The company was founded in March of last year. Golis says that the main advantage for property owners and managers is the ability to accept credit card payments at no cost to them. Using the RentPayment system allows managers and providers of other tenant services to streamline their billing procedures, and speed up their turnaround time for payments. The company estimates that it will have 10 million users utilizing the system by 2002.
Golis indicated that the system has sparked the interest of several REITs and other large property owners. He noted that the system was being used by United Dominion Realty at some of the REIT's multifamily holdings around the Bay Area.
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