Bilt is more than just a reward program for renters.
TRD’s Hannah Kramer sat down with Bilt’s President of Housing Margette Hepfner to learn how the company not only helps property managers attract and retain residents, but also build community.
“Renters are able to earn Bilt points by paying their rent on time,” explains Hepfner, as well as by “shopping at local pharmacies or spending money with local retailers.”
These points can be applied to future rent payments as well as toward air travel or hotel stays. But the real power of Bilt comes from its network of more than 45,000 merchants across the country.
“Any time a resident uses any credit card that’s attached to their Bilt account, they are earning points,” says Hepfner, “and it is rewarding the community in turn.”
The program is a no-brainer for owners. Not only can property managers offer Bilt points as upfront concessions to attract renters, but residents who use Bilt tend to be more reliable.
“We have seen a significant decrease in delinquencies,” says Hepfner. “We’ve also seen a significant decrease in NSFs because of the connection that Bilt has to the bank account for the renter. So if they don’t have the funds in their bank account, we’re able to reach out to them and say, ‘Hey, do you want to find a different way to pay your rent?’”
Watch the first video in our series with Bilt to learn how their rewards program benefits owners, renters, and the communities in which they live.