Linked Card Rewards Reliable Tenants
A digital banking app with an associated debit card lets landlords reward tenants for paying rent on time, renewing their lease early or making a referral to another renter, the Wall Street Journal reports. Watson Living Inc. is among recent organizations to integrate financial technology within the real estate industry.
Taking advantage of opportunity to build financial services into the infrastructure between tenants and property owners is a smart play. Landlords increase lease renewals, on-time payments and resident engagement—and lease holders reap rewards. Payments innovation in this space—which includes enabling renters to build credit scores with on-time rent payments—is a move that benefits all involved.