8C — July 23 - August 19, 2021 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
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O wners , D evelopers & M anagers New rewards program allows residents to earn points on rent Morgan Properties partners with Kairos to introduce Bilt Rewards
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participating Morgan Proper- ties communities will have the opportunity to join the free program and earn points through monthly rent pay- ments and rent-related ac- tivities such as signing a lease or referring a new resident. Points can be redeemed as credit towards rent or a fu - ture down payment through Fannie Mae and the Federal Housing Administration Through its program, Bilt Re- wards points can be redeemed for travel across over 100 major airlines and hotels via 1:1 trans - fer partnerships with American Airlines AAdvantage, Emirates
Skywards, KLM-Air France FlyingBlue, World of Hyatt loy - alty program and more; fitness classes including SoulCycle, Rumble and Y7; limited-edition and exclusive collections of art and home decor through the Bilt Collection, and can even be used for rent credits or towards a fu - ture down payment on a home. “At Morgan Properties, we are always looking for unique and innovative ideas and tech- nology to provide our residents with the best and most conve- nient experience possible,” said Amy Weissberger , senior vice president of Corporate Strat - egy for Morgan Properties. “By
partnering with Bilt Rewards, our residents not only get to “Experience More withMorgan’' and enjoy living in our great communities, but can also earn rewards for it as well. We look forward to officially rolling out the Bilt Rewards program to select communities this fall.” In tandem with the launch of Bilt Rewards, Bilt has also partnered with Mastercard to develop a first-of-its-kind co- brand credit card that not only enables renters to pay rent and earn points with no fees, but also meets the digital needs and expectations of today's consumers. Renters who enroll
in Bilt Rewards and pay with their Bilt Mastercard can pay rent at any apartment or rental unit in the U.S with no fee, and can earn up to 2x points on rent and 1x points for every non-rent purchase. The Bilt Mastercard will be issued by Evolve Bank & Trust. Morgan Properties’ residents will be among the first to re - ceive an invitation to apply for the Bilt Mastercard. Bilt senior loyalty advisor and founder and CEO of The Points Guy, Brian Kelly , said, "Bilt Rewards is the most in- novative loyalty program to launch in a generation. Just by paying rent, you can now earn points to travel the world, or even buy a home." To ensure renters aren't using up their credit line or risking debt to finance rent, Bilt and Mastercard developed BiltProtect. When enabled, Bilt Mastercard will function similar to a debit card for rent transactions, directly pulling funds from a linked bank ac - count with each rent charge. This keeps credit lines open for other purchases, while still enabling cardholders to earn points on every rent payment. For buildings that do not accept credit card payments, cardholders can still pay their rent with their Bilt Master- card through the Bilt App, and a check will be sent to land- lords on the cardholder's be- half. Further, rent payments made through Bilt Mastercard will automatically be reported to credit bureaus, enabling residents to build their credit score with each on-time rent payment. MAREJ Service providers under- standing what a SOC report is can be critical to the continued relationship with existing customers, as well as locking in contracts with prospective customers. With the help of the right independent ac- counting firm that specializes in SOC reporting, companies that service the real estate industry can be in a position of strength compared to their competitors in this aspect of assurance to their customers. Thomas Mi l ler , CPA, CITP, CISA ismanager, SOC Services at Withum. MAREJ continued from page 2C Understanding SOC examinations and their . . .
ING OF PRUSSIA, PA — Morgan Prop- erties , one of the na -
tion's larg- est private multifamily owners, an- noun c ed a partnership with Kairos to launch Bilt Rewards, the first and only
Amy Weissberger
rewards program that allows residents to earn points on rent. Morgan Properties will introduce the program at select properties this fall. Once available, residents at
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