Brigham Young University students that live in the approved housing managed by the company EdgeCreek Property can pay their deposits and rent with Bitcoins. The firm owns the Nauvoo House, Mountain Pines, La Jolla and Central Park Rexburg complexes, located near the institution, in Utah.
Besides these four dorms, the company is also accepting cryptocurrency at the Village on the Parkway accommodation, close to Utah Valley University.
EdgeCreek Property Management started looking at the possibility of receiving Bitcoins three months ago, according to Daniel Larson. However, the company’s building manager says he started to explore the cryptocurrency world about 18 months ago.
We understand that the generation that we’re renting to is probably the most likely to deal in Bitcoin and we wanted to give them another way to pay their rent. Also, we love what Bitcoin represents from a freedom standpoint – there are no governments manipulating its value – and we want to help make it a viable currency.
The students who want to pay with Bitcoin have to email Daniel Larson, who then arranges the transaction with them. “At this point, we don’t see this as a payment option that will be used very often so we will just deal with Bitcoin payments on an as-needed basis. If it becomes more popular, we’ll work out an automation plan”, he stated.