Catch arrears before they become a problem with live payment status views. Send proactive reminders via e-mail and text messages to prompt tenants to pay their rent.
See how PayProp helps property managers manage and reduce tenant arrears from day one.
Every month PayProp’s management reports will give you a snapshot of tenant payment data, letting you see how effective your team is at chasing arrears.
PayProp knows exactly when the rent is due for each of your tenants. If a tenant misses a payment, it is automatically highlighted on your PayProp dashboard so you can take action.
Your tenants get many easy ways to pay with PayProp, including online, via bank transfer and using ACH payment – so no matter if the bank is closed, they can still pay the rent.
PayProp shows and notifies you when a tenant hasn't paid. Send e-mail and text reminders easily from within the system – 64% of tenants respond within 48 hours.
PayProp’s Tenant Assessment Report gives agents more information to vet a tenant. Our report includes not only a traditional credit score, but a combined score based on rental payment data from previous tenancies managed by PayProp-powered agencies.
PayProp will create a snapshot of tenant payment data on the 8th of each month, which the main administrator can check from the 10th of each month before submission. This process can be automated.
If tenant arrears are not reduced as a result of PayProp’s friendly payment reminders, agents can send the tenant a letter of demand through the PayProp system. This letter is a formal legal instrument and can be used as a precursor to an eviction notice if the tenant still fails to settle their debt.
PayProp’s advanced industry trends analysis keeps you fully informed, allowing you to make the best decisions possible for your lettings business.
Thousands of property managers trust PayProp to manage their payments, so our top priority is to ensure that their data is kept secure.
Catch arrears before they become a problem with live payment status views. Send proactive reminders via e-mail and text message.