News

Atlanta, GA – March 6, 2026 – As payment flexibility becomes a growing expectation among renters, the multifamily industry is taking a closer look at “Rent Now, Pay Later” (RNPL) — a model that allows residents to split monthly rent into two installments while properties continue to receive payment on time. In a recent ConnectCRE article, “Lease Today, Pay Tomorrow: The Truth About ‘Rent Now, Pay Later,’” Patti Higgins, Senior Vice President of Parktown Living, shared her firsthand experience with the platform and its implications for operators and residents alike.

How RNPL Works

Similar to its retail counterpart — Buy Now, Pay Later — RNPL allows renters to enroll through a third-party platform, which underwrites their eligibility and advances full rent to the property on the first of the month. The resident then makes two payments to the provider: one at the start of the month, and a second payment two weeks later. Parktown Living has allowed residents to use a RNPL since the company’s formation in 2023. Residents must be current on rent to qualify, and enrollment is straightforward for both residents and onsite staff.

Benefits for Residents and Operators

For residents, RNPL offers a practical solution to a common timing problem: monthly rent comes due on a fixed date, but paychecks often arrive on a biweekly schedule. The model helps renters avoid late fees, maintain positive rental histories, and reduce the financial stress of large lump-sum payments. Automatic payment processing further reduces the risk of missed deadlines.

For multifamily owners and operators, the primary advantage is predictability. Rent is received on time and in full, supporting mortgage obligations and consistent cash flow. Fewer delinquencies also mean less time spent on collections, notices, and payment-plan negotiations, a meaningful reduction in administrative burden for onsite teams.

Considerations and Risks

RNPL does come with considerations worth noting. While fees are generally modest, they accumulate over time. There is also a risk that residents could use the tool to stretch into housing beyond their financial means, potentially increasing default rates, a concern raised by other industry voices in the piece. As Higgins acknowledged, RNPL does not change underlying affordability fundamentals, and operators should be careful not to equate consistent collections with improved resident financial health.

Looking Ahead

The entry of established fintech players like Affirm is drawing broader attention to the RNPL space. Higgins noted that this development signals RNPL is evolving from a niche offering into a more normalized payment option, one that could eventually integrate with major property management platforms.

Read the full article in ConnectCRE: “Lease Today, Pay Tomorrow: The Truth About ‘Rent Now, Pay Later.’”

About Parktown Living

Parktown Living is a multifamily property management company built on an ownership mindset. Founded by the principals of Investors Management Group (IMG), the firm was created to address the misaligned incentives common in traditional property management models. Parktown Living combines hands-on execution with institutional standards to deliver strong resident experiences, transparent reporting, and consistent performance for owners. The company manages communities across Texas, Georgia, and the Carolinas, with a focus on protecting asset value and driving long-term results. Learn more