PayLease Buys Smart Apartment Start-up Zego

PayLease, a leading property management company has acquired the rights to smart home assistance start-up, Zego. The immediate fabrication of the entire deal between the two companies remains unknown as pricing and the statistical structure of acquisition were not disclosed.

In 2003, Ty Kalklosch and Yann Phung founded PayLease, which evolved to become one leading resident billing, and utility expense management tools for homeowners' association (HOAs) and property management companies. Today, PayLease offers online payments, resident billing, and an instrument for utility expense management to more than 4,500 property management companies and 12.5 million units nationwide.

Adam Blake after contributing two years in a successful energy company founded the smart-home start-up, Zego. Blake believes that the undertaking of Zego by PayLease was a direct result of the high-tech capabilities possessed by their company.

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The drive for development in resident satisfaction and improvement of operational efficiency compelled Dirk Wakeham, CEO of PayLease to undertake Zego that provides platform-agnostic, resident-centric technologies. The Zego platform also comes with its original artificial intelligence (AI) system, Millie virtual assistance, which can operate numerous smart devices from digital locks, lights, thermostats and even provide the resident with computed advice. Zego's technology with an expanded version of PayLease's facility will unfold the realm of superior remote access possibilities for clients.   

Integration of Zego's AI platform with PayLease's payments, resident billing, and utility management services will provide both the company with an added advantage in the upcoming field of cyber-house market. Wakeham is committed to providing its customers a superior residential satisfaction, improved communication, and reduced vacant unit cost while undergoing the acquisition process. 

The housing industry will not remain confined within the traditional parameters as the access to control over physical devices through interconnection made by IoT sensors keeps on changing. With the adoption of technologies such as AI and virtual reality (VR), the future of the housing market is taking a big leap forward.