PayProp, your partner for success

PayProp, your partner for success

ADVERTORIAL

ADVERTORIAL

PayProp, your partner for success

A complete end-to-end solution for payment processing in the property
rental space, PayProp offers real solutions to the problems that rental agents
face daily.

As a market leader in bank-integrated trust account automation, our clients rely on us 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.

But don’t just take our word for it. Here, our South African clients share how PayProp has changed their operations.

PayProp, your partner for success

A complete end-to-end solution for payment processing in the property rental space, PayProp offers real solutions to the problems that rental agents face daily.

As a market leader in bank-integrated trust account automation, our clients rely on us 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.

But don’t just take our word for it. Here, our South African clients share how PayProp has changed their operations.

Our clients all talk about saving hours, days and even weeks every month after moving to PayProp and automating their rental payment administration.

“Before we could process all of one month’s business, the next month was already on us. Considering all the money had to be properly controlled, it was a real challenge,” says David Rodgerson, owner of RE/MAX Bay Properties and RE/MAX Frontier Properties. At the time, they were using a spreadsheet to manually reconcile R200 000 a month.

Foti Sousalis of Realty Atlas describes a similar picture. “I remember one Sunday I came in at 9 o’clock in the morning to reconcile the accounts. I left at 6 that evening and realised I’d lost an entire Sunday that I was never getting back.”

Just a few months later, he was with PayProp. Work that once took a full day could be completed in 20 minutes. “It was phenomenal. 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.

By saving all that time, Foti was able to find new clients and scale up considerably. David experienced the same: “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,” he says.

Our clients all talk about saving hours, days and even weeks every month after moving to PayProp and automating their rental payment administration.

“Before we could process all of one month’s business, the next month was already on us. Considering all the money had to be properly controlled, it was a real challenge,” says David Rodgerson, owner of RE/MAX Bay Properties and RE/MAX Frontier Properties. At the time, they were using a spreadsheet to manually reconcile R200 000 a month.

Foti Sousalis of Realty Atlas describes a similar picture. “I remember one Sunday I came in at 9 o’clock in the morning to reconcile the accounts. I left at 6 that evening and realised I’d lost an entire Sunday that I was never getting back.”

Just a few months later, he was with PayProp. Work that once took a full day could be completed in 20 minutes. “It was phenomenal. 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.

By saving all that time, Foti was able to find new clients and scale up considerably. David experienced the same: “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,” he says.

David Rodgerson also pinpoints the peace of mind that using PayProp’s trust environment for his business has given him.

Before choosing PayProp, David had another software product that placed all payments into one account, and this quickly became a concern. “I had a suspicion that it wasn’t balancing,” says David, “Never having had a qualified audit, I didn’t like what I saw, especially as the cash flow was increasing.”

“We chose PayProp so that we could see the money in an individual trust account for each client,” David goes on. “The fact that it was associated with a bank was another determining factor; it actually worked through a banking platform [so all payments and trust account balances are 100% accurate].”

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.”

“We now look after R65 million a year, so the peace of mind for me is in knowing that it’s in the right place.”

David Rodgerson also pinpoints the peace of mind that using PayProp’s trust environment for his business has given him.

Before choosing PayProp, David had another software product that placed all payments into one account, and this quickly became a concern. “I had a suspicion that it wasn’t balancing,” says David, “Never having had a qualified audit, I didn’t like what I saw, especially as the cash flow was increasing.”

“We chose PayProp so that we could see the money in an individual trust account for each client,” David goes on. “The fact that it was associated with a bank was another determining factor; it actually worked through a banking platform [so all payments and trust account balances are 100% accurate].”

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.”

“We now look after R65 million a year, so the peace of mind for me is in knowing that it’s in the right place.”

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 hugely restricted, Chas Everitt relied on the uninterrupted, recurring income of the rental side of the business. Fortunately, PayProp made it possible for them to seamlessly manage 6 000 rental properties remotely, whereas other agencies without cloud-based business assurance struggled.

“From a payment administration perspective, absolutely nothing’s changed,” says Nicky Krupski, rental manager of Chas Everitt Whale Coast. “We’ve been able to continue quite seamlessly because of the system that we have in place.”

They can also access any documentation they need. “What has become very helpful, especially in the COVID-19 situation, is that we were able to store our lease agreements on the system itself.”

Anton Jansen van Vuuren of Harcourts agrees. “Because we had all our systems Web-based, we could, within a day, move all our people home. There was no downtime. It’s one of the big lessons I’ve learned from this – you need to give each person the ability to work from anywhere in the world.”

