How JVM Realty Got Resident Buy-In for Online Payments

Just because you build it doesn’t mean they will automatically come. The apartment industry continues to implement and enjoy favorable adoption of online rent payments from residents. Drop boxes are being replaced with resident portals that allow renters to pay rent without leaving the comforts of their apartments. Employing the technology is only part of the process of moving to online transactions, eliminating the inconvenience and problems that come with paper handling. Successful conversion requires buy-in from employees and residents, and that means some gentle nudges so everybody realizes the benefit. “When our clients turn on online payments, consumers don’t happen to start using it overnight,” said Matt Davis, RealPage Senior Vice President of Technology. And onsite staff doesn’t always see the upside at first. “The reality is that change takes time and attention,” Davis said. “The number one driver of this is educating site staff. Not just letting them know you’re implementing an online payment services, but making them understand why.” Putting the word out about mandatory adoption This year, JVM Realty took a tactical approach in on-boarding residents and employees while successfully adopting an online rent payment at each of its properties. Based in Oak Brook, Ill., JVM operates a $700 million multi-family portfolio of apartments mostly located in the Midwest. Kortney Balas, an 11-year apartment industry veteran who started in the business as a leasing consultant and community relations coordinator, led the launch at the first of the year to fully convert all properties to accepting payments online. The mandatory adoption went better than expected after working several months to educate staff and residents. When Balas joined the company six years ago, about half of the residents in JVM Realty’s portfolio chose to pay online and the rest dropped a check or money order in the payment...