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A new app for renters to earn rewards for paying rent has launched for both iOS and Android. Called Piñata, the app can serve as a loyalty program for property managers, encouraging tenants to pay in full and on time each month, as well as incentivize renewals and referrals.
Rewards accumulate as payments are made, and can be used in conjunction with a number of affiliated retailers and service providers.
Over time, earned rewards can translate into rental assistance when tenants’ financial situations fluctuate, according to a company press release. The app also providers users with a local guide for rental assistance and community resources.
Landlords, in turn, use Piñata’s dashboard to track tenant activity according to each property the app is affiliated with. Custom rewards can be created, too, allowing owners to offer rent discounts, free parking or fee reductions, for example.
Tenants do not need their property manager to participate to benefit from the app, but they will have to input rent amounts and due dates, and report each time a monthly payment is made. Other app features shared in the release include:
- Piñata Cash: rewards redeemable for gift cards or cash, paid to renters every time they pay rent in full and on time.
- Piñata Perks: a marketplace featuring over 300,000 deals and special offers from local businesses and 250-plus national brands, all designed to reduce renters’ financial stress and make life more affordable.
- Welcome Gift: a welcome gift when renters join, including $30 to spend at local businesses.
The company has also worked with its partner landlords throughout the pandemic to reward nominated, in-need tenants with monthly rent coverage. The release stated that the program will continue “for as long as the pandemic impacts American renters.”
Additionally, the Piñata Cares campaign provides a meal to those in need for every user who pays rent in full each month.
The app is free for tenants to use. The company states that use of its app and its ongoing partner discounts can provide up to $4,500 in annual dollar value. The company has established relationships with brands like Dell, CVS, Sprint, xFinity, Jiffy Lube, Costco and Microsoft.
Have a technology product you would like to discuss? Email Craig Rowe
Craig C. Rowe started in commercial real estate at the dawn of the dot-com boom, helping an array of commercial real estate companies fortify their online presence and analyze internal software decisions. He now helps agents with technology decisions and marketing through reviewing software and tech for Inman.
