge Accelerates Lease-ups with Electronic Payments from PropertyBridge
OAKLAND, CA - May 23, 2007 - PropertyBridge, Inc., the leading payment services provider in the multifamily housing industry, today announced that it has been selected by Post Properties (NYSE:PPS) to provide the ability for prospective residents to reserve an apartment with a credit card at its portfolio of communities. Headquartered in Atlanta, Georgia, Post Properties is one of the nation’s leading owners and managers of multifamily real estate properties with over 22,000 units.
Prospective residents at Post communities can now pay application fee and deposit payments by credit card through the Lease-up Module from PropertyBridge. The Lease-up Module’s ‘Authorize and Hold’ functions allow Post community managers to authorize credit card information without actually making a charge, and process payment once the unit is reserved.
“Many people don’t carry a checkbook, so the ability to quickly hold an apartment or pay an application fee with a credit card is a great advantage. People appreciate the convenience, and the potential to earn points or miles,” commented Jodi Harrison, Property Manager at Post Addison Circle in Dallas, Texas.
Carol Sheridan, Area Vice President for Post Properties, stated “We’re thrilled with our solution from PropertyBridge because it allows us to deliver superior satisfaction and value to our customers while enhancing our own operational efficiencies. After seeing immediate success, we are anxious to roll this program out to additional Post properties as swiftly as possible.”
PropertyBridge President Jason Gardner stated, “We look forward to working closely with Post to roll out additional properties. The initial success of the Lease-up Module at Post can be partly attributed to their decision to cover the credit card transaction fees. This makes sense given that this popular amenity has allowed Post to close more new business and improve business process in a short period of time.”
The Lease-up Module is a component of the PropertyBridge Payments Platform™, which processes the largest dollar volume of automated electronic payments in the multifamily housing industry. PropertyBridge enables residents to pay rent and lease-related transactions using any of six payment types including payment cards (credit and debit), ACH, e-checks and in-person cash payments.
About PropertyBridge, Inc.
PropertyBridge is the leading electronic payments processor for property managers and real estate owners in the multifamily 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 Western Union, 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.
Contacts
Peter Mansfield
Vice President of Marketing
pmansfield@propertybridge.com
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