Payments and rewards platform Bilt has boosted its capabilities with the launch of Resident Loyalty 2.0. Adopted by 70% of the nation’s top property managers, property managers can run their existing concessions and incentives through the platform to produce faster lease decisions, higher renter satisfaction, and cost savings of up to 20%.

David Wyler, chief business officer of Bilt Rewards, says, "With this iteration of our platform, property managers can keep their current workflows and budgets while benefiting from significantly improved results through Bilt's comprehensive rewards ecosystem."

The rewards ecosystem includes both high-value Bilt Points and integrated neighborhood benefits. When offered, property managers can choose between traditional cash-based incentives or rewards that connect them to everyday experiences—from dining and accessing premium fitness classes to booking travel with major airlines and hotels. The rewards option gives residents a higher value via Bilt's partnerships with rewards providers, which allows properties to spend less. These improvements offer cost savings from 5% to 20%.

The results from existing leasing incentives can also increase renewals rates by 20%, three times earlier rent payments, and referral volume by 10%, Bilt reports. Most important, the streamlined resident engagement can be a loyalty driver for property managers who offer Bilt’s integrated ecosystem.

Instead of juggling multiple vendor relationships and having to build direct partnerships with each local merchant, property managers can instantly create and automate personalized packages for resident rewards (for move-in, welcome packages, and more) across 23,000-plus local restaurants for dining experiences, 6,000-plus premium fitness studios, Lyft rides, major airlines and hotels, and neighborhood retail and services.

The enhanced platform offers an analytics suite with portfoliowide insights to enable data-driven decisions about resident engagement strategies and reward optimization.

"Bilt is becoming a central factor in our resident engagement strategy," says Thomas Sloan, president of Windsor Communities. "Their revitalized platform allows us to strengthen resident relationships through personalized rewards while creating a new revenue stream. It's a win-win that both enhances the resident experience and improves our bottom line."

Additionally, residents can earn rewards on rent payments while building credit and use rewards for future rent payments or a home down payment through Bilt.