“Everyone has had to be more flexible,” says Richard Gray, the CEO of Harcourts. “Once they were stuck at home and still trying to run their businesses, they had no choice but to embrace technology. 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’.”

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 hugely restricted, Chas Everitt relied on the uninterrupted, recurring income of the rental side of the business. Fortunately, PayProp made it possible for them to seamlessly manage 6 000 rental properties remotely, whereas other agencies without cloud-based business assurance struggled.

“From a payment administration perspective, absolutely nothing’s changed,” says Nicky Krupski, rental manager of Chas Everitt Whale Coast. “We’ve been able to continue quite seamlessly because of the system that we have in place.”

They can also access any documentation they need. “What has become very helpful, especially in the COVID-19 situation, is that we were able to store our lease agreements on the system itself.”

Anton Jansen van Vuuren of Harcourts agrees. “Because we had all our systems Web-based, we could, within a day, move all our people home. There was no downtime. It’s one of the big lessons I’ve learned from this – you need to give each person the ability to work from anywhere in the world.”

“Everyone has had to be more flexible,” says Richard Gray, the CEO of Harcourts. “Once they were stuck at home and still trying to run their businesses, they had no choice but to embrace technology. 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’.”

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 that security is one of PayProp’s most compelling benefits.

“Rental professionals don’t necessarily know about secure socket layers or encryption, they just want something that works,” says Anton. “But real estate companies are often targeted by cyber attackers – you get all these phishing
e-mails and those kinds of things. If an agency is targeted and the agent pays a 1 million Rand deposit into a wrong account, I’ve seen businesses close that way.”

“PayProp gives us all the security and support we need to make sure our offices don’t get caught out. 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. This means that any phishing attempts are stopped in their tracks.

Susan Watts of RE/MAX Living agrees that security has been a huge benefit. “PayProp has given us peace of mind. We get alerts, for instance, if a beneficiary’s details change – which is a big security risk if those changes include incorrect bank details. As a typical business owner, you would not know if those changed, but PayProp had thought about that, which makes it far safer for us to transact than a normal rental agency.”

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 that security is one of PayProp’s most compelling benefits.

“Rental professionals don’t necessarily know about secure socket layers or encryption, they just want something that works,” says Anton. “But real estate companies are often targeted by cyber attackers – you get all these phishing
e-mails and those kinds of things. If an agency is targeted and the agent pays a 1 million Rand deposit into a wrong account, I’ve seen businesses close that way.”

“PayProp gives us all the security and support we need to make sure our offices don’t get caught out. 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. This means that any phishing attempts are stopped in their tracks.

Susan Watts of RE/MAX Living agrees that security has been a huge benefit. “PayProp has given us peace of mind. We get alerts, for instance, if a beneficiary’s details change – which is a big security risk if those changes include incorrect bank details. As a typical business owner, you would not know if those changed, but PayProp had thought about that, which makes it far safer for us to transact than a normal rental agency.”

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 PayProp’s value when his staff arrived at the office one Friday to find all their computers had been stolen.

“I thought, no problem, I knew we had daily backups that we did by USB drop. So I got set up with a new computer, we were ready to go – and then the backups didn’t work, they weren’t complete. 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,” says Brian. “Just on one property, it could take literally weeks to do the reconciliation for the last year and give the landlord something he could use. That problem went away with PayProp.”

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 PayProp’s value when his staff arrived at the office one Friday to find all their computers had been stolen.

“I thought, no problem, I knew we had daily backups that we did by USB drop. So I got set up with a new computer, we were ready to go – and then the backups didn’t work, they weren’t complete. 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,” says Brian. “Just on one property, it could take literally weeks to do the reconciliation for the last year and give the landlord something he could use. That problem went away with PayProp.”

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.

“I thought PayProp was going to be difficult to set up and learn,” says Susan Watts from RE/MAX Living. “I was prepared to deal with a lot of technical issues, but we didn’t find any because the back-office support PayProp offers is so fantastic. It really put me at ease.”

“That level of support has continued 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 in the world of PropTech.”

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.”

“The less admin you have as an agent, the more business you are actually able to do. PayProp allows the agent to go out, network and negotiate, which is what they do best.”

“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.”

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.

“I thought PayProp was going to be difficult to set up and learn,” says Susan Watts from RE/MAX Living. “I was prepared to deal with a lot of technical issues, but we didn’t find any because the back-office support PayProp offers is so fantastic. It really put me at ease.”

“That level of support has continued 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 in the world of PropTech.”

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.”

“The less admin you have as an agent, the more business you are actually able to do. PayProp allows the agent to go out, network and negotiate, which is what they do best.”

“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.”

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