Points and Cash Back: The Rise of Loyalty Programs in Multifamily

Renter rewards and loyalty programs are one of the few bright spots in multifamily tech today. Late last year, Bilt Rewards raised $200 million at a $3.1 billion valuation, a deal reminiscent of headier times a few years back.

Of course, Bilt isn’t the only player in this space. Rental payment platforms Zego and Domuso offer rewards programs, as does Piñata and cash-back focused Stake. And today, Stake announced its acquisition of delinquency management and collections platform Circa, adding a new wrinkle to a fast-moving category.

Today’s letter will dig into the emerging world of rental rewards and loyalty, exploring:

• The rise of loyalty and rewards programs in hospitality and travel;
• Loyalty, rewards, and payments in multifamily;
• Stake and its acquisition of Circa;
• The role of property management systems;
• What this all means for the future of banking.