Residential property management platform empowers property managers with powerful, automated rent collection, reconciliation and distribution for two decades
FORT LAUDERDALE, FLORIDA, UNITED STATES, March 20, 2024 /EINPresswire.com/ — PayProp, the automated rental payment platform for residential property managers, is celebrating 20 years of global leadership in bank-integrated property management.
Co-founded by Johannes and Jaco van Eeden in Stellenbosch, South Africa, PayProp delivers significant monthly time and resource savings for thousands of property businesses around the world. Coupled with automated efficiencies, this enables them to scale easily and focus on growing their businesses.
Today PayProp processes $2.7bn in rental payments annually covering more than 260,000 tenancies in South Africa, the UK, Canada, and United States.
Over the past two decades, PayProp has continually added new platform features to support its core end-to-end payment processing functionality – such as an integrated maintenance hub and live management reports – that are not only state of the art in the PropTech space, but free up and empower property managers, landlords, and tenants in ways they actually want.
“A big part of what makes PayProp special is our incredible support teams, who foster real relationships with customers,” said Johannes van Eeden. “Other companies might outsource support, but ours is a highly efficient, highly trained, local in-house team. They speak with customers in person as well as on the phone, and their feedback and inquiries are plowed back into the business.”
For its achievements, PayProp has recently been recognized as the top Accountancy & Finance Software in the 2024 Kerfuffle Awards, and Tech Company of the Year – Large at the 2023 Global Business Tech Awards. It was also named Supplier of the Year – Products & Services (Business), and won silver in Supplier of the Year (Technology) – Agency Software at The Negotiator Awards 2023.
In yet another award, it was the PayProp UK support team’s quick response times, unlimited training and support, and genuine love of the platform that have won it six consecutive Best in Sector – Payment Services awards from the ESTAS since 2017.
“If I can pride myself on one thing that I know I’ve done right, it would be bringing the right people on board,” Van Eeden said.
In addition to retaining many of its very first customers in South Africa and in the UK, a notable number of PayProp’s staff have been with the company for ten or more years.
“And everyone we’ve hired since has truly believed in and lived our purpose, underpinned by problem-solving, innovating, and loving what we do,” Van Eeden stated.
“I consider myself fortunate to have been a part of PayProp since 2006 and to be part of this significant milestone of 20 years,” said Samantha Ferreira, Head of Client Services at PayProp North America. “I am thrilled with what we have accomplished in the North American market in a short period. Looking ahead, I’m excited about the growth and potential that lie ahead and eagerly anticipate what we can achieve together – even within just the next five years!”
PayProp will carry that passion and culture into its recent merger with Reapit, a leading end-to-end sales, property and block management solution, available in the UK and Ireland, Denmark, Australia, New Zealand, and the United Arab Emirates.
“Whatever form a future with Reapit takes, the goal is to make life easier and save time for property professionals who manage both the rentals and sales sides of their business,” Van Eeden said.
UNRIVALED INNOVATION
Bank-integrated payment automation with PayProp enables property managers to cut their portfolio administration time to a fraction and allows them to focus on business development and managing more doors. As a result, PayProp’s North American clients grow more than 20% on average in the first full year of processing on the platform.
The platform automatically generates bulk rent and other invoices ready for approval and sending from the platform. Once payment is received, it automatically calculates management fees, and lets property managers reconcile bulk incoming payments, and pay owners and contractors in just a couple of clicks.
Key features of the PayProp platform include:
– Automated reconciliation of rent payments to properties;
– Set-and-forget payment rules for multiple recipients across entire property portfolios, enabling bulk settlement in a few clicks;
– Strict user permissions, access control, and full audit logs to ensure the safety of client funds;
– Arrears flagged in real time and missed payments recovered with automated reminders to late-paying tenants;
– Live management reports for property managers to check the financial health of their portfolios and benchmark themselves against competitors;
– An Owner app that enables owners to view always accurate account totals with the most up-to-date status of their portfolio’s balance;
– A Tenant portal that allows tenants to view their entire invoice and payment history, make fast online bank transfers, and request maintenance services; and
– An application programming interface (API), which allows property managers to access PayProp data through other PropTech solutions.
ABOUT PAYPROP
PayProp is an automated rental payment and reconciliation platform for the property management industry. Launched in 2004, the company has grown quickly to become a leading processor of rental payments for residential properties, and today serves a large and diverse customer base of property professionals, processing $2.7bn in rental payments annually. The platform sets the standard for speed and accuracy of payments as well as cost and payment status transparency, offering customers complete transactional control and regulatory compliance.
On December 4, 2023, PayProp and Reapit announced that the two companies were merging. The combined company will offer clients the opportunity to have a single provider that delivers capabilities across sales, property management, and trust account management.
Learn more at www.payprop.com and subscribe to the monthly PayProp Insights for news and analysis on the residential rental market.
Caitlyn Conville
PayProp
media@payprop.com
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