MRI Software Expands Partnership with YapStone’s RentPayment™ to Include Multifamily Payment Functionality

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Following the success of RentPayment’s integration with MRI Tenant Connect for commercial properties, MRI Software has chosen to integrate RentPayment with MRI Resident Connect for multifamily properties.

By working with us on payments, MRI is able to focus on creating a best-of-breed resident portal experience, while ensuring customers receive the most secure, most innovative payment solution in the market. - Tom Villante, Chairman at Yapstone

After experiencing the additional functionality and ease-of-use of RentPayment’s MRI Tenant Connect integration, MRI Software is pleased to announce an expanded business relationship with RentPayment to include MRI Resident Connect for multifamily. Clients utilizing MRI’s multifamily portal solution will now enjoy several added benefits as a result of this enhancement:

•Reduced operating costs / process automation – MRI Resident Connect automates the rent collection process so clients can focus on more important activities instead of the time-consuming and labor-intensive process of collecting manual rent payments.

•Improved fund availability – Electronic credit and debit card payments through the portal make funds available almost immediately, rather than the traditional five to seven days it can take to receive a paper check in the mail, manually post the transaction to the general ledger, and deposit the check at the bank.

•Increased resident satisfaction / reduced delinquencies – Online rent payments are available 24/7 via the portal, offering greater flexibility and effectively extending normal office hours. In addition, offering the option of card payments can help reduce delinquencies because residents can better budget their expenses according to their monthly income, and also have the option to “set it and forget it” with recurring payments.

“With all the positive experiences we’ve had with Tenant Connect, it was the obvious choice to integrate RentPayment’s functionality into our residential portal as well,” explained David Post, CEO of MRI Software. “We are excited to offer our multifamily clients all the payment functionality and convenience that our commercial customers currently enjoy through our MRI Resident Connect solution.”

“We are thrilled to expand our successful partnership with MRI,” said Tom Villante, Chairman at YapStone. “By working with us on payments, MRI is able to focus on creating a best-of-breed resident portal experience, while ensuring customers receive the most secure, most innovative payment solution in the market. We look forward to continuing to grow our relationship with MRI and its customers.”

To learn more about how MRI’s Resident Connect can increase efficiencies through real-time account management and the capabilities enabled through RentPayment’s online payment engine, visit http://www.mrisoftware.com/resident-connect.

About MRI Software
MRI offers property management software solutions to the global real estate management and investment industries. As a leading provider of real estate enterprise software applications and hosted solutions, MRI serves the global multifamily and commercial property industries, helping them improve their bottom line and maximize their returns on their diverse business portfolios. MRI leverages its more than 40 years in business to develop long-term successful relationships with its clients. For more information, please visit http://www.mrisoftware.com.

About RentPayment
RentPayment is a division of YapStone, the leading global provider of web and mobile payment solutions and processing for targeted vertical markets such as property management (rentpayment.com), vacation rentals (vacationrentpayment.com), homeowner associations (duespayment.com), bed and breakfasts (innpayment.com), and non-profit (parishpay.com) as well as several new bill payment markets. Established in 1999, YapStone's payment service processes billions of dollars annually, with an on-demand platform that offers web-based and mobile payment processing and integration to its clients’ accounting systems and websites. YapStone's technology includes a unified, real-time reporting platform, credit/debit card, electronic check processing, check conversion and cash payments. YapStone has been recognized in Inc. 5000 Fastest Growing Private Companies for the last 5 years, and was recently named to Forbes’ 100 List of America’s Most Promising Companies. In 2011, Accel Partners and Meritech Capital Partners made a $50 million minority investment in YapStone.

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April Haviland
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