This not only broadens awareness of Bitcoin to a wider audience (each of the 100 properties will see "bitcoin" on the website's menu), it also works as an endorsement giving Bicoin needed credibility. Hey -- if my landlord accepts bitcoin is must be legit! And, of course, a tenant that receives bitcoin (e.g. from an online store, or mining, etc,) now has a place to spend those without having to convert them into fiat.
This has been a real problem for me when I'm trying to "sell" bitcoin to local merchants here in Las Vegas. The question ALWAYS comes up as to what they can do with the Bitcoins and stuff like "Well, it seems like a cool idea, but Bitcoin's don't pay the rent and utilities". Now, I have a response for them. This is going to make selling Bitcoin to merchants infinity more easy.
Is that custom software for that company, or is that a vertical that is sold to other property management companies?
Also, out of curiosity some questions. Assuming the lease is in terms of USDs, then the amount of rent is calculated based on the current market exchange rate when it is paid, or the market's "open" price on the first of the month, or ?? And does the landlord include a fee (to offset the exchange fee the property manager has) or perhaps a discount (as bitcoin costs less for the property manager than the debit card payment method). Additionally, does the payment method allow partial payment in bitcoins with the remainder via other methods?
Great questions. As far as I could tell:
The software was created for his wife's property management system - so it's proprietary to his operation. I will ask him if he's considered selling his management system to other property management companies.
I did not see a method to specifically split payments, but I recall it seemed plausible that a tenant could submit two payments. Bitcoin and, say, paypal.
I did not see any option for discounts if paid by Bitcoin. Exchange rate was calculated at time of payment. My friend is long on bitcoin and doesn't expect a lot of tenants to actually use Bitcoin. If someone did, he'd keep the bitcoins (probably to support his poker interest).