PayLease, a leading payments, billing, and utility expense management provider for the property management and HOA industry, today announced the release of its annual Market Survey. The survey, conducted by Martec Research, polled over 1,300 US-based property management companies and HOAs about their methods for accepting payments from residents, and how they manage and recoup utility expenses. Results of the PayLease Market Survey are summarized and analyzed in a new white paper titled, A Property Manager’s Guide to Payments, Billing, and Utility Management.
The white paper will help HOAs and property management companies understand how aspects of their business operations compare to their competitors. The publication also seeks to educate readers on the various ways to recoup utility costs from residents. Also discussed in depth is utility expense management, a fairly new trend in the property management industry.
Some of the key findings revealed in the white paper include:
- A majority of HOAs, multifamily, and single family firms offer online payment options for rent/HOA dues
- Multifamily firms are increasingly billing residents for utilities instead of including them in the price of rent
- Submeters are becoming more popular and are the most efficient way to calculate resident utility usage
- Close to 90% of survey respondents reported their company pays its vendors using paper checks instead of electronic methods
To read all of the findings from PayLease’s Market Survey, click here to download the white paper.
About PayLease
PayLease provides online payments, billing, and utility expense management tools to HOAs and property management companies. Property managers use PayLease to offer their residents convenient online payment options and to improve their business’ operational efficiencies. Our solutions are easy-to-use and are backed with the highest levels of security and customer support. Since our inception in 2003, PayLease has grown to serve thousands of property management companies nationwide and is among the fastest-growing technology companies in the United States.
