SOURCE: PropertyBridge

May 03, 2006 16:00 ET

Alliance Residential Company Selects the PropertyBridge Payments Platform™

OAKLAND, CA -- (MARKET WIRE) -- May 3, 2006 -- PropertyBridge, Inc., the leading payment services provider in the multifamily industry, today announced that it has been selected by Phoenix-based Alliance Residential Company to provide payment services for residents of its 36,000 unit portfolio.

PropertyBridge's automated payments service met the varied requirements of the over 120 apartment communities managed by Alliance Residential. These communities range from Class "AAA" to Class "B" apartment communities.

The PropertyBridge Payments Platform™ allows Alliance Residential residents to choose a number of payment types including credit card and ACH (Automated Clearing House), and also offers recurring payment options. In addition to providing a popular amenity for residents, the new payments approach will streamline and secure key business processes at Alliance Residential.

Stated Cameron Omoto, Program Manager at Alliance Residential, "It was critical that our payments solution was not only compliant and secure, we needed a transactional infrastructure that was flexible enough to integrate with Yardi Systems and a mix of accounting environments across more than 120 communities. PropertyBridge was clearly the best-of-breed. By tailoring payment types to the demographic profiles of each community we can present the right payment options to residents at the right time. On the administrative side we are freeing community managers from the time-consuming tasks associated with collecting rent and other lease-related payments."

PropertyBridge President Jason Gardner stated, "We are thrilled to be partnering with an industry leader that has established a reputation as a pragmatic user of technology in serving the needs of residents and property owners. The PropertyBridge Payments Platform is ideally suited to Alliance Residential's particular requirements and we are delighted to see it becoming a key strategic element in their arsenal."

The PropertyBridge Payments Platform™ processes the largest dollar volume of automated electronic payments in the multifamily housing industry. PropertyBridge enables residents to pay rent and other lease-related transactions using any of six payment types including payment cards (credit and debit), ACH, and e-checks. The company provides large property management firms with a previously unattainable level of integration and administrative efficiency in this key area of their business.

About Alliance Residential Company

Alliance Residential Company (www.allresco.com) is a fully integrated multi-family real estate operating company focused on development, acquisition, construction and management of multi-family residential and mixed-use communities in the Western and South Central United States. As the 9th largest Third Party management company in the Western United States, Alliance boasts a $5.5 portfolio spanning 10 states and 18 major metropolitan markets. Alliance has offices in Seattle, San Francisco, Palo Alto, Sacramento, Los Angeles, Orange County, San Diego, Phoenix, Las Vegas, Salt Lake City, Denver, Dallas, Austin, Houston and Atlanta. Presently under management are over 120 apartment communities, containing approximately 36,000 units. Properties range in size from 50 units to 3,400 units, and range from Class "AAA" to Class "B" apartment communities.

About PropertyBridge, Inc.

PropertyBridge (www.propertybridge.com) is the leading provider of automated payment processing services for the real estate management industry. Formed in 2003 by a diverse group of financial services, technology, marketing and real estate professionals, PropertyBridge launched its first solutions for large multifamily housing and property management firms in 2004. PropertyBridge now serves customers across the United States. These include some of the largest residential real estate management companies serving millions of tenants. PropertyBridge, Inc. collaborates extensively with some of the financial service industry's largest organizations including Visa USA, Wells Fargo Bank, Discover Financial Services, MasterCard and First National Bank of Omaha.

Contact Information

  • Contact:
    Peter Mansfield
    Vice President of Marketing
    PropertyBridge
    Email Contact