AIMCO Goes Green and Plans to Increase Electronic ACH Adoption by Automating Resident Payments with PropertyBridge
New case study details how AIMCO has worked to accomplish their goal of 15% annual growth in automated payments, while providing greater convenience to residents
OAKLAND, CA – July 28, 2010 – PropertyBridge, Inc., a MoneyGram company, and a leading provider of electronic payment services to the multifamily housing industry, today announced the release of a case study with property management client Aimco. Through its subsidiaries and affiliates, Aimco (NYSE: AIV) is one of the largest owners and operators of apartment communities in the United States with 853 properties, including 131,549 apartment units, serving approximately 500,000 residents each year.
The case study examines the effects of Aimco utilizing PropertyBridge to automate resident payments including rent, application fees, move-out and cleaning and damage fees. Since implementing its electronic payments program with PropertyBridge five years ago, Aimco has seen improved efficiencies and estimates annual savings as a result of reduced administrative work by on-site staff and promotion of electronic statements to residents.
Melanie French, Senior Vice President of Operations for Aimco stated, “Our partnership with PropertyBridge provides greater efficiencies for our team members at our properties so they can focus on customer service rather than administrative tasks. Increasing automated payments has the dual benefit of helping us be more environmentally responsible while adding value to our bottom line.”
”One aspect that makes PropertyBridge unique is our ability to maintain a high level of personalized client support. All clients, Aimco included, receive a dedicated account manager and marketing services to help ensure a positive return on investment,” stated Todd Marshburn, Director of Client Services at PropertyBridge.
With the help of PropertyBridge’s marketing campaigns and incentive programs, Aimco has consistently increased electronic payment enrollment over the past year and is on track to see a 15% increase in electronic rent payments by the end of 2010. “PropertyBridge has been an effective partner for Aimco, helping us with marketing, implementation and evaluation tools to ensure that we maximize our results and reach our revenue goals,” said French.
Click here to read the case study
About Apartment Investment and Management Company (Aimco)
Aimco is a real estate investment trust headquartered in Denver, Colorado that owns and operates a geographically diversified portfolio of apartment communities. Through its subsidiaries and affiliates, Aimco is one of the largest owners and operators of apartment communities in the United States with 853 properties, including 131,549 apartment units, serving approximately 500,000 residents each year. Aimco’s properties are located in 44 states, the District of Columbia and Puerto Rico. Aimco common shares are traded on the New York Stock Exchange under the ticker symbol AIV and are included in the S&P 500.
For more information about Aimco, please visit our website at www.aimco.com.
About PropertyBridge
PropertyBridge, a MoneyGram company, is a leading electronic payments processor for property managers and real estate owners in the multifamily housing industry. The PropertyBridge Payments Platform enables residents to pay rent and other lease-related transactions using multiple payment types, including credit and debit cards, Automated Clearing House (ACH), check scanning (Check 21) and cash payments at 40,000 MoneyGram agent locations. PropertyBridge’s rent payment solutions are fully integrated with the accounting systems and business processes of property management firms. Residents can pay rent online, by phone or in person and set up recurring payments. The company collaborates extensively with financial services leaders including Visa USA, MasterCard, Discover Financial Services, American Express, Wells Fargo Bank, Bank of America and First National Bank of Omaha. MoneyGram, Inc. acquired PropertyBridge in October 2007.
Contact
Summer Palma
Marketing Manager
(510) 463-3033
spalma@moneygram.com
