New Online Website Helps Renters Manage Rent Payment, Credit, Roommate Relationships

CHICAGO, March 8 /PRNewswire/ -- WilliamPaid, an online resource for renters and roommates, launched today bringing relief to the 102 million Americans who live in apartments, condominiums, and other rental units. The comprehensive new website for renters and roommates provides tools for making rent payments, managing roommate relationships, building personal credit without going into debt, and ensuring long term financial security.

(Logo:  http://www.newscom.com/cgi-bin/prnh/20100308/CG66354LOGO)

WilliamPaid's new website (www.williampaid.com) offers an easy, accountable way for renters to:

• Pay rent online with multiple, flexible options
• Manage rent payment collections among roommates
• Build credit while paying rent by reporting monthly rent payments to a credit bureau to build creditworthiness
• Track credit scores with credit reports and credit score monitoring
• Earn cash back for referring friends or shopping for household goods online
• Use cash back to pay off student loans and receive 10% matching contribution from WilliamPaid
• Use proactive and reactive roommate tools such as shared bill management, message boards, customizable roommate lists, and interactive roommate agreements

"With WilliamPaid, powerful renter and roommate tools are just a click away," said WilliamPaid CEO Evan Silverman. "For many, rent is a sensitive topic due to financial issues and roommate disagreements. WilliamPaid complements existing social media platforms to offer a hyperpersonal roommate relationship experience. We provide flexible payment options to relieve financial strain as well as a medium for roommates to communicate about and monitor rent payments without face-to-face conflicts or 'text message stress.' In the end, it is a win-win for everyone - landlords get paid on time, and roommates avoid needless drama."

According to the National Multi-Housing Council, nearly one-third of Americans rent their housing. The 2010 WilliamPaid Renter and Roommates Research Survey revealed that rent equals 20% or more of income for 70% of all renters. WilliamPaid's survey also found that 90% of those renters would prefer to pay their rent online. Ninety-six percent of survey responding renters expressed concern about their creditworthiness, yet only 16% knew their credit score. Flexible rent payment options and credit building options for renters are increasingly important.

Matthew Vitko, SVP of Sales for PRBC, Inc., a division of MicroBilt Corporation, agrees. "Traditionally, apartment renting comes with a disadvantage," he said. "Unlike mortgage payments, timely rent payments do not improve your credit rating. WilliamPaid helps renters build a positive payment history by providing them with the option to report monthly rent payments to a nationally-recognized credit bureau. If you are currently an apartment renter and you want to establish a positive payment history, WilliamPaid is a good option."

While WilliamPaid serves renters and roommates, the website also eliminates roadblocks for apartment owners and landlords in today's tough rental market.

"Technology and social media have changed the way apartment owners and tenants communicate and interact. Apartment management leaders increasingly tap into advertising and marketing on the Internet because a majority of tenant prospects use the Internet to search for rental housing and manage rent payments," said Eric Jones, President of Urban Real Estate Services and current member of the Apartment Owners Association. Jones, a former Vice President of Irvine Company, a land and apartment development company with a portfolio of 115 apartment communities located throughout California, adds: "An online resource like WilliamPaid offers tenants a variety of choices including online options for paying rent, rent splitting with roommates and the option to pay rent with a credit card. As a landlord, I can appreciate tenants using a website like WilliamPaid to pay rent, because it ensures that rent payments are made on time!"

For more information about WilliamPaid or to schedule an interview with a member of WilliamPaid's executive team, contact Kirsten Osolind, RE:INVENTION, 312.635.1350 ext 711.

Renters and roommates are invited to visit WilliamPaid's BLOG, YouTube Channel, Twitter Page, and Facebook Fan Page for more tips and resources.

About WilliamPaid

WilliamPaid is an online resource for renters and roommates, providing flexible rent payment options, including paying rent with a credit or debit card, credit building services such as having rent payments and past rent and utility payments reported to a credit bureau, shared bill management, allocation and tracking and other roommate tools that help renters and roommates communicate. WilliamPaid is headquartered in Northbrook, Illinois. Learn more: www.williampaid.com.

SOURCE WilliamPaid