Automated rent collection, reconciliation, and distribution platform for property managers recognized for leading-edge functionality in crowded field

FORT LAUDERDALE, FLORIDA, UNITED STATES, January 23, 2024 /EINPresswire.com/ -- PayProp, the automated rental payment platform for residential property managers, has been recognized among Inman’s Best Reviewed PropTech of 2023.

Following a comprehensive evaluation of PayProp back in May, Inman’s dedicated tech reviewer Craig C. Rowe included the cutting-edge payment platform in his annual list of PropTech solutions that best streamline business processes, address owner and tenant pain points, and offer innovative solutions to longstanding challenges.

Rowe singled out PayProp's trademark bank integration, which ensures precise bank data and reconciliation with every transaction. This relieves property managers of the burden of manual accounting, and owners of the anxiety of long payment waiting times.

The publication also praised PayProp’s ability to let property managers, tenants and landlords monitor fund flows from the point of payment collection to disbursement.

Rowe said the platform stood out for its “clean dashboards that track payments, outgoing expenses, revenue streams and tenants. It can invoice, communicate with tenants, verify funds immediately and offer long-term portfolio insights.”

“We thank Craig Rowe for championing the excellence of PayProp and helping us shine in the industry spotlight,” said Samantha Ferreira, Head of Client Services at PayProp North America.

UNRIVALED INNOVATION

Bank-integrated payment automation with PayProp enables property managers to cut their portfolio administration time to a fraction and allows them to focus on business development and managing more doors. As a result, PayProp’s North American clients grow more than 20% on average in the first full year of processing on the platform.

The platform automatically generates bulk rent and other invoices ready for approval and sending from the platform. Once payment is received, it automatically calculates management fees, lets property managers reconcile bulk incoming payments, and pay owners and contractors in just a couple of clicks.

Key features of the PayProp platform include:
- Automated reconciliation of rent payments to properties;

- Set-and-forget payment rules for multiple recipients across entire property portfolios, enabling bulk settlement in a few clicks;

- 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 automated reminders to late-paying tenants;

- Live management reports for property managers to check the financial health of their portfolios and benchmark themselves against competitors;

- 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.

See how PayProp stacks up to other highly rated PropTech here: https://www.inman.com/2023/12/28/aziba-fello-cloze-among-inmans-best-reviewed-proptech-of-2023/

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 large and diverse customer base of property professionals, processing $2.7bn in rental payments annually. 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.

On December 4, 2023, PayProp and Reapit announced that the two companies were merging. The combined company will offer clients the opportunity to have a single provider that delivers capabilities across sales, property management, and trust account management.

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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Caitlyn Conville
PayProp
+1 201-865-4948
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CASE STUDY: Find out how one client tripled its rental portfolio with PayProp

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