PayProp is an automated payment and reconciliation platform specific to the lettings industry that is both easier to use and more powerful than solutions offered by banks and traditional software vendors.
PayProp was launched in 2004 and has quickly grown to become one of the largest processors of rental payments for the property management industry.
In the United Kingdom, PayProp is recognised as a Platinum Industry Approved Supplier by ARLA Propertymark and sets the standard for speed and accuracy of payments, cost and payment status transparency, complete transactional control, and regulatory compliance.
PayProp is part of the Humanstate Group, an international company with subsidiaries in the United Kingdom, Switzerland, Canada and South Africa.
For more information, visit: uk.payprop.com
Launched in 2004
£2.3 billion processed
A Humanstate company
44 London Road, Sevenoaks
Kent, TN13 1AS
+44 (0)20 3740 7614
– use technology to build a trusted brand as a people-focused custodian of client money
Non-stop regulatory changes in the industry are eating away at landlord and agency profitability. But while we can expect some industry fall-out, smart agencies are beating the headwinds and even growing with a killer technology strategy.
Hull-based Lime Property has revealed the secrets of its recent successes at The ESTAS 2019. In its first year of entering, the company won Gold for best Yorkshire letting agency (as voted by landlords) and Silver for best letting agency (as voted by tenants).
Interestingly, it attributed much of its success to a PropTech strategy of automating its payments with PayProp.
Loved by landlords
“When all is said and done, landlords trust letting agents with thousands of pounds in rent and long-term property investments,” says Managing Director Sam Humphreys. “To give our clients the necessary trust and assurance, we use PayProp to automate our rental payments, which has helped us win over landlords and tenants and a lot of votes at the ESTAS.”
Being with PayProp gives landlords the confidence that their money is where the agency says it is, says Humphreys. “PayProp is totally transparent, so landlords can see when the rent comes in, the commission we take and the amount they receive. It also allows us to send through professional statements and alerts when the rent has been paid. We get lots of compliments about the system, and it’s helped us attract new landlords through word of mouth.”
Trusted by tenants
“For our tenants it’s about making the moving process as easy and stress-free as possible,” he continues. “When they’re settled, PropTech like PayProp helps us keep our tenants informed with rental invoices and payment notifications. We’ve actually had tenants come to us to rent a property because they’ve heard about the high level of service we offer!”
Want to know more about beating the competition with time-saving, growth-enabling payment automation through PayProp? Download this free case study outlining how choosing PayProp has led to Lime Property winning top honours at the 2019 ESTAS.
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