PayLease, the payments, billing and utility expense management company focused on property management companies and homeowners associations (HOA), announced on Tuesday (Sept. 27) a strategic partnership with PayPal.
Under the partnership, renters and homeowners will have more options when paying their property manager online. HOAs and property management companies who use PayLease can now accept PayPal for transactions when collecting rent and homeowners association dues. By enabling payments by PayPal, the companies said in a press release, it makes it more convenient for residents and homeowners and also provides property managers with a smoother collection process and a faster time getting funds.
“We’re excited to provide more payment options to our property management clients and to residents living in their communities,” commented Dave Dutch, CEO at PayLease, in a press release. “With the convenience associated with PayPal transactions, we are making it easier for millions of renters and homeowners to pay their property manager. That will result in more online payments for property managers, which exponentially simplifies their collection process.”
To make a rent payment online or pay HOA dues, residents will log onto their property management company’s website or PayLease.com, and after selecting PayPal as their payment method, they will be prompted to log into PayPal. Once the payment is complete, the transaction and payment date will be integrated into the property manager’s accounting software, as well as within their PayLease account. The companies said the partnership is the first of its kind for the property management industry.
“At PayPal, we build technology to make payments simple and secure for hundreds of millions of people all over the world.” said Steve Fusco, VP and GM of PayPal’s North American distribution. “PayLease shares this passion and has been transforming the experience for property management companies and HOAs. We are excited to partner with PayLease in shaping the future of what’s possible in property management.”
Initially, PayLease will offer PayPal transactions to a limited number of clients on a first-come, first-serve basis. The company will then offer the option to its entire client base in the coming months.