LOGAN, Utah--(BUSINESS WIRE)--Rent Dynamics, a multifamily software and services company impacting the resident journey, today announced its partnership with Quext, a smart building and property management platform built by multifamily and apartment industry experts. Combining their offerings of QuextPay and RentPlus, the partnership will help residents nationwide build long-term financial health while also benefiting property operators and owners by simplifying financial processes across properties—providing all stakeholders opportunities for greater financial literacy, credit-building options, core banking services, and added value to their multifamily portfolios.
The integration of RentPlus’ credit reporting and financial services program and QuextPay’s digital banking and financial services platform is the only offering on the market that benefits all three stakeholders: residents, site staff, and property owners/operators. Operators are finally able to use their buying power to positively impact their residents, while also giving residents a reason to stay at a property longer. As the first-of-its-kind proptech/fintech solution tailor-made for multifamily properties—the RentPlus and QuextPay partnership is transforming the industry, empowering multifamily owners and operators to implement a responsible ESG initiative that promotes economic inclusion.
“We were impressed with Quext’s breadth of proptech innovation and depth of experience in the multifamily industry,” said Mike Wolber, Chief Revenue Officer of Rent Dynamics. “Both Quext and Rent Dynamics have a similar mission: to put residents first. This partnership embodies our empathy for the resident journey by offering life-changing opportunities and knowledge for residents to use well beyond the time spent in their current apartments—while simultaneously providing significant value for operators.”
By allowing residents to establish and build their credit just by making on-time rental and utility payments, RentPlus empowers unbanked and under-banked populations, giving them the opportunity to accumulate credit without taking on new debt. Residents using RentPlus on average see a credit point improvement of 26 in one year. RentPlus also provides best-in-class financial education programs to help residents prepare for the future, such as qualifying for large purchases like a car or home.
“It has been amazing to witness the value that RentPlus has added to our communities, not only to our portfolio value, but the positive, meaningful impact it’s had on our residents’ lives,” said Kainoa Clark, CMO of The Wasatch Group, which manages more than 15,000 apartments and commercial properties. “The new debit and secured credit cards are wonderful additions to RentPlus that will give our residents access to financial tools and resources that will help them achieve long-term financial success. We could never have imagined a program to have such great benefit to not only our company value but also to our residents' future.”
QuextPay furthers the offering by integrating its digital banking solution with RentPlus’ reporting capabilities. This partnership makes banking and payments more accessible to individuals without access to credit, and helps improve it in a risk-free, efficient way. The addition of QuextPay’s digital banking platform and RentPlus makes the billing process more efficient for property operators/owners, while also giving the resident everything they need to succeed financially, including access to banking that is often out of reach for many (similar card products in the space require minimum income and credit score requirements unattainable for many renters).
“We are thrilled to partner with such a forward-thinking and authentic company,” said Dave Gilles, CEO of Quext. “Rent Dynamics’ commitment to putting people first is demonstrated through every aspect of their offerings. As we strive to create property technology that makes smarter decisions brilliantly simple, Quext aims to democratize these solutions to the widest possible end user. We look forward to continue to make positive changes for residents and operators alike.”
This solution will be featured at the National Apartment Association’s Apartmentalize conference August 31 - September 2, in Chicago. Quext and Rent Dynamics will be showcasing the solution and executives from both organizations will be available for onsite interviews at Apartmentalize.
About Rent Dynamics
Rent Dynamics provides value throughout the resident journey - Marketing, Leasing, and Retention. Our intuitive CRM incorporates advanced business intelligence for increased visibility into your lead to lease pipeline, while our Contact Center is there to be an extension of your team. Our RentPlus product provides resident rent reporting and financial resources that promote economic inclusion and financial freedom for renters. To learn more, visit https://rentdynamics.com/.
Quext is a game-changing technology and software company that makes smarter decisions brilliantly simple. Created by industry experts, Quext reimagines apartment technology with products that work seamlessly together delivering the easiest-to-learn, most intuitive, all-in-one, cloud-based apartment community nerve center ever offered. Core platform innovations include internet of things, property management, digital human customer support, high-speed internet, and property websites. Quext is a people-centric firm backed by Madera Residential, an industry leader in multi-family housing investment and property management. Quext purchased Viva Equity, a digital banking and financial services company in 2020. The acquisition has enabled Quext to revolutionize money movement in the prop-tech space. Headquartered in Lubbock, TX, the company was recognized as a winner of the Fierce Wireless IoT Challenge 2020. To learn more, visit https://onequext.com/ or follow us on Facebook at https://www.facebook.com/onequext.