The most effective method for signing more landlords is to first understand what they want: to have their investments taken care of diligently and to receive their rent quickly and in full. Streamlined and secure PayProp has all the features that landlords just can’t resist – so how can you use it as part of your sales pitch?
Tight financial accuracy and control
Because PayProp is directly integrated into leading local financial institutions, landlords only ever see accurate and up-to-date data on their reports and statements with no third-party interference.
Through the PayProp Tenant Portal, branded with the property management business’s livery, tenants can make instant EFT rental payments via their country’s respective online banking service. Their landlord’s trust account details and payment references are auto-filled, once again limiting the risk of typos, fraud and other results of human fallibility.
PayProp also offers bank-grade security. All transaction information between us and our banking partners is encrypted, which furthers promotes a more secure and trusted environment for landlords to work in.
With the PayProp Owner app, landlords have quick and easy access to their portfolios anytime, anywhere, on any device. Live information on all properties, damage deposits and account balances can be viewed or downloaded at the tap of a finger.
Plus, when you set up automated notifications, landlords will know when tenants paid rent without having to check their bank. They’ll never be in the dark about the status of their monies again.
In turn, the PayProp Tenant Portal allows tenants to view all their invoices, their entire payment history, and their damage deposit balance online, giving them absolute certainty in the case of disputes. And for tenants who rent multiple properties, such as parents of students, all properties are visible within the same Tenant Portal account.
Fast and reconciled payments
Bookkeeping is a breeze with PayProp’s most beloved feature. Our real-time automated reconciliation technology automatically recognises and tags money inflows as coming from specific payers paying into specific properties belonging to specific investors, preventing you from accidentally paying an investor with money from the wrong property. Accurate and punctual payments are key for improving landlord retention and morale.
Landlords can also take advantage of a “landlord wallet” which is a separate trust account to reserve a certain portion of funds due to the landlord for maintenance for the duration of the lease, so money that has not been paid in by the tenant for that purpose can’t be paid out to contractors either.
Crystal clear communication
The best property management software prioritises communication, and PayProp delivers. All key statements, invoices, rent receipts and even welcome letters are automated, professionally branded with the agency name, and backed by bank-informed accuracy, which increases trust.
E-mail and text message reminders can also be set up for late-paying tenants, and PayProp flags arrears in real time with account totals coming straight from the bank, so landlords can always stay on top of who owes what and when. And PayProp’s arrears reminders get results: 64% of tenants respond within 48 hours.
This digital paper trail provided by PayProp, backed by a permanent audit trail of all transactions on the platform, establishes complete transparency that protects landlords should the status of payments or data ever come into question.
Our partnership means more profit for you
Team up with PayProp today to seal the deal with more landlords than you thought possible, and manage a rapidly growing portfolio easily without appointing more admin staff through effortless automation.