less time spent on handling security deposists
residents utilize deposit payment plans
need to reissue security deposit checks
Rentable’s security deposit solution has elevated the leasing experience for managers, residents and corporate staff.”
Before Rentable, each security deposit required up to 4 hours of OPG’s onsite staff and accountant’s time. These tasks included: making sure all charges match, communicating with residents regarding payments, reconciling multiple bank accounts, and collecting forwarding addresses to issue refund checks. Even when the process was executed perfectly, OPG was still stuck dealing with problems surrounding refund checks not being cashed or needing to be reissued.
Before Rentable, each security deposit required up to 4 hours of OPG’s onsite staff and accountant’s time. These tasks included: making sure all charges match, communicating with residents regarding payments, reconciling multiple bank accounts, and collecting forwarding addresses to issue refund checks. Even when the process was executed perfectly, OPG was still stuck dealing with problems surrounding refund checks not being cashed or needing to be reissued.
Mike Napovanice, President of Orion Property Group
LPZ Management embraced Rentable’s seamless integration within RentManager to eliminate the
hassle of navigating multiple platforms.
Joseph Feldman, President of LPZ Management speaks on Rentable’s deposit management
solution, the platform is “one system, one operation and one critical part of one piece of
what we do, but it worked seamlessly with what we were trying to accomplish with
security deposit management and ACH Refunds.”
The integration streamlined their deposit workflows for the entire organization, reducing
complexities for staff, and allowing property managers to focus on leasing units, optimizing
renewals and providing a delightful tenant experience.
LPZ Management utilizes Rentable to give time back to their leasing and back office staff by
automating tasks, centralizing information, and simplifying deposit-related paperwork to
fulfill compliance needs. In New Jersey, management companies have to create individual
sub-accounts for resident deposits, track interest accrual, interest payments and ensure that
refunds occur within a 30 day window. By outsourcing their deposit management process with
Rentable, LPZ is able to increase productivity and deliver exceptional service to tenants while
still fulfilling their compliance needs.
Rentable’s integration and innovative features accelerated LPZ Management’s leasing process,
ensuring a competitive edge in the market. Michael Bick, Chief Operating Officer of LPZ
Management recalls:
“We’re not sure how many other companies in New Jersey are using this type of
platform. But it provides end flexibility for tenants that helps the leasing process – and
fewer handoffs between our leasing and bookkeepers – no questions.”
LPZ Management is able to handle all deposit management processes directly through Rentable’s
integration with RentManager. Property managers and accounting staff no longer have to chase
tenants down for forms and information, rather management teams focus on their leasing units
faster while Rentable takes care of the specific and nuanced compliance requirements for tenants
and staff.
LPZ Management’s transition from manual check processing to hassle-free ACH refunds facilitated by Rentable has added immense value to the organization. Joseph and Michael understand the benefits of electronic transactions, including improved accuracy, reduced
processing time, and enhanced financial transparency for property managers, accountants, and tenants. Rentable’s ACH payments and refund processes is a seamless experience for both property managers and tenants, setting a new standard for financial transactions in property
management.
Joseph reflects: “our team no longer has to enter tenant checks and process deposits manually into the Rent Manager and tie out our bank accounts. We eliminated the whole manual deposit, withdrawal functions, and automate the secure deposit refunds without having to do any physical checks being sent out.”
By using Rentable, LPZ Management ensures that tenants can secure their leases safely and securely, with fewer steps. Similarly, office staff can return security deposits directly to the tenant’s accounts directly by ACH with a few clicks.
Rentable’s seamless deposit management platform aligns with LPZ Management’s innovative and forward thinking approach to property management. Throughout the past year, LPZ Management has fully adopted and rolled out Rentable’s platform across their portfolio to provide more efficient leasing workflows and provide unparalleled tenant experience.
Rentable’s easy to use integration, time-saving features, and hassle-free compliance suite and ACH refunds are shaping the landscape of property management. Experience the evolution firsthand and elevate your property management endeavors with Rentable—a solution tailored for success. Embracing the Future of Property Management
Rentable is an industry leading company that’s modernizing the move in and move out process for landlords and tenants alike. First and foremost, Rentable is tackling security deposit management, an antiquated, on-paper undertaking that creates unnecessary headaches and friction. Landlords are liable for damages when traditional security deposits are not handled properly, but they have not been provided with effective alternatives, until Rentable.
Rentable’s easy-to-use platform allows security deposits to be managed transparently and with ease, giving landlords and property managers time back to focus on scaling their businesses. Additionally, landlords and tenants seamlessly interact through the platform, creating better relationships that minimize disputes, increase transparency, and decrease turnover.
To learn more, please reach out to sales@rentable.com
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Alison Phillips
VP of Multifamily & Commercial, First Service Residential
Tana Weissman
Managing Director & COO, The Broadway Company
Ernesto Gaxha
Co-founder, SplitSpot
Adam Mundt
Owner & Principal, Kingston Real Estate Management
Alison Phillips
VP of Multifamily & Commercial, First Service Residential
Tana Weissman
Managing Director & COO, The Broadway Company
Ernesto Gaxha
Co-founder, SplitSpot
Adam Mundt
Owner & Principal, Kingston Real Estate Management
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