Your buy-to-let investment is an extremely valuable asset and you need to know the income generated from it will be safely administered by your managing agent. That is why dependable agents choose PayProp to process all their rental receipts and payments.
PayProp is the leader in rental payment automation. The PayProp platform combines portfolio management, accounting and banking in a single powerful platform that automates rent collection, reconciliation and tenant communication. It keeps an audit log of all transaction data and system activity, ensuring complete transparency and providing landlords with up-to-date, accurate reports on all transactions that relate to their property – all at the click of a button.
Here are 5 reasons landlords love PayProp:
1) Tenants and owners receive automated invoices and statements. PayProp is plugged directly into the banking system, so balances are real-time and accurate, with a clear view of incoming and outgoing transactions.
2) PayProp enables agents to settle funds to owners on the same day rent is received, so there are no delays in receiving funds from different banks.
3) PayProp keeps track of the live arrears status of all tenants and enables agents to approve payment reminders via e-mail and sms. Data shows that 90% of all text message are opened within 3 minutes and 64% of tenants adjust their arrears situation within 48 hours.
4) Better service – PayProp automates tedious tasks, allowing agents more time to service their landlords’ portfolios.
5) Thanks to the availability of system-generated property statements, agents can also provide landlords with all the information they need for their annual tax returns.