Bilt Rewards to reward tenants Paying rent on time also benefits condo and co-op owners, The Post has learned.
The Manhattan-based company, founded by former Tinder executive Uncle Jain, has signed a deal with real estate giant Douglas Elliman to gain exclusive access to the roughly 40,000 condos and co-ops it owns across New York City. Become a payment processor.
Condo owners can now earn points by paying their monthly condo and co-op fees on time.
You will also have access to Bilt Rewards Neighborhood Programs. The Built Rewards Neighborhood program allows New York City tenants to earn points by dining at local hotspots like Carbon, taking popular fitness classes like Y7 Yoga, and redeeming first-class flights. It is a platform where you can redeem for hotel stays. Hotels such as Conrad, which is part of Hilton.
Dan Thatcher, Douglas Elliman’s vice president of enterprise innovation, told the Post that starting the partnership with Bild was an easy decision. “Owners didn’t get paid for it before, but now they do.”
“This opportunity not only rewards residents for paying, but also gives people access to neighborhood perks that Bild offers. Tenants can earn points when they take a Lyft ride to local restaurants. You can get it,” Thatcher said.
“We want people to reap the rewards and benefits of spending time in their neighborhoods, which is why we’ve included restaurants like Delmonico’s and fitness classes at SoulCycle in our Built Neighborhood Rewards program. ” said David Weiler, Bild’s Chief Commercial Officer.
Some New York restaurants like Torrisi, The Grill, and Tucci offer 2x, 3x, or up to 10x points to Bilt members.
Since Douglas Elliman began rolling out Bild throughout its buildings earlier this year, residents have already redeemed nearly 7 million points, the company said.
Bilt partners with airlines such as United Airlines, Emirates, KLM Air France, Hyatt, Marriott and Hilton, allowing tenants to book travel on these airlines directly on Bilt’s website or app.
Residents can also use points toward monthly management fees.
Bilt has a Mastercard that allows customers to pay rent without the typically 3% transaction fee, and users can also earn points by adding their existing credit card to the Bilt app.
Douglas Elliman is one of the largest residential brokerages in the United States, with 10 properties. States such as New York, Florida, California, and Texas.
In the coming months, Bilt plans to expand the number of condos and co-ops it works with, and eventually A company spokesperson said homeowners will have the opportunity to pay their mortgage and earn rewards on the platform.
The company processes $20 billion in transactions annually and was valued at $3.1 billion in its most recent funding round, which raised $200 million.
Earlier this year, Bild, which has partnered with real estate owners including The Related Companies, Brookfield, Cushman & Wakefield and Highmark, announced that former American Express CEO Ken Chenault has been added as Chairman of the Board, and NFL Commissioner Roger Goodell has been added as an independent director.
“On average in the United States, rent and mortgage payments consume 30% of household income,” Chenault said in January. “Bilt is transforming this market by empowering and rewarding renters and homeowners with their monthly payments and daily spend with local merchants.”
