Accounts Receivable Management for Multifamily Housing

In this episode of the Multifamily Innovation® Podcast, host Patrick Antrim sits down with Lynn Musil, CEO and Co-Founder of Pay Ready. Lynn shares his journey in the multifamily industry and the innovative solutions his company provides for managing post-move-out rent collections. The conversation delves into the origins of Pay Ready, highlighting the gaps it addresses in the multifamily industry, particularly in handling the move-out process.

Lynn provides an in-depth look at Pay Ready’s platform, discussing its features like automated outreach, flexible payment plans, and integrations with other systems to ensure seamless ledger reconciliation.

Lynn emphasizes how Pay Ready improves the experience for both property managers and former residents by making the rent collection process more efficient and less confrontational. He introduces innovative payment methods like Apple Pay and Google Pay and explains how the company uses a CRM approach to manage accounts receivable. Lynn underscores the importance of a customer-friendly communication strategy to preserve positive relationships even after residents move out.

The discussion also touches on the culture at Pay Ready, with Lynn sharing insights into building a strong, cohesive team and maintaining a flat organizational structure. He outlines his vision for the future of Pay Ready, including potential expansions and the careful balance of maintaining focus while exploring new product opportunities. 

Lynn’s approach to involving clients actively in the development process ensures that Pay Ready continues to meet the evolving needs of the multifamily industry.

Subscribe to the Multifamily Innovation® Podcast for more industry insights and updates. #multifamilyinnovation #rentcollection #propertymanagement #multifamilytechnology #PayReady

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