Revamping Rent Payments in Birmingham: A New Solution for Tenants and Landlords
If you’re living in Birmingham, it’s likely you’ve noticed how our daily lives are evolving thanks to technology. But one area that seems to be lagging behind is the rental payment process. Thankfully, two local founders are diving in to change that! With so many people using mobile payment apps like Cash App and Venmo, the traditional methods like checks and money orders are feeling a bit outdated. And let’s be real – aren’t we all a tad tired of running to the mailbox each month?
Outdated Payment Systems Frustrate Everyone
Taylor Peake, a rental property owner, experienced firsthand how inconvenient the current systems can be. Many tenants still rely on checks or direct deposits, while a growing number prefer the ease of mobile options. According to a report from the FDIC, over 60.8% of unbanked households and 24.5% of banked households have turned to these apps for their essential payments. But here’s the kicker: property management software often doesn’t support these payment methods, leaving us all spinning our wheels to figure out what’s next. Talk about a hassle!
The Pandemic Amplified the Problems
The situation got even trickier during the pandemic. Peake explains, “With the postal service delays, physical mail, including money orders, were sometimes taking months to arrive. I reached out to friends in the real estate field to learn how they coped with these payment challenges.” What she found was not encouraging. Many landlords are stuck managing piles of physical mail, and others are redirecting tenants to open credit-based accounts just to pay their rent. Frustrating, isn’t it?
Enter Occupi: A Modern Solution
Recognizing the need for a fresh approach, Peake teamed up with her co-founder, Emily Hart, to launch Occupi, a Birmingham-based platform designed to simplify rental payments. Occupi integrates popular payment options—think Cash App and Venmo—into one user-friendly platform where tenants can easily submit their rent. It doesn’t just stop at payment collection; landlords can also advertise available properties and vet tenant applications directly through the app!
A Dynamic Duo with Big Goals
Before launching Occupi, Peake was a co-founder of a software development agency and Hart had carved her niche in marketing and product strategy. Their backgrounds complement each other beautifully. Hart reminisces, “We’re such opposites that the partnership blossomed. I focus on the operational details, while Taylor’s vision spans the big picture.” And their partnership has been rock-solid for a decade, with plans for even more growth ahead!
The Birmingham Fintech Scene
Occupi isn’t alone; Birmingham is becoming a hotspot for fintech innovators, with several startups like Quantalytix and KrillPay making waves in the industry. Peake shares her enthusiasm, stating, “Building an early-stage fintech in Birmingham has been better than we could have expected.” Local supporters—from advisors to investors—have rallied around their vision, and things are already falling into place.
Success on the Horizon
The excitement is growing as Occupi closes in on its seed funding round to bring on top talent in tech, regulation, and finance. With backing from local investors, including Innovate Alabama, our dynamic duo is on a mission to build a strong team dedicated to transforming the rental space.
Overall, it seems that Occupi is paving the way for a future where renting becomes simpler and more accessible for everyone involved. As Peake puts it, “We are excited to connect with other industry leaders and expand Occupi’s reach.” So, if you’re a tenant or landlord feeling bogged down by outdated payment systems, keep an eye on Birmingham’s very own Occupi—exciting times are definitely ahead!
