Lovely wants to try and modernize the way landlords look at getting paid
Many aspects of apartment rental in San Francisco still require a paper-heavy approach to the whole process, but the apartment-finding app Lovely is doing what it can to change the status quo. It gives you notifications when properties you want are available, allows you to submit digital applications, but now the company may have added its best feature yet. You can pay your rent through one of their apps, and even setup recurring payments to make the whole thing effortless.
To set it up, all you need is your landlord’s email, your address, and your bank account information. Once a payment is sent, your landlord will receive an email to let them know, at which point they can set up their own account, add their bank information, and transfer the payment over.
The process sounds simple enough, and it is, but the real challenge with be to change the way people have done things for as long as they can remember. In a digital world, it makes perfect sense that you should be able to pay your rent sing your cell phone, but that point has yet to come. Hopefully Lovely can show people how much easier life is when you don’t have to write out an extremely expensive check every month.
As pointed out by TheVerge, Lovely purchased Rentmatic.com last year, a company that has processed more than $60 million in rent payments since it opened for business in 2006. This track-record should give the apartment-finding app enough clout to convince landlords and tenants alike that electronic payments are a good idea.