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More Contracts Signed with EchoSign!
Based in Los Angeles, California, PayYourRent.com is simplifying the way property managers collect rent for their residential and commercial properties. As nearly 60 million American households are paying their monthly bills online, property managers are now finding it necessary to offer online payments in order to effectively compete in the changing property management industry. PayYourRent.com provides both residential and commercial property managers the ability to efficiently collect rent payments via e-check and credit card, accept rental applications, and manage maintenance requests and utility connections online.
At any given time, PayYourRent.com is sending out 40-50 contracts per month to property managers and owners. Getting these contracts signed was a painful process of either printing and faxing the agreement, or printing and sending the agreement via post. “We found that we had an attrition rate of almost 50% — half of our agreements were not being returned”, said Kevin Eberly, CEO, PayYourRent.com. For any sized business, this is a significant problem, but for a small business it’s crucial to get contracts signed as quickly as possible.
Last year, one of PayYourRent.com partners “EchoSign’d” them an agreement — and that was the “aha” moment. “The signing experience was pretty cool and we thought, we could use this tool for our business,” remarks Kevin. “Our contracts provide a release to collect money on behalf of someone else, so we wanted to make sure that our customers were comfortable reading and signing these contracts electronically.”
At the end of the day, for any business, it’s about getting revenue in the door. With EchoSign, PayYourRent.com has seen their contract attrition rate drop to 25%. “With EchoSign more of our contracts are signed, and they are signed faster,” said Kevin. PayYouRent’s customers find that EchoSign is a convenient way to conduct business with them and their customers easily sign electronically without requesting fax based paper contracts. “All the effort of getting contracts signed is lifted from our shoulders and our contract process is a lot more organized since every document is filed electronically.”
"EchoSign is a great idea, and a great service."
— Kevin Eberly, CEO, PayYourRent.com