BROKERAGE, INVESTMENTS
Avalara | February 24, 2023
On February 23, 2023, Avalara, a software development company dedicated to the real estate sector, announced the launch of its new digital business solution, Avalara Property Tax, for real and personal property tax management, enhancing tax compliance with cloud-based automation.
This solution would assist accounting and businesses professional in managing their complete property tax portfolio and compliance activities. In addition, it supports their activities like preparation of business personal property renditions, procession and handling of tax bills, assessments, and appeals.
There is a necessity for a more flexible and customizable solution for businesses, especially with in-house property tax compliance. Its solution helps the huge workloads with the SaaS facility of a secured central hub for property tax compliance operations over real and personal property. It facilitates the tax data like tax bills and assessments in the mail platform from various jurisdictions. It scans documents in a single secured platform with accuracy and automation to the selected account. In addition, it offers due date tracking, a feature created to avoid late payment penalties as it is difficult to assimilate due dates, discount opportunities, terms, and conditions separately.
EVP and GM of Indirect Tax, Avalara, Jayme Fishman, said, “Today, property tax is one of the most challenging business compliance activities. This challenge is due to the complexity of preparing personal property returns and the downstream implications of assessments and tax bills for real and personal property. Further complications arise from many jurisdictions having different due dates and terms, varying state depreciation schedules, and getting data out of client systems to feed into the process.” He added, “Our new property tax software solution follows our core mission of making taxes less taxing by offering businesses and accountants a more effective way to manage their property tax compliance and reduce errors while saving valuable time and money.”
(Source – Business Wire)
About Avalara
Headquartered in Seattle, Washington, Avalara, a cloud-based tax compliance solutions provider for businesses, offers sales tax automation and compliance services, tax return filing services, e-commerce integrations and exemption certificate management. Founded in 2004, it gives robust cloud-based solutions for tax compliance automation with efficiency and accuracy in real-time scenarios across the United States and worldwide. It delivers services for over 30,000 customers, and about 1,400 signed partner integrations for EPR, accounts, e-commerce, POS, CRM systems, and recurring bills of business applications. In addition, it supports tax transactions like sales, usability, excise, communication, lodging, VAT, GST, and indirect taxes.
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REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
MAXX Properties | March 02, 2023
On March 01, 2023, a leading real estate organization, MAXX Properties, plans to implement software to manage all post-resident accounts receivable by Pay Ready, a multifamily premier post-resident payment system.
Chief Operating Officer of MAXX Properties, Genevieve Bauer, joined the organization last August and focused on maximizing the cash flow and value. With more than 9,300 units and a growing inventory, Gen was aware that technology was the key to maximizing yield. With her years of expertise in strategic property management operations, she thought back to the times she had worked with Pay Ready as a supplier.
Pay Ready's platform redefines the post-resident recovery process of MAXX Properties. The platform integrates with the property management software and controls the move-out process. Its automated messaging is augmented with human interactions and follow-up. Within the CRM, the onsite teams now have a centralized repository for their notes, which can be tracked and reported in real-time. With this platform, the owners and operators can have a robust solution and customized and empathetic brand communication for residents from the start, along with a simplified payment process and final payment arrangements.
Chief Operating Officer at MAXX Properties, Genevieve Bauer, said, "Making the decision to switch to Pay Ready was simple. MAXX Properties needed to centralize its post resident recovery efforts and have true insight into the data. Pay Ready's platform provides advanced technology along with real-time data and key metrics to give our operations' team the ability to make informed data-driven decisions, moving our business forward while maximizing our post resident recovery receivables."
(Source – Business Wire)
About MAXX Properties
Based in Harrison, New York, MAXX Properties is a privately held company comprising commercial, multifamily, and cooperatives. It was established in 1936 under the fourth generation of Wiener family leadership. Its portfolio consists of 39 communities containing 9,351 owned multifamily units in six states, 992 sponsor units and 32 managed cooperative units in New York. In addition, the company offers a wide range of training and educational courses specifically designed to equip teammates with the skills needed to deliver exceptional service to residents.
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REAL ESTATE INVESTMENT, MORTGAGE AND LENDING
Roc360 | March 16, 2023
Roc Capital Holdings LLC (Roc360), a financial services platform for residential real estate investors, recently announced its completion of the previously announced acquisition of Finance of America Commercial (FACo) assets. Under the transaction terms, Roc360 acquired the operational assets of FACo, a Finance of America Companies Inc. division specializing in residential real estate investment loans.
Roc360 will give the brand a unique logo and execute it under a new subsidiary using its current name, Finance of America Commercial. It will join Roc360's growing collection of leading real estate’s brands, such as Haus Lending, Roc Capital, Elmsure Insurance, Wimba Title, and Tamarisk Appraisals. The FACo acquisition enhances Roc360's existing origination footprint in its retail and wholesale channels, and the acquired data will contribute to Roc360's data science initiatives. In 2022, the two companies collectively financed over $4.6 billion in loans for business purposes.
FACo traces its origins back over a decade to its forerunners, B2R Finance, Dwell Finance, and Jordan Capital Finance, innovators in the national private lending sector that provided fix-and-flip and landlord DSCR loans to real estate investors. It has funded over $6 billion to 9,000+ individual guarantors across 25,000+ closed loans via its broker channels and borrower-direct.
Arvind Raghunathan, Founder and Chief Executive Officer of Roc360, said, "Roc360 is committed to delivering innovative products and services that help rejuvenate and deliver new and like-new energy efficient homes to America's undersupplied housing stock." He also said, "The acquisition further broadens our reach and ability to make a difference. We will continue to pursue growth opportunities, including acquisitions, that expand our ability to provide solutions to real estate investors."
(Source – Cision PR Newswire)
About Roc360
Roc360 is a vertically integrated platform for residential real estate investors and one of the leading creators of business-purpose loans nationally. The company was established in 2014, employs more than 300 people and funded more than $14 billion in loans through its lending subsidiaries. It is based in New York City with offices across three continents. In addition, Roc360 joined the Deloitte Technology Fast 500, a ranking of the 500 North American companies with the fastest-growing media, technology, telecommunications, fintech, life sciences, and energy tech industries in 2022.
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