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Mid-America Apartment Communities Inc. Message Board

  • the_real_buffalo_66 the_real_buffalo_66 Dec 29, 2003 12:00 PM Flag

    For Mr. Bolton

    http://www.nytimes.com/2003/12/29/nyregion/29RENT.html?pagewanted=print&position
    =



    As it relates to the NYT article, what are your thoughts on the use of credit cards to potentially limit vacancies & back office costs at some of MAA's higher end properties.

    Also, would automatic bill/rent pay (getting the money in the MAA bank account on the 1st) be worthwhile enough to offset the cc transaction fees??

    We own a home, but I pay for everything I can w/ amex, to get the points...everything from property taxes to the groceries and the phone bill. I think there are many people like me.

    Thanks in advance for your comments

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    • We've been evaluating the practice of allowing residents to charge their rent for a couple of years. We think it is an attractive alternative for some residents and a worthwhile amenity or convenience to offer. Our experience doesn't show the program to be a significant opportunity for vacancy or payment process improvement.

      At this point, all of MAA's properties offer a program for residents whereby they can charge their rent to a credit card (for a convenience fee equal to the credit card compancy transaction fee) if they desire to do so. We accept Master Card and Visa.

      More cost efficient ACH payment programs are currently being evaluated and tested for possible roll-out in 2004.

      Eric Bolton
      Mid-America Apts.

    • Sorry to break the party but IMO Mr. Bolton really should answer a lot less than he has. Don't get yourself in trouble here, Mr. Bolton and have your words bite you later in an unnecessary class action by the Milberg Weiss legal scumbags.

      • 1 Reply to sayhitodan
      • I disagree.
        Eric doesn't field forward-looking questions here. Only general questions and suggestions from us.
        That he is willing to participate shows that he is shareholder-oriented and not so much CYA-oriented.
        That's a good thing that I hope continues.

        //

        The stock was weak today, after a big run-up.
        No doubt someone booking their profits in 2003.
        And, most all of the other apartment REITs were down today, as well, and no news that I could find.

        Anyway, a great 2003. Looking forward to more of the same in 2004, though I think we will do well to hold recent gains.
        I'm happy collecting dividends for awhile and sitting on my gains.
        I mean, where else are you going to put the money that is as safe and tangible? (not to mention the matter of taking the capital gains tax hit)
        Everything else is way up, too, and no alternative that comes to mind pays nearly as much or as safe a dividend.
        Moreover, for those of us who bought in the low-$20s, the dividend represents a double-digit yield, which makes it particularly difficult to replace.

        So, count your blessings, thanks to management, and Happy New Year to all.

 
MAA
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