NEW YORK—JP Morgan Chase is piloting a platform to facilitate rent payments for tenants living in multifamily housing. The new technology, called Story, is a rent management tool for multi-family property owners, Finovate reported.
As its core functionality, Story will enable landlords to automate rent invoices and receive rent payments, the report states.
As not all tenants pay rent on time or in full, Story serves as a platform to help landlords track which tenants have paid and which still owe. “Additionally, the new offering will provide property owners with analytics, help them determine rent prices, and will even offer a tool to screen potential new tenants,” Finovate said.
As for renters, Story will remind them of upcoming rent payments, offer them multiple payment options, enable autopay, track their previous rent payments, and show a copy of their lease, according to Finovate, which said the bank has not yet set a price for the tool, but indicated that it will not charge a transaction fee for ACH, debit, or credit card payments for the first year.
After that, Chase clients that hold an unspecified minimum balance will receive free ACH payments, Finovate explained.
Story, which is currently available in 15 U.S. states, will be released to a broader set of users next year.
The Very Best in CU Reporting. Every Morning. At a Price Every CFO Will Love
Don’t forget to check your Spam/Junk email folder if you haven’t been receiving your free, popular and daily CUToday.info news headlines.
And if you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time.
CUToday.info has received very positive response from readers following the move to an improved provider of the daily headlines, but many also noted they did need to go to their Spam/Junk folder and mark it as safe.
The new email solution has not only improved every reader’s delivery experience, but it also features a fresh, new format that is easy to read, especially on mobile devices.
Please note and/or make your IT department or email administrator aware the emails will be coming from the domains CUTodayinfo.com and CUTodayinfoReply.com.