Residential property management platform set to revolutionize Missouri property businesses with powerful, simple rental payment solutions

MIAMI, FLORIDA, UNITED STATES, August 15, 2023/EINPresswire.com/ -- PayProp, the automated rental payment platform for residential property managers, is excited to announce that its platform and services are now available in Missouri.

“We have had significant interest from local property managers,” says Johannes van Eeden, co-founder and CEO of PayProp. “We’re looking forward to helping them spend less time on rental payment admin and accounting and more time growing their businesses.”

Before it enters a new state, PayProp invests significant time and resources into integrating with the banking system as well as understanding and meeting local real estate licensing requirements and client asset protection rules. For that reason, its expansion has been on a per-state basis, ensuring it is able to deliver a real-time bank-integrated and locally compliant service to in-state property managers.

After much success in South Africa and then the UK, PayProp launched in Ontario, Canada in 2018. The company then made its way into the United States, starting in Florida in 2019, and later expanding into the states of Texas, Georgia, and Illinois. With game-changing states such as California in the pipeline, PayProp believes its North American operations can grow to the scale of its UK business in half the time.

Globally, PayProp processed $2.7 billion for more than 260,000 active tenancies for the fiscal year 2022–2023.

As PayProp’s reach continues to grow, so do its clients’ businesses through the scaling power of automation. PayProp’s North American clients grow 36% on average in the first full year of processing on the platform.

As PayProp's first client in Missouri, Better Homes and Gardens Real Estate Kansas City Homes couldn't be more excited to be on the platform:

“As a brokerage, we’ve always felt strongly that it's important for us to offer solutions to renters as well as homebuyers and sellers,” says Christian Barnes, President and CEO. “When I discovered PayProp at the 2022 NAR NXT Expo, their product, services, and expansion plans intrigued me greatly, and I was thrilled when we were able to have some conversations and sign up for the platform.”

“PayProp provides us with a turnkey, flexible, streamlined solution that enables us to grow our company by adding property management. Now, we will be one of the only large real estate brokerages in the Kansas City area to offer a full suite of residential, commercial, and property management services. We look forward to working closely with PayProp and expanding with them into our other market areas.”

Kansas City, Missouri is 5th on RentCafe's ranking of the 30 most active rental markets in July. And WalletHub listed both Kansas City and St. Louis as two of the best 100 cities for renters.

PROPTECH PIONEERS

Payment automation with the PayProp platform enables property managers to spend more time focusing on business development and managing exponentially more doors in less time. The platform saves property managers the hassle of manual payment administration and accounting by automatically sending invoices, reconciling incoming payments, calculating management fees, and paying owners and contractors.

Other key features of the PayProp platform include:
● Live bank integration with automatic reconciliation of payments to properties;
● Set-and-forget payment rules for multiple recipients across entire property portfolios;
● Strict user permissions, access control, and full audit logs to ensure the safety of client funds;
● Arrears flagged in real time and missed payments recovered with legally compliant reminders that can be set up to go out automatically to late-paying tenants;
● An Owner app that enables owners to view always accurate account totals with the most up-to-date status of their portfolio's balance;
● A Tenant portal that allows tenants to view their entire invoice and payment history, make fast online bank transfers, and request maintenance services; and
● An application programming interface (API), which allows property managers to access PayProp data through other PropTech solutions.

“We look forward to empowering Missouri property managers with cutting-edge technology and high-quality support to help them grow and succeed in the state's flourishing rental market,” says van Eeden.

ABOUT PAYPROP

PayProp is an automated rental payment and reconciliation platform for the property management industry. Launched in 2004, the company has grown quickly to become a leading processor of rental payments for residential properties, and today serves a larger and diverse customer base of property professionals. The platform sets the standard for speed and accuracy of payments as well as cost and payment status transparency, offering customers complete transactional control and regulatory compliance.

PayProp has been recognized for its achievements by HousingWire’s 2023 Tech100 Real Estate Awards, the 2023 Global Business Tech Awards, and the 2023 American Business Awards.

Learn more at www.payprop.com and subscribe to the monthly PayProp Insights for news and analysis on the residential rental market.

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Paige Dawson
PayProp
+1 214-808-7341
paige@mpdventures.com
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CASE STUDY: Find out how one client tripled its rental portfolio with PayProp

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