Rent in the name of savings

You have undoubtedly heard of maximizing your mortgage payment by paying 1/2 of your payment every two weeks in lieu of once a month. The fact is you would pay one full payment more in the year than if you paid the traditional way.

Well with that in mind what if we as owner/managers partnered with a local community bank and promoted; All in the Name of Savings.

The promo would encourage people to pay 1/2 of their rent every two weeks thus creating a surplus that we would match $1 for $1 up to $200 or whatever we deem. And, if they renew with us what if we deposit their concessions dollars in their savings account in lieu of giving them rent credits.

With electronic payments becoming more mainstream, it could catch on.

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