Zego Announces New Flexible Rent Partnership with Best Egg
Strategic partnership to offer in-app flexible payment solution to renters while protecting cash flow and revenue for multifamily operators
SAN DIEGO, Calif. (Oct. 31, 2023) — Zego™, a Global Payments (NYSE: GPN) company and leading property management automation platform, today announced a strategic partnership with Best Egg, a leading fintech that drives financial confidence. Beginning this month, renters who utilize the Zego™ Pay platform will be afforded a flexible, personalized rent payment option through the seamless integration of Best Egg Flexible Rent into the platform.
“Zego is committed to providing solutions that maximize efficiency and profitability for operators while delivering the ultimate resident experience,” said Mark Peters, President and General Manager of Zego. “We’re excited to announce this partnership with Best Egg, as the company’s Flexible Rent offering will enable property managers and operators to continue receiving on-time and in-full rent payments while empowering residents to pay in installments that best align with their personal cash flow.”
The partnership between Zego and Best Egg Flexible Rent enhances both the resident and multifamily operator experience. For a small fee to the renter, Best Egg Flexible Rent offers qualified individuals the flexibility to break up their rent into smaller payments made to Best Egg throughout the month. Simultaneously, Best Egg facilitates the payment of residents’ full monthly rent to the property manager. The tool also helps renters establish a record of on-time payments and, as a result, the opportunity to build credit.
At no additional cost to property managers, Flexible Rent helps provide flexibility and support to renters while also guaranteeing on-time, in-full payments, ultimately boosting satisfaction and reducing the costs associated with delinquency, eviction and turnover. By avoiding late or partial rent payments, the offering also cuts time spent on collections by property staff.
“Our partners at Zego are committed to offering both property managers and renters streamlined solutions for facilitating rent payments, which is often the largest monthly expense for the 48 million renters in the U.S.,” said David Sullivan, General Manager of Flexible Rent at Best Egg. “Best Egg Flexible Rent will improve financial confidence among renters and help Zego’s property manager customers attract, retain and support renters.”
“Best Egg Flexible Rent is a mutually beneficial solution that supports both renters and property managers in managing financial responsibilities,” said Brady Nolan, Chief Business Officer of Flexible Rent at Best Egg. “We look forward to working with Zego to offer renter-centric payment solutions to property managers across the U.S.”
For more information about Zego’s partnership with Best Egg, please visit https://www.gozego.com/platform/zego-pay/flexible-rent-payments/.
Zego (a Global Payments company) is a property management automation company that simplifies cumbersome yet critical workflows for managers and associations. Our mobile-first platform mitigates risk and accelerates NOI growth by helping clients scale resources, build trust, and make data-backed decisions. From payments and utility management to resident communications, all workflows seamlessly integrate into back-end systems, ensuring users have real-time and accurate information at their fingertips. Learn more about what makes Zego one of the best workflow automation platforms for property management at gozego.com.
About Best Egg
Best Egg is the leading financial confidence platform that provides flexible solutions to help people with limited savings confidently navigate their everyday financial lives. Best Egg supports customers through a growing suite of personal loans, credit cards, flexible rent, and financial health tools. Leveraging real-time customer insights and data engineering, Best Egg gives more people access to the resources they need to be money confident. For more information, visit www.bestegg.com.