PropertyBridge’s 2009 Community Contest Boosts Electronic Payments by 31% Across Thousands of Apartment Properties Nationwide
Oakland, CA – June 3, 2009 - PropertyBridge, Inc., a MoneyGram company, and the leading provider of electronic payment services to the residential real estate management industry, today announced the results of its 2009 Community Contest, a marketing promotion for community managers that began February 1, 2009 and ended April 30, 2009.
The contest aimed to increase PropertyBridge transactions by awarding cash prizes to managers of communities with the largest increase in transactions over the previous month. Participating clients saw electronic transactions at their properties increase by an average of 31%. Grand prize winners, properties with the largest increase in electronic payments over the entire contest period, saw their transaction increase by an average of 97%.
We are extremely pleased with the boost in electronic payment adoption rates as a result of the Community Contest”, said Trevor Bert, Controller for 155 properties managed by Dallas-based Westdale Asset Management. “ A 47% increase in transactions at top performing properties is evidence that our communities were very motivated by the contest and worked hard to promote paying rent with PropertyBridge,” he added.
Jessie Sordahl, Business Manager at Broadstone Ancala Apartments in Scottsdale, Arizona, said that the contest provided an additional incentive to promote the convenience of paying rent with PropertyBridge. “We reminded everyone who brought a rent check to our office that they could save time by paying with a credit or debit card online. Fewer checks in the leasing office gives us more time to focus on other important tasks,” stated Sordahl. Broadstone Ancala won the grand prize for Alliance Residential Company, boasting a 61% increase in electronic transactions during the promotion period.
Three monthly cash prizes and one $500 grand prize were awarded to each participating client. All program costs, including more than $50,000 in marketing materials and prizes, were funded by PropertyBridge.
PropertyBridge will launch its second annual Resident Sweepstakes program in July, another promotional program offered exclusively to property management companies using its automated payment services.
About PropertyBridge, Inc.
PropertyBridge, a MoneyGram Company, is the 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 more than 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 and First National Bank of Omaha. MoneyGram, Inc. acquired PropertyBridge in October 2007.
Contact
Summer Palma
Marketing Manager
(510) 463-3033
spalma@moneygram.com
