How to Build a Better Resident Payment Experience

Today’s renters expect a seamless resident payment experience at every touchpoint. Discover how modern payment solutions are evolving to simplify operations for property managers while delivering the digital-first experience residents demand.

Multifamily operators share a common goal: delivering an exceptional experience for prospects and residents. The more time you spend worrying about payment details, collections, or refunding security deposits, the less time you have to focus on what matters most—providing your renters with a quality living experience.

Resident payment technology has evolved dramatically over the past two decades. What started as a simple solution for online rent collection has grown into a comprehensive ecosystem. Today’s platforms manage utility billing, flexible payment options, digital refunds, and even resident rewards programs.

Recently, Chris Helmers, VP of Sales and Client Success at Zego, sat down with Brent Williams of Multifamily Insiders, to discuss this evolution. Their conversation traced Zego’s journey from its origins as PayLease to its current position within the Global Payments family. More importantly, they explored what’s next for the resident payment experience.

Here’s what multifamily operators need to know.

The Origin Story: Solving a Simple Problem

Not that long ago, the process of paying and collecting rent was an antiquated process. So much so that back in 2003, two recent college graduates in San Diego asked a simple question: “Why can’t I pay my rent online?”

At the time, online payments were still gaining traction. But these founders were about to change the course of multifamily payments. They built PayLease and became one of the first players in the online rent payment space.

There was clearly a need for the PayLease solution and the platform grew quickly. In 2015, Zego acquired a utility management firm, recognizing that if residents pay rent digitally, they should pay utilities the same way. The acquisition also helped multifamily companies solve one of their biggest headaches – utility accounts payable.

A few years later, an acquisition brought resident experience technology into the fold. This modernized many of the apartment-related tasks that notoriously created friction for renters.

After expanding well beyond rent payments, the company was due for a new identity. The PayLease name was retired and Zego was born.

In 2021, Zego joined Global Payments, the world’s largest technology payments provider. This partnership brought enterprise-scale resources while positioning Zego as the residential real estate payments specialist within a global powerhouse.

A Seamless Resident Payment Experience Is Now the Standard

Thankfully resident payment experiences have come a long way since the early 2000’s. Today’s renters grew up with smartphones in their hands. Many don’t own checkbooks. They pay for everything digitally and expect the same seamless experience from their apartment community that they get from their bank or favorite retailer.

Think about it. When you buy coffee, you tap your phone. When you split dinner with friends, you Venmo them instantly. When you shop online, you choose from multiple payment options and expect a frictionless checkout.

Why should paying rent feel any different?

“A lot of folks grew up using iPhones. They definitely grew up using the internet,” Helmers noted. “They want that quality experience that they’re getting from their banks, from their social media apps, from everywhere else.”

The old model forced residents to make multiple payments through multiple channels. Rent went to one place. Utilities went to another. Refunds arrived through yet another process—often weeks later, via paper check.

That fragmented experience doesn’t meet modern expectations. Today’s resident payment experience must be consolidated, convenient, and completely digital.

The Reverse Flow: Digitizing Security Deposit Refunds

Collecting rent efficiently solves only half the equation. What about money flowing out?

Helmers shared a story that illustrates the problem perfectly. One of Zego’s team members moved out of an apartment he’d shared with several roommates. Weeks later, the property manager mailed a single check with all their names on it. Some roommates had already left the state.

Getting that money required everyone to visit a bank together. In person. At the same time.

That’s not how modern life works. It’s certainly not the experience residents expect.

Security deposits represent significant money for renters. In today’s economy, those funds often go directly toward moving expenses or a down payment on a home. Residents want that money back quickly and conveniently.

Zego’s Resident Payouts digitizes the entire process so that renters can receive their refunds much faster. The resident moves out, the property manager calculates the return amount and documents any deductions, and the resident receives an email instantly. From there, residents choose their preferred refund method:

• Physical check — could take weeks to receive a check
• ACH transfer — funds arrive in a few days
• Instant electronic payment — money hits their account immediately

Why Digital Refunds Matter for Operators

The benefits of digital security deposit refunds extend far beyond resident satisfaction. Regulations around security deposit refunds are tightening across the country. Many states mandate strict timelines for returning funds. Mail a check that gets lost or delayed, and you’ve potentially violated the law—and lost control of the situation entirely.

“One bad lawsuit can be irreparably dangerous for your properties and for your portfolio,” Helmers warned.

Digital refunds provide documentation, speed, and certainty. You know exactly when the resident received their options. You have a clear record of when and how funds were delivered. The property manager’s work is automated. Compliance risks shrink. Everyone wins.

What’s Next: Rewarding Residents for Good Behavior

Here’s a striking statistic: 70% of renters have never received a reward for paying rent.

Think about that. Every time you buy coffee, you earn points toward a free drink. Every credit card purchase accumulates cash back. Loyalty programs are everywhere—except in the place where people spend more money than almost anywhere else.

Zego is changing that.

Their upcoming rewards program lets property managers incentivize specific behaviors. Pay rent online? Earn points. Accumulate enough points, and residents can redeem them for what they want most: rent discounts.

“The biggest thing that renters are asking and looking for is rent concessions,” Helmers explained. “We don’t need toys, we don’t need trinkets. We need cash back in our pockets because times are tight right now.”

The program creates a win-win dynamic. Residents feel valued and receive tangible benefits. Property managers drive adoption of efficient payment methods and build stronger connections with their community.

It’s gamification with real impact. A rewards program creates engagement with your property’s brand while delivering meaningful value to residents.

The initial focus centers on online rent payments. But the roadmap includes expanding to other behaviors that benefit both residents and operators. This is just the beginning.

What Property Managers Need to Deliver a Modern Payment Experience

The multifamily industry has changed. Resident expectations have risen. Technology has advanced. Payment processes that felt adequate five years ago now create friction and frustration.

Property managers evaluating their payment technology should look for solutions that address the complete money cycle, not just rent collection. Here are the key capabilities that define a modern resident payment experience:

Consolidated payments: Residents should pay rent, utilities, and fees in one transaction through one platform. Fragmented processes frustrate renters and create unnecessary work for your team.

Flexible payment options: Different residents have different needs. Your platform should support ACH, credit and debit cards, installment plans, and even cash payments at retail locations.

Digital security deposits: Paper checks are slow, risky, and increasingly out of step with resident expectations. Digital security deposit refunds give residents choice, speed your process, and protect you from compliance issues.

Rewards and incentives: Loyalty programs are everywhere except multifamily housing. Platforms that let you reward residents for desired behaviors—like paying online—build engagement and drive adoption.

Automated integrations: Every transaction should flow directly into your property management system without manual intervention. Clean data and consistent cash flow should be automatic.

The right technology handles complexity invisibly. Your team focuses on running great communities. Residents enjoy seamless, modern experiences. That’s the standard now and the operators who meet it will lead the market forward.