If there’s just one business tool rental agents need to function at optimal efficiency, it’s PayProp – an end-to-end rental payment solution that frees up their time, their money and their agency to do more.
What PayProp offers
As a market leader in bank-integrated trust account automation, PayProp’s clients rely on it for trusted payments, professional and proactive client communications, unlimited world-class local support and training, bank-grade security, 24/7 business continuity, industry-leading global expertise and continued innovation.
Here, the company’s SA clients share how PayProp has changed their operations.
Time saving efficiencies through bank-integrated trust account automation
PayProp clients all mention saving hours, days and even weeks every month after automating their rental payment administration with PayProp.
Foti Sousalis of Realty Atlas says with PayProp, work that once took a full day could be completed in 20 minutes. “The amount of time we saved with PayProp was just next-level.”
PayProp takes the manual work out of rental reconciliation by intelligently matching all incoming payments to the correct properties, automatically deducting fees and allowing rental agents to distribute the rest of the money according to rules they set – in just a couple of clicks.
David Rodgerson, owner of RE/MAX Bay Properties and RE/MAX Frontier Properties, experienced the same, and says by saving all that time, “all I do is look at new opportunities and growth. I now have an infrastructure below and behind me that looks after all the day-to-day administrative and financial matters efficiently”.
Peace of mind through trust account segregation
Rodgerson also pinpoints the peace of mind that using PayProp’s trust environment for his business has given him.
“We chose PayProp so that we could see the money in an individual trust account for each client. We look after R65 million a year, so the peace of mind for me is in knowing that it’s in the right place, scripted correctly and controlled in the correct order.”
The biggest difference in the business since using PayProp is the strict control over the classification and payment of rental money, David says. “Our responsibility is to be the guardians of other people’s money, and PayProp allows me to sleep peacefully at night, knowing the money is safe.”
Cloud-based business assurance
COVID-19 forced many agency offices to shift from a traditional office into a work-from-home model – but for some the move was easier than others.
During lockdown, when property sales were restricted, PayProp’s cloud-based system enabled Chas Everitt to earn uninterrupted, recurring income from the rental side of the business through seamless remote management of 6 000 rental properties.
“Absolutely nothing changed,” says Nicky Krupski, rental manager of Chas Everitt Whale Coast. “We were able to continue quite seamlessly because of the system that we have in place.”
Richard Gray, CEO of Harcourts, agrees. “It was amazing to see so many people have that lightbulb moment and go “wow, I wish I’d been doing this the whole time’.”
Iron-clad payment and systems security
A flipside of the COVID-19 pandemic’s drive to digital has been a huge increase in cybercrime, making client money and data security a priority for estate agents. Aside from the remote working perks, the Harcourts team believes security is one of PayProp’s most compelling benefits.
“PayProp gives us all the security and support we need to make sure our offices don’t get caught out,” says Anton Jansen van Vuuren. “On top of their security systems, there’s also the user permissions functionality that allows users to only do certain things.”
PayProp’s partnerships with leading banks secure its clients’ trust accounts with bank-grade payment security and leading information security. Banking transactions are made based on rules set by the client and closely monitored, with an indelible audit trail and daily recons undertaken by PayProp’s client money reconciliation team.
Susan Watts of RE/MAX Living provides further examples. “PayProp gives us alerts – for instance, if a beneficiary’s details change. As a typical business owner, you would not know if this happened, so PayProp makes it far safer for us to transact than a normal rental agency.”
Data integrity through trusted back-ups and audit support
You never know where your systems are lacking until they fail you – and when it comes to data protection, the results of improper back-ups can be catastrophic.
Brian van Wijk, Franchisee of Just Property, realised he had to get PayProp when his staff arrived at the office one Friday to find all their computers had been stolen.
“Our backups had failed. We had nothing. I called PayProp straight away and that afternoon they signed us up.”
Because PayProp is cloud-based, Brian no longer has to worry about data disasters. All transactions are recorded in real time, so he and his team don’t need to manually transfer or export data. The live and on-demand data is also a godsend when tax season rolls around.
“I remember March being an absolutely hated time for admin when we used other systems. Just on one property, it could take literally weeks to do the reconciliation for the last year. That problem went away with PayProp.”
Support and ease of use
With many systems, making the switch to a new programme can be daunting, and the training for future employees laborious. However, with PayProp the support is comprehensive and consistent, at no additional cost.
Susan Watts of RE/MAX Living says PayProp’s back-office support is fantastic and, after many years, continues at a high standard to this day. “PayProp really do treat my business as if they have a personal stake in it. You can pick up the phone, someone will answer, and they’ll talk you through your problem and actually know what they’re talking about. This service-orientated approach is hugely refreshing.”
One of the other benefits that Susan has found using PayProp is that the platform makes accessing and interpreting data incredibly easy.
“Using the phone in my pocket I can log in to PayProp and run checks on each of my agents. You can generate a graph and see how their business has been growing. Everything is in one place and easy to find – it makes my job so much easier.”
“Without PayProp, we wouldn’t be able to do what we do,” says Berry Everitt, CEO of Chas Everitt. “We see it as the Rolls Royce of the industry. It has everything we need and more.”
Thosuands of rental agents around the world are using PayProp to get more out of their time, more out of their money and more out of their businesses. See the PayProp advantage for yourself by booking a demo today.