Douglas Elliman announces strategic investment in Bilt Rewards
Launches tenant rewards program to help residents earn points on rent free of charge
NEW YORK, September 21, 2021 / PRNewswire / – New Valley Ventures, an investment vehicle managed by Douglas Elliman’s parent company, Vector Group (NYSE: VGR), today announced a tenant rewards program through a strategic investment in Bilt Rewards , the first co-branded loyalty and credit card program for tenants. The investment comes as Douglas Elliman officially joins the Bilt Rewards Alliance, a network of over 2 million rental units across the country where tenants can sign up for the loyalty program to earn points on rent free of charge. .
“We are proud to support and align with Bilt Rewards as their program fills a gap in the market to prepare tenants for financial success and encourage a path to homeownership,” says Scott Durkin, CEO of Douglas Elliman.
“New Valley Ventures is committed to investing in innovative, technology-driven solutions for the wider real estate community,” adds Dan Sachar, Managing Director of New Valley Ventures and Vice President of Corporate Innovation for Vector Group.
The round table, which also has Mastercard, Wells Fargo and other large real estate owners including AvalonBay Communities, Equity Residential, GID, Lennar, The Moinian Group, Morgan Properties, Starwood Capital Group and Related Group, as investors , will propel Bilt Rewards to further expand its network of loyalty partners, develop its organic distribution channels and open up the Bilt Rewards and Bilt Mastercard platform more widely to the public.
Launched in June by Kairos HQ, Bilt Rewards is the world’s first co-branded tenant loyalty and credit card program, allowing the nation’s 109 million tenants to finally earn points on their biggest monthly spend at no cost. . By offering the Bilt Rewards program to tenants across Douglas Elliman’s rental portfolio, including new development projects, residents can now earn points with every on-time rent payment.
“Douglas Elliman is constantly on the lookout for new ways to improve the rental experience and build lasting relationships with our residents,” says Matthew Villetto, executive vice president of Douglas Elliman Development Marketing, on investment and partnership. “Bilt is unique in that it offers a true win-win platform for tenants and property managers where everyone can benefit.
Additionally, Douglas Elliman residents will be among the first to receive an invitation for the Bilt Mastercard, the first credit card that allows users to pay their rent free of charge. With the card, Douglas Elliman residents can earn 1x points on every dollar of rent, 2x points on travel purchases, 3x points on meals and 1x points on all other non-rent purchases, allowing them to maximize the potential rewards, all at no cost.
With Bilt, renters can redeem points for travel to over 100 major airlines and hotels, fitness classes at the country’s best boutique studios, and can even redeem points for rent or future credits. down payment on a house. When paying their rent through the Bilt Rewards app, members can also report their rent payments to the credit bureaus free of charge, which can help build credit histories for millions of young tenants.
CEO and Founder of Bilt Rewards Ankur jain continues, “Our relationships with the nation’s leading property owners, real estate technology investors, property managers and brokerage firms, now including New Valley Ventures and Douglas Elliman, have helped us develop the best value proposition for all. the people involved in the rental equation. We are excited to be working hand in hand to create a program that will transform the rental experience as we know it for millions of people across the country. “
New Valley Ventures continues to invest in promising next-generation technologies to propel the real estate industry into the future and further benefit the agent, tenant and buyer experience. In doing so, New Valley Ventures uses his in-depth industry knowledge from Douglas Elliman to advise on meaningful digital development, technology solutions and financial software.
“We are delighted to offer our residents access to this innovative program and to work with Bilt to develop this product,” explains Hal D. Gavzie, Executive Director of Leasing at Douglas Elliman. “This partnership underscores Douglas Elliman’s commitment to fostering long-term relationships with our customers, from tenants to landlords and landlords, in addition to generating creative solutions to facilitate the home search process.”
For more information on Bilt Rewards, visit BiltRewards.com or download the Bilt Rewards app.
ABOUT THE VECTOR GROUP
Vector Group is a holding company of Liggett Group LLC, Vector Tobacco Inc., New Valley LLC and Douglas Elliman Realty, LLC. Additional information about the company is available on the company’s website, www.vectorgroupltd.com.
ABOUT DOUGLAS ELLIMAN
Founded in 1911, Douglas Elliman Real Estate is the largest brokerage house in new York Metropolitan area and one of the largest independent residential real estate brokers in United States. With approximately 7,000 agents, the company operates approximately 100 offices in New York City, Long island, The Hamptons, Westchester, Connecticut, New Jersey, Florida, California, Colorado, Massachusetts and Texas. Additionally, Douglas Elliman has a global strategic alliance with London– based at Knight Frank Residential for business in global luxury markets spanning 61 countries and six continents. The company also controls a portfolio of real estate services, including Douglas Elliman Development Marketing, Douglas Elliman Property Management and Douglas Elliman Commercial. For more information on Douglas Elliman as well as expert commentary on emerging trends in the real estate industry, please visit elliman.com.
ABOUT BILT REWARDS
Released by Kairos HQ in June 2021, Bilt Rewards is the first-ever loyalty program that allows tenants to earn points on rent free of charge and paves the way for home ownership. Through a partnership with the nation’s largest property owners including Avalon Bay Communities, Equity Residential, Related, Starwood Capital Group and more, Bilt Rewards enables tenants of over two million units across the country to earn points simply by paying rent. Bilt Rewards offers one of the most beneficial rewards programs on the market today, including individual point transfers to 9 loyalty programs allowing travel across over 100 major airlines and hotel partners; fitness classes at the best studio-shops nationwide including SoulCycle, Rumble and Y7; exclusive and limited edition collections of art and interior design thanks to the Bilt collection; and the possibility of using Bilt points for rent credits or for a future down payment. Bilt also partnered with Mastercard to create the Bilt Mastercard – the first and only credit card that can be used to pay rent free of charge. For more information, visit BiltRewards.com.
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SOURCE Douglas Elliman