Douglas Elliman and Bilt Rewards Team Up for Co-Op and Condo Points

Residents of the 400 New York City co-ops and condos managed by Douglas Elliman are enjoying a new amenity. By paying their monthly maintenance or common charges on time, shareholders and unit-owners amass points that can be redeemed at restaurants, fitness studios, rides hares, hotels, airlines and more. The rewards points can even be used toward future monthly co-op and condo charges.

The rewards system is a partnership with Bilt Rewards, which had partnered with rental landlords but never before with managers of co-ops and condos.

"Bilt has transformed the market by rewarding renters and homeowners on their monthly payments and everyday spend with local merchants," Dan Sachar, vice president of enterprise innovation at Douglas Elliman, tells Yahoo Finance. "We’re excited to bring this more rewarding living experience to residents in condos and co-ops across all Douglas Elliman properties. Since launching, we are thrilled to share nearly 7 million points have already been redeemed by residents for travel experiences, Amazon purchases, condo and co-op statement credits, and more."

Bilt Points can be redeemed for travel across more than 100 major airlines and hotels, including Hilton Honors, Alaska Airlines, Emirates Skywards, KLM-Air France, FlyingBlue, World of Hyatt loyalty program and others. Additionally, Bilt Points can be used towards fitness classes at the country's top studios including SoulCycle, Rumble, Y7, as well as for limited-edition and exclusive collections of art and home decor through the Bilt Collection.

Former Tinder executive Ankur Jain launched Bilt in 2021. Three years later, the company is valued at $3.1 billion and processes $20 billion in transactions annually.In the coming months, The New York Post reports, Bilt is set to expand the number of condos and co-ops it works with, and will eventually offer homeowners the opportunity to pay their mortgages and get rewarded on their platform.