BOSTON--(BUSINESS WIRE)--Buildium, the real estate industry’s leading property and association management solution, today announced its latest product enhancement, Retail Cash Payments; an integrated feature that allows residents to make rent and other payments in cash at one of many convenient retail locations.
Powered by PayNearMe, Buildium’s Retail Cash Payments eliminates the need for residents to have bank accounts, credit cards, or identification in order to pay rent. Residents of Buildium customers can make rent and other payments at more than 20,000 payment locations across the US, including one of the nation’s largest pharmacy retail brands, as well as 7-Eleven, ACE Cash Express, and Casey’s General Store.
Buildium customers will save time each month from having to collect and deposit cash payments, and will no longer need to do manual entries of cash payments. Collecting cash rent payments and money orders can disproportionately drive up their operational expenses in staffing to accept cash payments at a physical location.
“Because of the new Retail Cash feature, we’ve experienced more timely payments, less time spent picking up payments and posting notices, and better security,” said George “Chip” Spencer, Broker at Investor’s Choice Realty Suncoast in St. Petersburg, FL and longtime Buildium customer. “The best feature is not having to have an office in a prominent high rent district. As a result of Buildium’s Retail Cash Payments, we plan on moving our operations which will cut our office overhead in half!”
With Buildium’s Retail Cash Payments, common risks associated with cash payments are eliminated. Property managers no longer have any risk of chargebacks or payment disputes. When their residents pay at one of the convenient retail locations they avoid the risk of internal or external theft when collecting cash in person.
“Online payments are essential if you want to automate your business processes, and now Buildium customers are able to move to 100% electronic payments with Retail Cash Payments,” said Chris Litster, CEO of Buildium. “It makes life easier for residents and diversifies the ways in which property managers can automate the rent collection process in a secure, convenient, and reliable way. This is our next step in helping our customers—and their tenants—take advantage of the convenience that today’s technology offers.”
Buildium is the only property management solution that helps real estate professionals win new business from property owners and community associations seeking services. Backed by expert advice and relentless support, Buildium enables you to outperform across all facets of your business with intuitive software that balances power, simplicity, and ease of use. Buildium services over 15,000 customers in 46 countries, totaling over one million residential units under management. In 2015, Buildium acquired All Property Management, a leading online marketing service for property managers, making Buildium the only company to give property managers a way to acquire new customers and increase revenue. For more information, visit www.buildium.com, and connect with us on Twitter, LinkedIn, and Facebook.
PayNearMe, a service of PayNearMe MT, Inc., a wholly owned subsidiary of Handle Financial, Inc., has been enabling government agencies and businesses to accept cash payments remotely since 2009. Using PayNearMe, consumers can make payments on their own schedule, in their own neighborhood, at one of nearly 27,000 trusted locations in the U.S., which include 7-Eleven®, Family Dollar®, Casey’s General Stores and ACE Cash Express stores. PayNearMe processes cash payments for the IRS, Comcast, Greyhound, Oportun and the California Department of Child Support Services, among others.