Bilt Points Replace Months Free

This turns leasing concessions from a blunt rent cut into a targeted loyalty spend. A month free reduces collected rent for every tenant who gets it. Bilt points let a landlord deliver something residents perceive as high value, travel and dining rewards, while the property often funds less than the face value of waived rent. Because the offer sits inside the resident payment flow, it also works as a retention tool, not just a move in discount.

• In practice, the landlord can attach points to a new lease, an early renewal decision, or a renewal signed through Bilt. Residents see the offer in the Bilt app or payment center, accept it there, and receive the reward when the lease starts or renews. That makes the incentive measurable and easy to automate inside Yardi, RealPage, and similar systems.
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• The cost math is what matters. In lease up markets, one month free is common and nearly three in four lease up units are offering at least one month free. Bilt says owners can cut leasing incentive cost by up to 20% when residents choose points instead of a traditional concession, while still accelerating decisions by about four weeks.
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• This is also why Bilt looks more like a loyalty network than a payment button. Property managers already pay Bilt 0.6% to 0.9% on rent volume through embedded payments, and they can layer on renewal and resident loyalty fees. That gives Bilt a second budget line, leasing and retention, beyond plain payment processing.
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The next step is a full housing CRM loop where rent payment, lease offers, renewal timing, and neighborhood rewards all sit in one system. If that becomes standard, landlords will shift more concession dollars out of free rent and into programmable rewards, and Bilt will own a larger share of the operating workflow around resident retention.