Financial constraints on consumers and such market conditions as record new unit inventory growth and relatively high interest rates are creating challenges for rent growth and vacancy rates. The landscape is one in which landlords, investors, and developers need new approaches to strengthening their returns.
Real Page and rewards company Bilt are betting that a proper combination of behavioral economics and digital delivery can improve multifamily profitability by enticing and directing beneficial renter behavior.
The idea is to directly reward timely payments and also offer free credit reporting. The main motivation will be Bilt points that the companies say are "coveted by residents."
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