Financial Technology Benefits Our Boards and Owners

By Harris Bornstein, Chief Financial Officer, Douglas Elliman Property Management Harris Bornstein

It’s a very exciting time to be involved in Financial Technology here at Douglas Elliman Property Management. We deliver a variety of online services to our residents, Board Members and property vendors to make their financial transactions easier, faster and more secure than ever. These technology improvements have also reduced waste, by moving from paper to digital delivery.

We are well on our way to transitioning all of our 45,000 apartment residents from mailed invoices and check payments to online billing and e-payments. This digital system eliminates the processing, printing and mailing of monthly bills and also allows residents to pay their monthly fees instantly from anywhere, with no mailing fees, at any time of the day. As a result of these measures, we have reduced the waste stream by over 20,000 pieces of paper per building per year.

In addition, board members and owners can view financial statements and activity online anytime, anywhere, from their own computers. This offers the benefit of optimizing cash flow by being able to see income and expenses in real time. When it comes to approving and authorizing payments on building invoices, board members can do it all by using our online portal with redundant levels of authorizations and security. We maintain bank protocol systems to ensure that your property’s financial data will always remain secure.

Our suite of online financial systems offers an increased level of control and transparency to our residents and boards, while helping them save time, reduce waste and avoid costs. Instant digital information sharing allows board members to securely review financial information on their own schedule, while residents have more flexible options for payments and account maintenance.

Web Updates Provide More Info for Users

In our continuing efforts to provide helpful and user-friendly online information through our website EllimanPM.com, we have added some new features to improve your experience. Our new Properties section lists all 350 properties in our management portfolio, featuring photos and links to complete background and contact information to each one of them. Just click on the building and you will be taken to an information page with names, phone numbers and email addresses of everyone who works with that property.

We also have a new Mortgage service association with Citizens Bank, which streamlines the process for mortgage applications, and also offers an application discount. Click the DE Mortgage link at the bottom of any page of our website for more information.

In addition, we have updated our Pay Online portal, and encourage all residents to sign up for online payments and e-billing. As an extra incentive to choose this easy payment option, everyone who is signed up for online pay and e-billing will be entered into a drawing to win a $100 gift card, as our New Year’s Thanks.

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Our new PROPERTIES page provides complete description, contact info and application forms for all the buildings in our portfolio.

Receive—and Pay—Your Monthly Bill Online

Join our DEPM ‘going green’ movement: sign up to receive your monthly statement via email, and pay electronically. To sign up for our e-bill service, email us at ebill@ellimanpm.com and include your full name, your eight-digit account number as it appears on your monthly statement, and your email address. You will receive an email
confirmation once your account has been updated.
To pay online, just go to ellimanpm.com and click on the Make Payments link, which will take you to our partner, RentPayment.com, the largest payment processor in the real estate industry. Once you have set up your account, you can log in with your own
user name and password, and choose your payment options. Use the “e-check” option to make your payment directly from your bank account free of charge. Or
pay by credit or debit card, using Visa, MasterCard or Discover for a 2.5% service
charge. Either way, you can pay monthly or set up automatic payments. You can
even set up payment reminders to be sent to you by email or text message. You
can view your open balance right from the website any time you want. For more
information visit the RentPayment FAQ section located on the top menu of our
website at bit.ly/19WAt.

Join the "green" revolution, and reduce your paperwork: pay your monthly bills online, and receive your bills via email.

Join the “green” revolution, and reduce your paperwork: pay your monthly bills online, and receive your bills via email.