Pay Ready Announces Partnership with 11Residential to Optimize Resident Recovery Process

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Jun 12, 2024, 07:00 ET

LAS VEGAS, June 12, 2024 /PRNewswire/ -- Pay Ready, a trailblazer in redefining resident recovery solutions, is excited to announce its partnership with 11Residential, a leader in residential property management. This collaboration aims to enhance 11Residential's post-move-out process by leveraging Pay Ready's innovative recovery technology, promising significant improvements in efficiency and resident relations.

Highlights of the Partnership:

11Residential logo and Pay Ready logo

- Advanced Recovery Solutions: Pay Ready will manage the communication and financial interactions after residents move out, significantly reducing the workload for 11Residential's property management teams.

- Seamless System Integration: Pay Ready's technology will be integrated with 11Residential's existing management systems and centralized SODA process, providing real-time analytics and data to improve operational efficiency and increase recovery payment success.

- Improved Financial Returns: The partnership is designed to maximize recovery rates and minimize financial losses from uncollected dues.

- Enhanced Resident Experiences: The process ensures a positive experience after move-out, maintaining the integrity of the brand and ongoing resident relationships.

Lynn Musil, CEO of Pay Ready, expressed his enthusiasm about the partnership, stating, "Our partnership with 11Residential exemplifies our commitment to revolutionizing the recovery process within property management. By integrating our sophisticated technology with 11Residential's services, we aim to transform the post-resident experience and deliver superior results."

Kim Olander, Director of Compliance at 11Residential, commented on the collaboration, "Working with Pay Ready allows us to leverage their advanced post-resident recovery platform with an immediate communication outreach to our former residents and allows our on-site teams to focus on higher-level tasks. The combination of our centralized internal process to ensure quality and file completeness, combined with the automatic transfer of files through integration with our operating software, has enhanced our recovery operations and has made it a seamless transaction. It is the perfect partnership of quality files from us to allow the Pay Ready teams' success to collect, which has enhanced our resident recovery operations, bringing more value to our bottom line and ensuring our former residents receive the best possible service."

About 11Residential

11Residential is a successful property management company with a current portfolio of 53 communities spanning Washington, Montana, Idaho, and California regions with 4,668 units. Based out of Kirkland, Washington, since 2021 at 11Residential, we believe every resident deserves personalized attention and high-quality services from our property management team. For more information, please visit 11Residential.com

About Pay Ready

Since 2016, Pay Ready's innovative post-resident payment technology has revolutionized the way owners, operators, and residents engage with post-resident account receivables. Pay Ready has formed major partnerships nationwide in 3 million multifamily units with over $1 billion in serviced receivables. Pay Ready outperforms traditional post-resident payment processes and aids in brand protection. Pay Ready's advanced technology has empowered property owners and operators to focus on revenue generation and growth while leaving the arduous process of debt management to Pay Ready. Visit payready.com for more information.

MEDIA CONTACT
Janis Rossi
Pay Ready
[email protected]

SOURCE Pay Ready