PayProp, the best decision you can make as a rental agency

PayProp, the best decision you can make as a rental agency

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PayProp, the best decision you can make as a rental agency

With 17 years of experience under its belt and the lion’s share of the South African residential rental market, PayProp is the country’s leading payment platform for rental agencies. And when you tally up the ways in which it makes business simpler for its clients, it’s easy to see why. PayProp’s bank-integrated automation of payment collections, trust account reconciliations and beneficiary payments makes for quick and seamless payment administration, freeing up rental agents to focus on what they love and do best – finding new business and offering excellent service to landlords and tenants.

Here is a snapshot of the attributes that make PayProp an all-round excellent investment for rental agencies – now and into the future

Real-time bank integration, automated reconciliation and speedy rule-based payments

With PayProp, your trust account is wired into the SA banking system, meaning all incoming payments on your entire rental portfolio reflect as actual payments. And that means up-to-date trust accounts and no hold-ups due to reconciliation backlogs. As a result, these trusted payments can be automatically matched to the right payers, allocated to the right properties, and paid out to the right beneficiaries according to rules you set up when the landlord or property is added – all in a few minutes daily.

Thanks to bank integration, PayProp also offers fantastic real-time visibility via a high-level dashboard with all your properties, payments in and out, income and more. At the touch of a button, users can see which stage of the payment cycle their clients’ money is at, and the platform offers an automated and date-stamped audit log of each transaction. The log is automatically recorded and cannot be changed or deleted, allowing users to search transactions long after they’ve been made.

Safe and secure

PayProp has processed over R73.3 billion in trust money and has not once been involved in any loss of trust funds. Through its partnerships with leading banks such as Absa in South Africa, clients can rely on bank-grade payment security and leading information security. Data is stored safely and encrypted at rest and when transferred – a necessity with the continued increase in cybercrime.

Another factor that plays a part in PayProp’s security are its strategies to combat ‘phishing’ attempts that prey on employees. On the PayProp platform, as mentioned above, all outgoing payments are based on rules set by you, the agent, which means that no employee can manually direct payments into a non-approved beneficiary account without an indelible audit trail. Duties are split between teams so that no one person carries out a transaction from start to finish, and all trust account activity can be set to require sign-off from two people.

Information in the right hands

PayProp’s security systems don’t just offer peace of mind to you – they also offer it to your clients. The PayProp Owner app enables landlords to check their portfolio in real time to keep an eye on their income, see if the rent has been paid, and check the status of third-party payments. In the same vein, the PayProp Tenant portal lets tenants see their current and historic invoices and statements, and offers a degree of self-service (including instant EFT payments) that promotes end-user satisfaction and financial responsibility.

Expert technical support

For the duration of their contract, PayProp clients receive unlimited free training and technical support – a real boon as your team expands and your user accounts increase. Upon joining the service, a dedicated expert assists with your agency’s onboarding process to make it as quick and painless as possible. Should queries or issues crop up, help is only a telephone call or e-mail away – and clients will be dealing with a real person.

As a payment processing agent within the definition of the Property Practitioners Act, PayProp ticks all the boxes as per the requirements of the associated regulations. Thanks to the company’s impeccable track record in operating a trust environment, its clients can soon seek exemption from time-consuming and costly audits. PayProp complies with the legislation and provides clients with audit assistance on their trust accounts, making daily and end-of-year admin a breeze. In addition, all accounts are segregated, ensuring that funds are ringfenced for their intended use.

Always on

Top-notch behind-the-scenes technology means that PayProp is always improving its infrastructure to ensure clients don’t have to suffer downtime, whether from sluggish access, blackouts or security breaches. By providing back-up to its processing servers, customer databases, network access and the entire Web application, PayProp works hard to ensure that its service is always up and running so its rental agency clients can access their client data, process payments and report to their clients at the touch of a button – with no delays of any kind.

PayProp’s offering is constantly evolving and improving, staying ahead of the many demands of this fast-paced and fast-growing environment to ensure that residential rental agents have access to the best payment processing service possible. This means tight security on all accounts and transactions, complete compliance and transparency, easy auditing admin and streamlined, reliable payment operations.

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