Wilmington, Del., October 26, 2023— Best Egg, a leading fintech that drives financial confidence, today announced a strategic partnership with Zego™, a leading property management automation platform, to provide renters with flexible payment solutions. Through this partnership, Best Egg Flexible Rent will be available to more than 12 million residential units whose monthly rent payments are processed through Zego.
Best Egg Flexible Rent allows qualified renters to break up their rent into smaller payments aligned with their cash flow, giving them the flexibility to pay rent on their own unique schedules and the opportunity to build their credit. For a small fee to the renter, Best Egg Flexible Rent facilitates the payment of the full rent amount to the property manager, offering renters the flexibility to pay their rent in installments throughout the month. The tool helps renters establish a record of on-time payments which in turn helps them build credit.
The partnership between Best Egg Flexible Rent and Zego helps property managers provide flexibility and support to their renters, ultimately boosting retention and reducing the costs associated with delinquency, eviction, and turnover. Flexible Rent enhances both the renter and property manager experience. At no additional cost to property managers, Flexible Rent guarantees on-time payments and reduces bad debt costs.
Through this partnership, Best Egg Flexible Rent will be seamlessly integrated into Zego Pay and resident portals that use Zego, offering residents a flexible rent payment option without leaving the Zego Pay app or their resident portal. Best Egg Flexible Rent launches this month with select Zego users.
“Our partners at Zego are committed to offering both property managers and renters streamlined solutions for facilitating rent payments, which is often the largest monthly expense for the more than 48 million renters in the U.S.,” said David Sullivan, General Manager of Flexible Rent at Best Egg. “Best Egg Flexible Rent will improve financial confidence among renters and help Zego’s property manager customers attract, retain, and support renters.”
“Zego is committed to providing solutions that maximize efficiency and profitability for operators while delivering the ultimate resident experience,” said Mark Peters, President and General Manager of Zego. “We’re excited to announce this partnership with Best Egg, as the company’s Flexible Rent offering will enable property managers and operators to continue receiving on-time and in-full rent payments while empowering residents to pay in installments that best align with their personal cash flow.”
“Best Egg Flexible Rent is a mutually beneficial solution that supports both renters and property managers in managing financial responsibilities,” said Brady Nolan, Chief Business Officer of Flexible Rent at Best Egg. “We look forward to working with Zego to offer renter-centric payment solutions to property managers across the U.S.”
Best Egg Flexible Rent is now available to nearly 10 million renters in the U.S., which is approximately 20 percent of the national renter market. For more information about Best Egg Flexible Rent, please visit www.bestegg.com/flexible-rent.
About Best Egg
Best Egg is the leading financial confidence platform that provides flexible solutions to help people with limited savings confidently navigate their everyday financial lives. Best Egg supports customers through a growing suite of personal loans, credit cards, flexible rent, and financial health tools. Leveraging real-time customer insights and data engineering, Best Egg gives more people access to the resources they need to be money confident. For more information, visit www.bestegg.com.
Zego (a Global Payments company) is a property management automation company that simplifies cumbersome yet critical workflows for managers and associations. Our mobile-first platform mitigates risk and accelerates NOI growth by helping clients scale resources, build trust, and make data-backed decisions. From payments and utility management to resident communications, all workflows seamlessly integrate into back-end systems, ensuring users have real-time and accurate information at their fingertips. Learn more about what makes Zego one of the best workflow automation platforms for property management at gozego.com.
Lisa Albiston, Sr. Director, PR
Libby Burgoyne, Account Executive